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A Politico-economic Model for Stabilisation in Africa

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  • Dessus, Sebastien
  • Lafay, Jean-Dominique
  • Morrisson, Christian

Abstract

It is now widely accepted that stabilization plans cannot be drawn up without taking potential political reactions into consideration. We develop a simple macroeconometric model, which describes interactions between economic and political variables, using data from twenty-three African countries for the 1980s. The results clearly suggest that there are important links between political and economic spheres. Economic policies affect the political situation and socio-political reactions influence economic activity and feedback to economic policies. We conclude that incorporating socio-political reactions in the design of economic policies can help establish more efficient stabilization programs. Copyright 1998 by Oxford University Press.

Suggested Citation

  • Dessus, Sebastien & Lafay, Jean-Dominique & Morrisson, Christian, 1998. "A Politico-economic Model for Stabilisation in Africa," Journal of African Economies, Centre for the Study of African Economies, vol. 7(1), pages 91-119, March.
    • Handle: RePEc:oup:jafrec:v:7:y:1998:i:1:p:91-119
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    Cited by:

    1. Ndikumana, Leonce, 2000. "Financial Determinants of Domestic Investment in Sub-Saharan Africa: Evidence from Panel Data," World Development, Elsevier, vol. 28(2), pages 381-400, February.

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