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Effets de l’endettement public sur l’efficacité de la politique budgétaire dans l’espace UEMOA

Author

Listed:
  • Koffi Marc Bini

    (Unité de Formation et de Recherche (UFR) des Sciences Economiques et de Gestion - Unité de Formation et de Recherche (UFR) des Sciences Economiques et de Gestion - UFHB - Université Félix Houphouët-Boigny)

  • Djedje Hermann Yohou

    (CERDI - Centre d'Études et de Recherches sur le Développement International - UdA - Université d'Auvergne - Clermont-Ferrand I - CNRS - Centre National de la Recherche Scientifique)

  • Ouattara Wautabouna

    (UFHB - Université Félix Houphouët-Boigny)

Abstract

L'objectif de cette étude est d'estimer l'influence de la politique budgétaire sur l'évolution de l'activité économique dans la zone UEMOA, conditionnellement au niveau de la dette extérieure. Le modèle utilisé est le PSTR (Panel Smooth Transition Regression Model) et porte sur la période 1989-2012. Les résultats montrent que la dette influence négativement et de façon significative l'efficacité de la politique budgétaire. L'impact de la politique budgétaire sur la croissance diminue progressivement quand le niveau de la dette extérieure augmente. Nous estimons un seuil critique de 48% du PIB au-dessus duquel les effets deviennent négatifs. Les résultats indiquent l'existence d'une hétérogénéité entre les pays et d'une année à une autre.

Suggested Citation

  • Koffi Marc Bini & Djedje Hermann Yohou & Ouattara Wautabouna, 2017. "Effets de l’endettement public sur l’efficacité de la politique budgétaire dans l’espace UEMOA," Post-Print halshs-01464306, HAL.
    • Handle: RePEc:hal:journl:halshs-01464306
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    Cited by:

    1. Sèwanoudé Honoré HOUNGBEDJI, 2021. "Budget policy, economic cycle and debt in the West African Economic and Monetary Union (WAEMU) countries: Empirical evidence based on a regime change model," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(4(629), W), pages 151-168, Winter.

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