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Modélisation des effets des réformes institutionnelles sur le développement financier pour la croissance économique en zone CEMAC
[Modeling the effects of institutional reforms on financial development for economic growth in the CEMAC zone]

Author

Listed:
  • Tchouassi, Gérard
  • Tomo, Christian Parfait

Abstract

This article studies the effects on economic growth of institutional reforms of financial development in the Central African Economic and Monetary Community. The results obtained using the method of generalized moments on a balanced panel show that the institutional reforms of financial development have contributed to economic growth. However, credit to the private sector does not contribute to economic growth. Furthermore, the results indicate that public spending and trade openness of economies do not contribute to economic growth. On the one hand, States must pursue reforms relating to financial development, in particular the extent of interoperability and interbanking of electronic payment systems and means of payment in order to take advantage of the digitalization of the economy to increase financial inclusion. On the other hand, States should take advantage of the continental free trade area.

Suggested Citation

  • Tchouassi, Gérard & Tomo, Christian Parfait, 2022. "Modélisation des effets des réformes institutionnelles sur le développement financier pour la croissance économique en zone CEMAC [Modeling the effects of institutional reforms on financial develop," MPRA Paper 113482, University Library of Munich, Germany, revised 17 Jun 2022.
    • Handle: RePEc:pra:mprapa:113482
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    References listed on IDEAS

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    More about this item

    Keywords

    Institutional reforms; Financial development; Economic growth; Panel data; GMM; CEMAC;
    All these keywords.

    JEL classification:

    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • G2 - Financial Economics - - Financial Institutions and Services

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