Infrastructures institutionnelles et développement financier en zone CEMAC
[Institutional infrastructures and financial development in zone CEMAC]
AbstractThis dissertation proposes to evaluate the impact of institutional development on the financial development in the Central Africa Economic and Monetary Community (CAEMC).An econometric and statistical approach is used in order to realise this objective. According to the methodology suggested by Demirguc-Kunt & Levine (1996) and by Chouchane Verdier (2004), the statistical approach makes it possible to build the financial development indice of the countries of the mentioned zone. This statistical approach reveals the delay by these countries in term of financial development compared to other countries. Following the methodology proposed by Demetriades & Luintel (1996)and by Ito (2005), the econometric approach, with the aid of sargan test and the Arrelano & Bond (1991)test on our dynamic panel data, highlights the negative impact of the weakness of the level of institutional development on the financial development.It can explain why financial liberalization is only slightly beneficial with the financial development.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 37824.
Date of creation: 2012
Date of revision:
Libéralisation financière ; développement financier ; développement institutionnel ; CEMAC ; données de panels dynamiques;
Find related papers by JEL classification:
- E0 - Macroeconomics and Monetary Economics - - General
- P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
- N2 - Economic History - - Financial Markets and Institutions
- G0 - Financial Economics - - General
- C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
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