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La crédibilité des politiques monétaires affecte-t-elle la croissance économique en Afrique subsaharienne?
[Does the credibility of monetary policies affect economic growth in Sub-Saharan Africa?]

Author

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  • Tadadjeu Wemba, Dessy-Karl
  • Essiane, Patrick-Nelson Daniel

Abstract

This study proposes to highlight the effect of greater Monetary Policy Credibility (CPM) on economic growth in Sub-Saharan Africa (SSA) during the period 1980-2017. The econometric approach based on dynamic panel data is mainly used for our estimates. The main results show a limited and insignificant effect of the credibility indicator on economic activity, mainly due to the ineffectiveness of the monetary policy transmission channels. This contradiction has led us to recommend for our part the promotion of a monetary policy oriented towards improving economic growth in Sub-Saharan Africa, but without however prejudicing the constraint of price stability.

Suggested Citation

  • Tadadjeu Wemba, Dessy-Karl & Essiane, Patrick-Nelson Daniel, 2019. "La crédibilité des politiques monétaires affecte-t-elle la croissance économique en Afrique subsaharienne? [Does the credibility of monetary policies affect economic growth in Sub-Saharan Africa?]," MPRA Paper 99961, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:99961
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    More about this item

    Keywords

    Monetary Policy; Economic growth; Price stability; Sub-Saharan Africa;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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