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Système financier dualiste et impacts des politiques financières : essai de modélisation

Listed author(s):
  • Tanimoune, Nasser Ary

    (Université d’Ottawa)

The aim of this paper is to analyse according to neo-structuralists (in particular Van Wijnbergen, 1983) the impacts of financial policies such as the rise of the deposit interest rate on loanable funds in a dualist financial system. The model highlights the importance of the activism of banks concerning the financing of the economy and allows to explain the excess of liquidity of many banks in West Africa Economic and Monetary Union after the financial reforms. Cet article analyse l’impact d’une hausse du taux d’intérêt créditeur sur la distribution des crédits bancaires dans un environnement financier dualiste. Il s’inscrit dans le prolongement de la thèse développée par les néostructuralistes, notamment Van Wijnbergen (1983), selon laquelle dans les pays en développement une politique financière doit prendre en compte l’importance relative de toutes les structures de financement. Le principal résultat est la mise en évidence de l’activisme des banques dans le financement global d’une économie à système financier dualiste. Il permet d’expliquer l’excès de liquidité qui caractérise de nombreuses banques dans la Zone franc ouest africaine depuis le début des années quatre-vingt-dix.

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Article provided by Société Canadienne de Science Economique in its journal L'Actualité économique.

Volume (Year): 83 (2007)
Issue (Month): 1 (mars)
Pages: 55-70

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Handle: RePEc:ris:actuec:v:83:y:2007:i:1:p:55-70
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  1. Obstfeld, Maurice, 1994. "Risk-Taking, Global Diversification, and Growth," American Economic Review, American Economic Association, vol. 84(5), pages 1310-1329, December.
  2. Daniel, Betty C & Kim, Hong-Bum, 1992. "An Alternative Rationale for Financial Dualism: A Note," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 24(4), pages 570-577, November.
  3. Dowd, Kevin, 1992. "Optimal Financial Contracts," Oxford Economic Papers, Oxford University Press, vol. 44(4), pages 672-693, October.
  4. Robert G. King & Ross Levine, 1993. "Finance and Growth: Schumpeter Might Be Right," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 717-737.
  5. Jean-Paul Pollin & Anne-Gaël Vaubourg, 1998. "L'architecture optimale des systèmes financiers dans les pays émergents," Revue Économique, Programme National Persée, vol. 49(1), pages 223-238.
  6. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
  7. Morduch, Jonathan, 2000. "The Microfinance Schism," World Development, Elsevier, vol. 28(4), pages 617-629, April.
  8. Levine, Ross, 1992. "Financial intermediary services and growth," Journal of the Japanese and International Economies, Elsevier, vol. 6(4), pages 383-405, December.
  9. Jean-Paul Pollin & Anne-Gaël Vaubourg, 1998. "L'architecture optimale des systèmes financiers dans les pays émergents," Post-Print halshs-00287664, HAL.
  10. Jean-Paul Pollin & Anne-Gaël Vaubourg, 1998. "L'architecture optimale des systèmes financiers dans les pays émergents," Post-Print halshs-00290760, HAL.
  11. Thierry Montalieu, 2002. "Les institutions de microcrédit : entre promesses et doutes, quelles pratiques pour quels effets?," Post-Print halshs-00277099, HAL.
  12. Liang, Ming-Yih, 1988. "A Note on Financial Dualism and Interest Rate Policies: A Loanable Funds Approach," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 29(3), pages 539-549, August.
  13. Thierry Montalieu, 2002. "Les institutions de microcrédit : entre promesses et doutes," Post-Print halshs-00277032, HAL.
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