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Economic Security and Political Governance Crisis in the Central African Republic

Author

Listed:
  • Pacific K. T. Yapatake

    () (Zhejiang University, Hangzhou, China)

  • Shan J. Li

    (Zhejiang University, Hangzhou, China)

Abstract

Nowadays the Central African Republic (CAR) is experiencing huge economic insecurity which mostly derives from the political governance crisis that the country has been continuously undergoing since its independence in 1960. This paper examines the relationship between political governance crisis and economic security in the country covering the period of 1996-2015, using two stage instrumental analysis and second order asymptotic tests. The results show that political stability and absence of violence/terrorism ,voice and accountability, proxies of political governance crisis played a different role on national income per capita, agricultural raw materials exports, agriculture value added, external balance on goods and services, food exports, food imports, foreign direct investment, GDP growth, GDP per capita growth, inflation, wage and salaried workers, industry value added, total natural resources rent and trade , proxies of economic security. The importance of sustainable political governance stability and the implementation of appropriate reforms at institutional level are a preconditions to economic security.

Suggested Citation

  • Pacific K. T. Yapatake & Shan J. Li, 2018. "Economic Security and Political Governance Crisis in the Central African Republic," CEREDEC Working Papers 18/001, Centre de Recherche pour le Développement Economique (CEREDEC).
  • Handle: RePEc:aby:wpaper:18/001
    as

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    File URL: http://publications.ceredec.org/RePEc/aby/aby-wpaper/Economic-Security-and-Political-Governance-Crisis-in-the-Central-African-Republic.pdf
    File Function: Revised version, 2018
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    References listed on IDEAS

    as
    1. Susan K. Schroeder, 2008. "The Underpinnings Of Country Risk Assessment," Journal of Economic Surveys, Wiley Blackwell, vol. 22(3), pages 498-535, July.
    2. Ratha, Dilip & De, Prabal K. & Mohapatra, Sanket, 2011. "Shadow Sovereign Ratings for Unrated Developing Countries," World Development, Elsevier, vol. 39(3), pages 295-307, March.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Economic security; political governance crisis; two stage instrumental analysis; Second order asymptotic test; CAR;

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • I - Health, Education, and Welfare
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa
    • P37 - Economic Systems - - Socialist Institutions and Their Transitions - - - Legal

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