IDEAS home Printed from https://ideas.repec.org/p/hal/wpaper/halshs-00557129.html
   My bibliography  Save this paper

Le temps retrouvé de l'endettement interne pour les pays en voie de développement ? L'exemple de l'Union économique et monétaire ouest africaine (UEMOA)

Author

Listed:
  • Samuel Guerineau

    (CERDI - Centre d'Études et de Recherches sur le Développement International - UdA - Université d'Auvergne - Clermont-Ferrand I - CNRS - Centre National de la Recherche Scientifique)

  • Sylviane Guillaumont Jeanneney

    (CERDI - Centre d'Études et de Recherches sur le Développement International - UdA - Université d'Auvergne - Clermont-Ferrand I - CNRS - Centre National de la Recherche Scientifique)

Abstract

Following a series of debt cancellations, the public debt of many developing countries has reached low levels. These countries are being urged to extent public spending to reach The Millennium Development Goals (MDGs), but can not exclusively rely on external financing. Consequently, is an increase in the domestic debt possible and desirable? This paper investigates this issue in the case of the West African Economic and Monetary Union (WAEMU), of which several countries have benefited from important debt cancellations. We show that an increase in the domestic debt is not only possible, since there exists excess bank liquidity and that institutional constraints may be overcome, but also desirable since the main risks linked to the rise of public debt (debt distress, crowding out of private investment and real exchange rate appreciation) seem weak at the moment.

Suggested Citation

  • Samuel Guerineau & Sylviane Guillaumont Jeanneney, 2011. "Le temps retrouvé de l'endettement interne pour les pays en voie de développement ? L'exemple de l'Union économique et monétaire ouest africaine (UEMOA)," Working Papers halshs-00557129, HAL.
  • Handle: RePEc:hal:wpaper:halshs-00557129
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00557129
    as

    Download full text from publisher

    File URL: https://halshs.archives-ouvertes.fr/halshs-00557129/document
    Download Restriction: no

    Other versions of this item:

    More about this item

    Keywords

    cerdi;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:wpaper:halshs-00557129. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.