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Autonomie des Banques Centrales et Finances Publiques en Afrique subsaharienne
[Autonomy of Central Banks and Public Finances in Sub-saharan Africa]

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

Abstract

The purpose of this article is to analyze the impact of the degree of autonomy of central banks on the level of budget deficits in sub-Saharan Africa (SSA) over the period 1980-2017. For this, we rely on two (02) quantified indicators of the degree of autonomy developed by the literature and on the econometrics of panel data. The results of the estimates indicate an ambiguous relationship between the degree of autonomy and the level of fiscal deficit, and nevertheless confirm that the average orientation of fiscal policy is determined more by the budgetary procedure itself than by the statutes of the Central Bank.

Suggested Citation

  • Tadadjeu Wemba, Dessy-Karl & Essiane, Patrick-Nelson Daniel, 2018. "Autonomie des Banques Centrales et Finances Publiques en Afrique subsaharienne [Autonomy of Central Banks and Public Finances in Sub-saharan Africa]," MPRA Paper 100828, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:100828
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    More about this item

    Keywords

    Autonomy of the Central Bank; fiscal deficits; Sub-Saharan Africa; panel data;
    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
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • 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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