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Renforcer l’efficacité de la convergence macroéconomique dans la CEMAC

Désiré Avom, Amadou Bobbo () and Dieudonne Mignamissi ()

Revue d’économie du développement, 2015, vol. 23, issue 4, 43-81

Abstract: Within a multilateral monitoring framework, EMCCA countries have been pursuing the process of macroeconomic convergence since 1994. In this context, this paper seeks to illustrate if that process is economic growth-enhancing. To achieve this objective, use is made of an augmented Solow growth model. Results show that the implementation of the convergence criteria registered no significant effect on economic growth among member countries. These findings were largely attributable to the high degree of heterogeneity among EMCCA economies. Restructuring the existing multilateral monitoring mechanisms, with this in mind, would unleash the desired economic growth impact. Codes JEL: C33, C36, F020, O55.

Keywords: convergence; EMCCA; economic growth; instrumental variables; panel data (search for similar items in EconPapers)
JEL-codes: C33 C36 F02 O55 (search for similar items in EconPapers)
Date: 2015
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