EconPapers    
Economics at your fingertips  
 

Macroeconomic Factors and Dynamics of Financial Deepening: An empirical Investigation applied to the CEMAC Sub-region

Christian Nguena () and Roger Nanfosso ()
Additional contact information
Roger Nanfosso: Yaoundé/Cameroun

No 14/015, Working Papers of the African Governance and Development Institute. from African Governance and Development Institute.

Abstract: This article empirically estimates a micro-founded model with the aim to investigate the leading macroeconomic determinants and dynamics of financial deepening in the CEMAC sub-region. For this purpose, we adopted an empirical investigation in both static and dynamic panel data econometrics which has led to the following global recommendations: firstly, the CEMAC sub-region authorities should implement expansionary policies of GDP growth rate, population density, savings rate and exchange rate. Secondly, they should review their policy of trade liberalization since it appears to be negatively related to financial deepening. Concerning the dynamic aspect, a convergent dynamic and the feasibility of common monetary policy targeting depth in CEMAC sub-region have been highlighted.

Keywords: Financial deepening; panel data econometrics; CEMAC; principal component analysis; economic growth. (search for similar items in EconPapers)
Pages: 33
Date: 2014-09
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed

Downloads: (external link)
http://www.afridev.org/RePEc/agd/agd-wpaper/Macroe ... ancial.Deepening.pdf Revised version, 2014 (application/pdf)

Related works:
Working Paper: Macroeconomic Factors and Dynamics of Financial Deepening: An empirical Investigation applied to the CEMAC Sub-region (2014) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:agd:wpaper:14/015

Access Statistics for this paper

More papers in Working Papers of the African Governance and Development Institute. from African Governance and Development Institute. Contact information at EDIRC.
Bibliographic data for series maintained by Asongu Simplice ().

 
Page updated 2021-10-23
Handle: RePEc:agd:wpaper:14/015