The Formation of Public Arrears in the Franc Zone

Titre: « La Formation des arriérés publics en Zone Franc »

Par Mbairo and Jean-François Brun
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Par Mbairo: CERDI - Centre d'Études et de Recherches sur le Développement International - IRD - Institut de Recherche pour le Développement - CNRS - Centre National de la Recherche Scientifique - UCA - Université Clermont Auvergne
Jean-François Brun: UCA - Université Clermont Auvergne

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Abstract: Public Arrears (ARP) are defined as amounts that are both unpaid and overdue on the payment due date; they are overdue. The question of ARP of the debt crisis of the fiscally vulnerable economies of Africa in the 1990s is still relevant in the Franc Zone (ZF), our observation area. Based on a sample of fourteen ZF countries, the article uses the Dynamic Ordinary Least Squares (DOLS) model in annual panel data from 2000 to 2018. Does the accumulation of ARPs result from the weakness of the State's public accounting system? Does a country's membership in an economic and monetary union impose constraints on financing its budget deficit while accumulating its public arrears? The results highlight seven factors for creating ARP in ZF, identify and analyze the main macroeconomic causes.

Keywords: Public arrears; governance; economic and sociopolitical shocks; Arriérés publics gouvernance chocs économiques et sociopolitiques Public arrears governance economic and sociopolitical shocks; Arriérés publics; gouvernance; chocs économiques et sociopolitiques Public arrears (search for similar items in EconPapers)
Date: 2024-08-15
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Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-04750480

DOI: 10.5089/9781513514055.086.ch03

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