Autonomie des Banques Centrales et Finances Publiques en Afrique subsaharienne

Autonomy of Central Banks and Public Finances in Sub-saharan Africa

Dessy-Karl Tadadjeu Wemba and Patrick-Nelson Danie Essiane

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Autonomy of the Central Bank; fiscal deficits; Sub-Saharan Africa; panel data (search for similar items in EconPapers)
JEL-codes: E58 E61 E62 O43 O55 (search for similar items in EconPapers)
Date: 2018-10
New Economics Papers: this item is included in nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:100828

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