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Modélisation des effets des réformes institutionnelles sur le développement financier pour la croissance économique en zone CEMAC

Modeling the effects of institutional reforms on financial development for economic growth in the CEMAC zone

Gérard Tchouassi and Christian Parfait Tomo

MPRA Paper from University Library of Munich, Germany

Abstract: This article studies the effects on economic growth of institutional reforms of financial development in the Central African Economic and Monetary Community. The results obtained using the method of generalized moments on a balanced panel show that the institutional reforms of financial development have contributed to economic growth. However, credit to the private sector does not contribute to economic growth. Furthermore, the results indicate that public spending and trade openness of economies do not contribute to economic growth. On the one hand, States must pursue reforms relating to financial development, in particular the extent of interoperability and interbanking of electronic payment systems and means of payment in order to take advantage of the digitalization of the economy to increase financial inclusion. On the other hand, States should take advantage of the continental free trade area.

Keywords: Institutional reforms; Financial development; Economic growth; Panel data; GMM; CEMAC (search for similar items in EconPapers)
JEL-codes: D51 D82 F43 G2 (search for similar items in EconPapers)
Date: 2022-06-21, Revised 2022-06-17
New Economics Papers: this item is included in nep-dem, nep-fdg and nep-fle
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