Chocs et redéfinition des objectifs macroéconomiques vers une redéfinition du rôle de l’État

Kahambwe, Christ and Muya, Jonathan and Nsele, Moïse (2025): Chocs et redéfinition des objectifs macroéconomiques vers une redéfinition du rôle de l’État.

Abstract

his paper explores how both external and internal shocks act as catalysts for the reassessment of macroeconomic objectives and the redefinition of the role of the State in economic governance. In recent decades, a succession of economic crises—ranging from global financial disruptions to pandemics and commodity price volatility—has exposed the structural weaknesses and limitations of prevailing macroeconomic paradigms. These traditional frameworks, often centered on market efficiency and minimal state intervention, have proven insufficient in addressing systemic vulnerabilities and ensuring long-term stability, particularly in developing and resource-dependent economies.

The paper argues that these shocks necessitate a paradigmatic shift in public policy orientation, whereby the State must evolve from a passive market facilitator into an active economic stabilizer and strategic investor. Drawing on empirical insights and theoretical frameworks, the authors analyze how governments can play a proactive role in strengthening economic resilience through counter-cyclical policies, strategic investment in public goods, and improved institutional capacity.

Particular attention is given to the African context, where economic structures are often highly sensitive to exogenous shocks due to limited diversification, weak fiscal buffers, and overreliance on commodity exports. In such settings, the need for adaptive and forward-looking policy frameworks becomes even more pressing. The paper underscores the importance of redefining fiscal and monetary priorities, not only to manage shocks in the short term but also to lay the groundwork for inclusive and sustainable development.

Furthermore, the authors emphasize the role of the State in promoting structural transformation through targeted support for key sectors, infrastructure development, and investments in human capital. A strategic public sector engagement, guided by clear macroeconomic objectives, can reduce socioeconomic inequalities and create the conditions for a more robust and self-reliant economy.

In conclusion, the paper advocates for a recalibration of macroeconomic governance that places resilience, sustainability, and equity at the core of policy design. Such a transformation calls for rethinking the balance between markets and the State, not as a binary choice, but as a dynamic complementarity necessary for development in an increasingly uncertain and interdependent global economy.

• Item Type: MPRA Paper
• English Title: Shocks and the Redefinition of Macroeconomic Objectives: Toward a New Role of the State
• Language: French
• Keywords: Macroeconomic shocks, public policy, State intervention, economic and resilience Structural transformation
• Subjects: E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook > E60 - General; E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook > E61 - Policy Objectives ; Policy Designs and Consistency ; Policy Coordination; H - Public Economics > H1 - Structure and Scope of Government > H12 - Crisis Management; H - Public Economics > H5 - National Government Expenditures and Related Policies > H54 - Infrastructures ; Other Public Investment and Capital Stock; O - Economic Development, Innovation, Technological Change, and Growth > O2 - Development Planning and Policy > O20 - General

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