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La crédibilité des politiques monétaires affecte-t-elle la croissance économique en Afrique subsaharienne?

Tadadjeu Wemba, Dessy-Karl and Essiane, Patrick-Nelson Daniel (2019): La crédibilité des politiques monétaires affecte-t-elle la croissance économique en Afrique subsaharienne?

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Abstract

This study proposes to highlight the effect of greater Monetary Policy Credibility (CPM) on economic growth in Sub-Saharan Africa (SSA) during the period 1980-2017. The econometric approach based on dynamic panel data is mainly used for our estimates. The main results show a limited and insignificant effect of the credibility indicator on economic activity, mainly due to the ineffectiveness of the monetary policy transmission channels. This contradiction has led us to recommend for our part the promotion of a monetary policy oriented towards improving economic growth in Sub-Saharan Africa, but without however prejudicing the constraint of price stability.

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