Faible financement bancaire dans la zone uemoa : une analyse des causes de ce mal récurrent

Cissé, Aboubakar Sidiki (2009): Faible financement bancaire dans la zone uemoa : une analyse des causes de ce mal récurrent.

Abstract

In this working paper, we analyze the causes of under bank financing in the WAEMU (West African economic and monetary union) zone is characterized by yet quasi-permanent bank liquidity and a stable currency (the CFA franc) with unlimited convertibility guaranteed by France. We have identified several factors that explain this phenomenon among which we can mention: the low banking penetration, the importance of the informal financial sector, the limited scope of monetary policy. One important outcome of this study is that a flexible monetary policy (inflation for a little more economic growth) could facilitate the access of entrepreneurs and private to banking services.

• Item Type: MPRA Paper
• English Title: Low financing in the waemu zone: an analysis of the causes of this disease recurring
• Language: French
• Keywords: liquidity, financial system, WAEMU, the CFA franc, bank financing, the real economy
• Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit; N - Economic History > N1 - Macroeconomics and Monetary Economics ; Industrial Structure ; Growth ; Fluctuations > N17 - Africa ; Oceania

References

Acemoglu, D., Zilibotti, F (1997), “Was Prometheus Unbound by Chance? Risk, Diversification, and Growth”, Journal of Political Economy, Vol.105, n°4.

Adams, D W., Fitchett D.A (1994), ‘’ Finance Informelle dans les Pays en Développement’’, Presse Universitaires de Lyon.

Banque de France (2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007,2008,2009,2010), Rapport Annuel sur la Zone Franc, Paris. BCEAO (2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007,2008,2009,2010), Rapport Annuel, Dakar.

Bencivenga, V., Smith, B (1991), “Financial Intermediation and Endogenous Growth” Review of Economic Studies, vol. 58, n°2.

CISSE, A. 2009, « Système financier et croissance économique : le cas de la zone UEMOA », Thèse de doctorat soutenue à l’Université Pierre Mendès France de Grenoble.

Greenwood, J., Jovanovic B (1990), “Financial Development, Growth, and the Distribution on Income”, Journal of Political Economy, Vol. 98, N°5, October.

GURLEY, J.G. et SHAW, E.S. 1973, La monnaie dans une théorie des actifs financiers, Editions Cujas.

Kpodar, K (2008), ‘’Développement Financier, Instabilité financière et Croissance Economique : Implications pour la Réduction de la Pauvreté ‘’, Edilivre.

Lee, J (1996), “Financial Development by Learning”, Journal of Development Economics, Vol. 50, n°1.

Levine, R. (1997), “Financial Development and Economic Growth: Views and Agenda”, Journal of Economic Literature, vol. XXXV, June.

MCKINNON, R.I. 1973, Money and capital in economic development, Washington DC, Brookings Institutions.

MCKINNON, R.I. 1988, “Financial Liberalization in retrospect: Interest rate policies in LDC’s” dans The state of Saint Paul, G. (1992), “Technological Choice, Financial Markets and Economic Development”, European Economic Review, vol. 36.

Stiglitz, J., Weiss, A. (1981), “Credit Rationing in Markets with Imperfect Information”, American Economic Review, vol. 71, n° 3, June.

UNDP (2007, 2008), Human Development Report, New-York. Venet, B (1997), ‘’Le Dualisme Financier dans les Pays en Voie de Développement’’, CREFED-CERPEM.