Structural Vulnerability and Excessive Public Indebtedness in CFA Franc Zone Countries - HAL Accéder directement au contenu
Pré-publication, Document de travail Année : 2012

Structural Vulnerability and Excessive Public Indebtedness in CFA Franc Zone Countries

Résumé

This paper relies on the 'institutional debt rule' implemented in Franc Zone countries to assess whether the structural vulnerability of these countries matter for their probability to enter into excessive indebtedness. This structural vulnerability is measured by retrospective 'Economic Vulnerability Index' (EVI) recently computed jointly by the United Nations and Guillaumont et al., (2011). We observe evidence that the impact of 'EVI' is non-linear with respect to the probability of these countries to engage into excessive indebtedness and that, this effect appears to be the same for the two monetary areas belonging to the CFA Franc Zone countries: a rise of EVI induces a higher probability of excessive debt and for higher EVI, this probability declines. Consequently, international development institutions such as the Bretton Woods should take into account such vulnerability in their assessment of the adequate development policies and recommendations to these countries.
Fichier principal
Vignette du fichier
2012.37.pdf ( 542.29 Ko ) Télécharger
Origine : Fichiers produits par l'(les) auteur(s)
Loading...

Dates et versions

halshs-00749470, version 1 (07-11-2012)

Identifiants

  • HAL Id : halshs-00749470 , version 1

Citer

Sèna Kimm Gnangnon. Structural Vulnerability and Excessive Public Indebtedness in CFA Franc Zone Countries. 2012. ⟨halshs-00749470⟩
165 Consultations
293 Téléchargements
Dernière date de mise à jour le 16/06/2024
comment ces indicateurs sont-ils produits

Partager

Gmail Facebook Twitter LinkedIn Plus