Volume 25, Issue 1, June 2016, Pages 246–262
Fidèle MATITI LUKWESA1 and Claude BENEMUNGU BISANGA2
1 Faculté des sciences économiques et de gestion, ULGL/BUKAVU, RD Congo
2 Faculté des sciences économiques et de gestion, ULGL/BUKAVU, RD Congo
Original language: French
Copyright © 2016 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
This article examines the difficulties of monetary policy in the context of the Democratic Republic of Congo influenced by extensive dollarization in the banking system and institutional weakness. The primordial objective devolve to every government within a given community is to ensure the social welfare of its people. To achieve this goal, governments should develop their monetary policy. One of these is actually a setting of several policies (monetary, fiscal, agricultural ....) all these can be Combined in order to achieve a number of ultimate objectives namely the economic growth, price stability, full employment and external balance whose achievement entrusted to the welfare of the population. In this context, the monetary policy's role is to provide to the real sector the quantity of money necessary for the expansion of the economic activities without generating inflationary or deflationary situations. Indeed, the failure of fiscal policy in the DRC is explained by the tax evasion issues, failure of public finance, and under-evaluation of the tax base. Regarding the monetary policy, its failure is due to the dominance of fiscal policy on monetary policy to the extent that the government of our country remains faithful to financing the budget deficit by the advances from the BCC without any concern of stabilizing the prices.
Author Keywords: Monetary Policy, monetary stability, Inflation, general price level.
Fidèle MATITI LUKWESA1 and Claude BENEMUNGU BISANGA2
1 Faculté des sciences économiques et de gestion, ULGL/BUKAVU, RD Congo
2 Faculté des sciences économiques et de gestion, ULGL/BUKAVU, RD Congo
Original language: French
Copyright © 2016 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
This article examines the difficulties of monetary policy in the context of the Democratic Republic of Congo influenced by extensive dollarization in the banking system and institutional weakness. The primordial objective devolve to every government within a given community is to ensure the social welfare of its people. To achieve this goal, governments should develop their monetary policy. One of these is actually a setting of several policies (monetary, fiscal, agricultural ....) all these can be Combined in order to achieve a number of ultimate objectives namely the economic growth, price stability, full employment and external balance whose achievement entrusted to the welfare of the population. In this context, the monetary policy's role is to provide to the real sector the quantity of money necessary for the expansion of the economic activities without generating inflationary or deflationary situations. Indeed, the failure of fiscal policy in the DRC is explained by the tax evasion issues, failure of public finance, and under-evaluation of the tax base. Regarding the monetary policy, its failure is due to the dominance of fiscal policy on monetary policy to the extent that the government of our country remains faithful to financing the budget deficit by the advances from the BCC without any concern of stabilizing the prices.
Author Keywords: Monetary Policy, monetary stability, Inflation, general price level.
Abstract: (french)
Le présent article examinera les difficultés de la politique monétaire de la République du CONGO dans un contexte de dollarisation poussée du système bancaire et de faiblesse institutionnelle. L’objectif primordial dévolu à tout gouvernement au sein d’une communauté donnée est d’assurer le bien-être social de sa population, pour atteindre cet objectif, les gouvernements font élaborer leur politique monétaire. Celle -ci est en fait un ensemble des plusieurs politiques (monétaires, budgétaires, agricoles ….) Combiné en vue d’atteindre un certain nombre des objectifs ultimes, à savoir la croissance économique, la stabilité de prix, le plein emploi et l’équilibre extérieur dont la réalisation confiée le bien- être de la population. Dans cette perspective, la politique monétaire a pour rôle de fournir au secteur réel la quantité de monnaie nécessaire à l'expansion des activités économiques sans engendrer le dérapage inflationniste ou déflationniste. En effet, l'échec de la politique budgétaire en RDC est expliqué par des problèmes d'évasion fiscale, la défaillance des finances publiques, de fraude fiscale et la sous-évaluation de l'assiette fiscale. En ce qui Concerne la politique monétaire, son échec est dû à la domination de la politique budgétaire sur la politique monétaire dans la mesure où le gouvernement de notre pays reste fidèle au financement du déficit budgétaire par les avances de la BCC sans aucun souci de stabiliser les prix.
Author Keywords: Politique monétaire, stabilité monétaire, inflation, niveau général des prix.
How to Cite this Article
Fidèle MATITI LUKWESA and Claude BENEMUNGU BISANGA, “ANALYSE DE LA CORRELATION ENTRE LA POLITIQUE MONETAIRE ET LE NIVEAU GENERAL DES PRIX : CAS DE LA RD CONGO DE 2002 A 2013,” International Journal of Innovation and Scientific Research, vol. 25, no. 1, pp. 246–262, June 2016.
