[ POLITIQUE BUDGETAIRE ET STABILISATION DE LA COMPOSANTE PERMANENTE DES CHOCS ASYMETRIQUES AU SEIN DE L’UEMOA ]
Volume 35, Issue 2, March 2018, Pages 69–82
Honoré Sèwanoudé HOUNGBEDJI1
1 Faculté des Sciences Economiques et de Gestion, Université d’Abomey-Calavi (UAC), 01 BP : 1287 Cotonou, Benin
Original language: French
Copyright © 2018 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 paper measures the effectiveness of the Convergence Pact, Stability, Growth and Solidarity to stabilize the permanent component of various asymmetric shocks within the WAEMU countries. From the techniques of non-stationary panel econometrics and polynomial approach, we specify an empirical model whose data cover the period 1983-2015. The results show that, for better mitigation of the different components of asymmetric shocks and stimulation of economic activity, it would on average produce a basic fiscal balance by 3% in terms of tolerable deficit. This target is in line with the standard adopted by the new provisions of the Convergence Pact, Stability, Growth and Solidarity.
Author Keywords: Basic fiscal balance, Asymmetric Shocks, Not Stationary Panel, Pooled Mean Group, WAEMU.
Volume 35, Issue 2, March 2018, Pages 69–82
Honoré Sèwanoudé HOUNGBEDJI1
1 Faculté des Sciences Economiques et de Gestion, Université d’Abomey-Calavi (UAC), 01 BP : 1287 Cotonou, Benin
Original language: French
Copyright © 2018 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 paper measures the effectiveness of the Convergence Pact, Stability, Growth and Solidarity to stabilize the permanent component of various asymmetric shocks within the WAEMU countries. From the techniques of non-stationary panel econometrics and polynomial approach, we specify an empirical model whose data cover the period 1983-2015. The results show that, for better mitigation of the different components of asymmetric shocks and stimulation of economic activity, it would on average produce a basic fiscal balance by 3% in terms of tolerable deficit. This target is in line with the standard adopted by the new provisions of the Convergence Pact, Stability, Growth and Solidarity.
Author Keywords: Basic fiscal balance, Asymmetric Shocks, Not Stationary Panel, Pooled Mean Group, WAEMU.
Abstract: (french)
Ce papier mesure l’efficacité du Pacte de Convergence, de Stabilité, de Croissance et de Solidarité à stabiliser la composante permanente des chocs asymétriques au sein des pays de l’UEMOA. Nous utilisons des techniques de l’économétrie en panel non stationnaire et l’approche polynomiale sur des données couvrant la période 1983-2015. Les résultats révèlent que, pour une meilleure atténuation des différentes composantes des chocs asymétriques et d’une stimulation de l’activité économique, il faudrait en moyenne réaliser un solde budgétaire de base de 3% en termes de déficit tolérable. Cette cible est bien conforme à la norme retenue par les nouvelles dispositions du Pacte de Convergence, de Stabilité, de Croissance et de Solidarité.
Author Keywords: Solde budgétaire de base, Chocs Asymétriques, Panel non stationnaire, Estimateur de la Moyenne de Groupe Agrégée, UEMOA.
How to Cite this Article
Honoré Sèwanoudé HOUNGBEDJI, “FISCAL POLICY AND STABILIZATION OF PERMANENT COMPONENT OF ASYMETRIC SHOCKS IN THE WAEMU,” International Journal of Innovation and Scientific Research, vol. 35, no. 2, pp. 69–82, March 2018.
