Effets des politiques conjoncturelles sur la croissance économique en zone franc

• Autorzy: Franck Mondesir TSASSA MBOUAYILA

Warianty tytułu

Effects of cyclical policies on economic growth in the Franc Zone

• Języki publikacji: FR

Abstrakty

Cet article trouve son affiliation dans la théorie budgétaire du niveau des prix. Il propose l'étude simultanée des chocs conjoncturels en Zone franc, à l'aide d'un modèle PVAR structurel regroupant l'activité, les prix, un taux d'intérêt réel de court terme, le solde budgétaire primaire et la dette extérieure. Les effets et les délais de transmission des impulsions budgétaires et monétaires sur le PIB apparaissent différenciés dans les deux unions monétaires à court terme. Les composantes cycliques des taux de refinancement de la BEAC et BCEAO sont positivement liées à celles des déficits primaires dans la Zone franc. Les politiques budgétaires agissent négativement sur la croissance du PIB. Cependant les politiques monétaires produisent des chocs positifs sur l'évolution de la croissance économique dans ces deux Unions monétaires. Il est donc nécessaire que les autorités monétaires allègent les règles de politique monétaire en réduisant les taux d'intérêt, ce qui va également relancer l'activité. Et les gouvernements n'ont alors aucune incitation à accroître leur déficit.(abstrakt oryginalny)

EN

: This article finds its affiliation in the budgetary theory of the price level. It proposes the simultaneous study of cyclical shocks in the Franc Zone, using a structural PVAR model combining activity, prices, a real short-term interest rate, the primary budget balance and the external debt. The effects and transmission times of budgetary and monetary impulses on GDP appear to be differentiated in the two short-term monetary unions. The cyclical components of the BEAC and BCEAO refinancing rates are positively linked to those of the primary deficits in the Franc Zone. Fiscal policies have a negative effect on GDP growth. However, monetary policies produce positive shocks on the development of economic growth in these two monetary unions. It is therefore necessary that the monetary authorities relax the rules of monetary policy by reducing interest rates, which will also revive activity. And governments then have no incentive to increase their deficit.(original abstract)

Słowa kluczowe

PL

Polityka gospodarcza; Wzrost gospodarczy; Polityka budżetowa

EN

Economic policy; Economic growth; Budgetary policy

• Czasopismo: Revue Internationale des Economistes de Langue Française : revue de l'Association Internationale de Economistes de Langue Française avec la collaboration Université des Sciences Economiques et de Gestion
• Rocznik: 2021
• Tom: 6
• Numer: nr 2
• Strony: 51-76

Twórcy

autor

Franck Mondesir TSASSA MBOUAYILA

• Université Marien Ngouabi, Congo-Brazzaville

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Identyfikatory

DOI

10.18559/RIELF.2021.2.3