Open AccessDeterminants Du Developpement Financier Dans Les Pays De La Zone Franc Cfa: Le Role De La Qualite Des Institutions
Author(s) -
Kos à Mougnol Alice,
Pr Kamajou François
Publication year - 2016
Publication title -
european scientific journal
Language(s) - English
Resource type - Journals
eISSN - 1857-7881
pISSN - 1857-7431
DOI - 10.19044/esj.2016.v12n28p285
Subject(s) - language change , convergence (economics) , order (exchange) , politics , panel data , welfare economics , financial stability , economics , political stability , financial system , political science , economy , finance , economic growth , art , literature , law , econometrics
This paper aims at analysing the role of the quality of institutions (institutional factors) on financial development within the fourteen countries of the CFA Franc zone. For that purpose, the Pool Mean Group (PMG) method is used in order to estimate a linear model in dynamic panel data over the period 1996-2011. Findings show that the quality of some institutions (corruption, political stability, quality of regulation…) conditions or affects the improvement level of financial system of the above-listed countries. To contribute to the emergence of better developed finance and of course more productive, the paper stands for an “institutional convergence” as one of the assets of financial development in the CFA Franc countries.