The Quest for Higher Growth in the WAEMU Region : The Role of Accelerations and Decelerations

Author/Editor:

Montfort Mlachila ; Tidiane Kinda

Publication Date:

July 1, 2011

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

With the exception of Burkina Faso and Mali, the growth experience for WAEMU countries has been disappointing, even when compared to other sub-Saharan African (SSA) countries. The main objective of the paper is to investigate why the quest for a growth takeoff has been more elusive in the WAEMU countries compared to other SSA countries. To do this, the paper focuses on the determinants of growth accelerations and decelerations in SSA and the WAEMU. It finds that the variables most closely associated with growth accelerations and decelerations in SSA are changes in terms of trade, private investment, civil tension, real exchange rates, and inflation. Second, as found elsewhere in the literature, there is a certain asymmetry between accelerations and decelerations, in both frequency and determinants, and that the WAEMU region is quite different from the rest of SSA.

Series:

Working Paper No. 11/174

Subject:

English

Publication Date:

July 1, 2011

ISBN/ISSN:

9781462313310/1018-5941

Stock No:

WPIEA2011174

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

15

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