@workingpaper{NGUENA2014,
title = {Macroeconomic Factors and Dynamics of Financial Deepening: An empirical Investigation applied to the CEMAC Sub-region},
author = {Roger TSAFACK NANFOSSO Christian Lambert NGUENA},
editor = {African 2014 Governance and Development Institute WP/14/015},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Macroeconomic.Factors.and.Dynamics.of.Financial.Deepening.pdf},
year = {2014},
date = {2014-09-01},
abstract = {This article empirically estimates a micro-founded model with the aim to investigate the
leading macroeconomic determinants and dynamics of financial deepening in the CEMAC
sub-region. For this purpose, we adopted an empirical investigation in both static and dynamic
panel data econometrics which has led to the following global recommendations: firstly, the
CEMAC sub-region authorities should implement expansionary policies of GDP growth rate,
population density, savings rate and exchange rate. Secondly, they should review their policy
of trade liberalization since it appears to be negatively related to financial deepening.
Concerning the dynamic aspect, a convergent dynamic and the feasibility of common
monetary policy targeting depth in CEMAC sub-region have been highlighted.},
keywords = {CEMAC, economic growth., Financial deepening, panel data econometrics, principal component analysis},
pubstate = {published},
tppubtype = {workingpaper}
}