Abstract
Having become aware of the financial status of underdeveloped countries of the West African Economic and Monetary Union (WAEMU) and the potential role of institutional factors in the effectiveness of financial development policies,this study proposes an analysis of the impact of institutional quality on the success of their financial development policy.The results of the study show that institutions have a decisive impact on the finance effect on economic growth and development. The study explains that since independence(1960) to the present, various financial development policies have not paid off. The author, therefore, assigns a cause for these,institutional deficiencies, and inconsistencies in the choice of economical and financial policies and shortcomings in the quality of governance. This study emphasizes the role of institutions and a favorable legal and institutional environment for the formation of a foundation for healthy financial development.
Highlights
Developing countries, those from the West African Economic and Monetary Union (WAEMU), are characterized by economic, political, and social structures that do not meet the basic needs of the population
We have shown through econometric estimates both on developed countries and those of the West African Economic system can be explained by shortcomings in their institutions and governance mechanisms
As part of our research, we found it useful to focus on the internal dynamics of development, namely the links
Summary
Developing countries, those from the West African Economic and Monetary Union (WAEMU), are characterized by economic, political, and social structures that do not meet the basic needs of the population. The rates of economic growth in that area of Africa are relatively low and are characterized by excess volatility This economic and monetary zone has a rather significant financial delay over the developing countries between the institutional and the financial aspects. By exploring this new shortcomings of the WAEMU financial sector To this path of research, it becomes possible to explain to end, we proceed to a second econometric estimation some extent the economic and especially financial (both static and dynamic) on a control sample, made up difficulties of developing countries. In this perspective, of countries with different characteristics from those of an adequate institutional framework would contribute to the WAEMU countries, that is to say, OECD countries
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Global Journal of Management and Business Research
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
