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Monday, July 20, 2020 | History

1 edition of Growth and convergence in WAEMU countries found in the catalog.

Growth and convergence in WAEMU countries

Growth and convergence in WAEMU countries

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Published by International Monetary Fund, African Dept. in [Washington D.C.] .
Written in English

    Subjects:
  • Union économique et monétaire ouest africaine.,
  • Africa, West -- Economic conditions.,
  • Africa, West -- Economic policy.

  • Edition Notes

    Statementprepared by Abdoul Aziz Wane.
    SeriesIMF working paper -- WP/04/198
    ContributionsWane, Abdoul Aziz., International Monetary Fund. African Dept.
    The Physical Object
    Pagination35 p. :
    Number of Pages35
    ID Numbers
    Open LibraryOL20005710M

    To ensure macroeconomic stability and support the growth of the West African Economic and Monetary Union (WAEMU), member states must adjust budget deficits to the convergence criterion (3% of . university of cape coast. income convergence in the ecowas region. by. emmanuel amoateng. thesis submitted to the department of economics, faculty of social sciences, university of cape coast, in partial fulfilment of the requirements for award of master of philosophy degree in economics. december, digitized by ucc, library.

    This book explores the issues linked to regional integration in West Africa and presents empirical data about the experiences in = West African Economic and Monetary Union (WAEMU) countries to . Convergence, Divergence, Opening, Growth, Within, Africa. JEL Classification: O47, O19, F Contribution/ Originality This study documents the relationship between the Pact of Convergence Growth Stability and Solidarity and the real convergence of a group of .

    economic growth. Bénabou uses a test of “sigma convergence”, finding ambiguous results, and Ravallion uses a test of “beta convergence”, finding evidence of convergence. Quah (a, b) has criticized both sigma convergence and beta convergence as tests of convergence in distribution. The neoclassical theory of growth does predict that each economy converges to its own steady state and the speed of convergence relates inversely to the distance from the steady state. In other words, the model predicts conditional convergence in the sense that a lower starting value of real per capita income tends to generate a higher per.


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Growth and convergence in WAEMU countries Download PDF EPUB FB2

WAEMU countries adopted in a re gional “ Pact of Convergence, Stability, Growth, and Solidarity ” to strengthen economic stability and incr ease growth through regional : Abdoul Aziz Wane.

This paper investigates convergence and dynamic effects of human and physical capital on growth, in WAEMU countries. Using recently developed models for panel data and a growth accounting model, the study finds that growth is largely explained by changes in literacy rates and factor accumulation, but not by growth of total factor productivity (TFP).

This paper investigates convergence and dynamic effects of human and physical capital on growth, in WAEMU countries. Using recently developed models for panel data and a growth accounting model, the study finds that growth is largely explained by changes in literacy rates Growth and convergence in WAEMU countries book factor accumulation, but not by growth of total factor productivity (TFP).Cited by: 6.

WAEMU countries adopted in a regional “Pact of Convergence, Stability, Growth, and Solidarity ” to strengthen economic stability and increase growth through regional integration. The Pact stresses the need to reinforce convergence of performance and macroeconomic. The objective of this study is to analyze the role played by basic infrastructure in the growth and convergence of the economies of the West African Economic and Monetary Union (WAEMU).

Countries that lack a solid infrastructure, possess an unstable government, or do not possess an educated populace are unable to benefit from the technological advances that are enjoyed by the industrialized countries and are thus not covered under the idea of convergence.

This can be illustrated clearly. Say two countries produce widgets. Abstract. In the WAEMU area, nominal convergence is regularly monitored and is the object of increasing interest. However, few studies have focussed on the real convergence of WAEMU countries, and in particular the contribution the Convergence, Stability and Growth Pact (CSGP) has made to the dynamics of real convergence.

countries that are often remote from nominal objectives adopted, and could even lead to real divergence raising behavior of "free Ridding" in response to asymmetric shocks.

To avoid this, WAEMU countries found it necessary to adopt a Pact of Convergence, Stability, Growth and Solidarity. The answer will depend on developing economies’ ability to find and tap new, more advanced sources of growth.

In the past, the key engine of convergence was manufacturing. Developing countries that had finally acquired the needed skills and institutions applied advanced-country technologies locally, benefiting from plentiful, low-cost labor. The results of the study show that there is weak absolute convergence within the Union and that the educational policies, just as the openness policies, could accelerate growth and convergence in these countries.

The study also notes the presence of sigma convergence for. sample. Simple regressions for the growth rate of real per capita GDP from to for 98 countries indicate lack of convergence. The initially rich countries (in ) tended to grow at least as fast in per capita terms as the initially poor countries.

We then add some additional explanatory variables, such as starting values of school. The future of economic convergence With advanced-economy growth having ground to a halt, developing countries’ lead in per capita growth increased to four percentage points.

Assessment of the Convergence Mechanism. Experience suggests that the convergence criteria and associated regional surveillance process have contributed to fiscal consolidation in the WAEMU ().However, while substantial progress was made during an initial period (), there has been a marked slowdown in fiscal convergence among member states since The idea of convergence in economics (also sometimes known as the catch-up effect) is the hypothesis that poorer economies' per capita incomes will tend to grow at faster rates than richer economies.

As a result, all economies should eventually converge in terms of per capita income. Developing countries have the potential to grow at a faster rate than developed countries because diminishing. The impact of monetary policy on economic activity in integrated currency areas may be affected by factors that are primarily related to the convergence of economic structures and fiscal policies.

In economic analysis, convergence is used to characterize the process of reconciling economies with respect to certain macroeconomic variables. This notion could involve both real and nominal.

FREE TRADE, GROWTH, AND CONVERGENCE steady state (in the absence of any additional changes in commercial policy), the relative improvement of one country vis-`a-vis the other countries will persist in the long-run.

At this juncture, it is important to clarify the boundaries of. Economic Growth and Convergence across The United States Robert J. Barro, Xavier Sala-i-Martin. NBER Working Paper No. Issued in August NBER Program(s):Economic Fluctuations and Growth A key economic issue is whether poor countries or regions tend to grow faster than rich ones: are there automatic forces that lead to convergence over time in levels of per capita income and product.

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The purpose of this study is to address the gap in research on real convergence in the WAEMU. We have referred to the methodology of Carlino and Mills (), which combines the analysis of stochastic and β-convergence.

Perron () has shown that neglecting structural breaks in unit root tests can lead to erroneous conclusions; therefore, we have used the. a non-linear relationship between taxation and economic growth of WAEMU countries.

Tanzi () also finds that total tax revenue has high positive significance to the change in GDP, in which four of the components of tax revenue (GST, IPCT, ITT, and TTR).

However, the impacts of tax revenue were not consistent for all countries in the four. Baumol, W. J. (). Productivity Growth, Convergence, and Welfare What the Long-Run Data Show. The American Economic Review, 76, growth and its impact on the convergence hypothesis.

Using a sample of European regions over 25 years, ‘standard’ growth regressions are estimated using panel data techniques. Both the effect of agglomeration within one’s own region and the interregional aspect of agglomeration are looked at. The.In the paper “Economic growth and convergence in poor countries” the author will provide the analysis of the problems, which developing countries face on the way to economic growth and will prove that in order to stimulate economy, it is necessary to provide innovations in marketing and management.