The paper contributes to the literature on the convergence of financial systems in the euro area by estimating household credit demand in individual countries. Using the ARDL framework advocated notably by Pesaran et al. (1999), the paper provides evidence on the convergence of long run credit...

In this paper, we rely on panel cointegration techniques to estimate the equilibrium exchange rate of the CFA Franc according to the BEER approach (Behavioural Equilibrium Exchange Rate). Examination of the CFA Franc estimated misalignments revealed that flexibility for the CFA zone in terms of...

This paper seeks to explore the impact of oil price shocks, real industrial production and interest rate on stock prices for six oil exporting countries and five oil importing countries using nonlinear autoregressive distributed lags (NARDL)model using monthly data for the period 1993 :...

With increasing energy needs and a continuous rise in hydrocarbon prices, this work aims to evaluate the link between energy and the economy in Madagascar. The enhancement of these links improves the socio-economic impacts of energy policies: what should contribute to development. Electricity,...

With increasing energy needs and a continuous rise in hydrocarbon prices, this work aims to evaluate the link between energy and the economy in Madagascar. The enhancement of these links improves the socio-economic impacts of energy policies: what should contribute to development. Electricity,...

With increasing energy needs and a continuous rise in hydrocarbon prices, this work aims to evaluate the link between energy and the economy in Madagascar. The enhancement of these links improves the socio-economic impacts of energy policies: what should contribute to development. Electricity,...

This paper examines the dynamics of volatility transmission among, the oil market, the U.S financial market and the financial markets of four oil producing countries (Venezuela, Indonesia, Russia and Kuwait). The study uses a trivariate GARCH model with BEKK parameterization. The findings show...

As a result of the sharp oil price during the late 1970's and early 1980's, Congo's exports(and Cameroon's ones to a lesser extent) became more concentrated on oil. One may say that a Dutch Disease occurred if we refer to the Congo's core export sector. However, this study shows that there is no...

The two oil shocks of the 1970s reduced the GDP growth rate. Since that period, sudden oil price increases have been considered as a major source of economic slowdown. We estimate VAR models and Markov-Switching models to evaluate the impact of oil price increases on French growth. Our results...