Based on the methodology adopted by Eichengreen and Luengnaruemitchai (2004), Luengnaruemitchai and Ong (2005), Borensztein and al. (2006), and Eichengreen and al. (2006), this study analyse the development of local bond markets. We show that the development of bond markets is a phenomenon with...

French Abstract: Nicolas Firzli nous fait partager certains des travaux menés par le World Pensions Council (WPC) et résume ici une partie des interventions du G7 Pensions qui s'est tenu fin août dernier, en marge du Sommet du G7 de Biarritz. Il livre des pistes de réflexions précieuses...

We study portfolio allocation and characterize contracts issued by firms in the international financial market when investors exhibit ambiguity aversion and perceive ambiguity in assets issued in foreign locations. Increases in the variance of their risky production process cause firms to issue...

Over the past four decades, developing countries have not been immune to international financial changes. Today, the destabilizing effects of financial liberalization are affecting even developed economies. This paper reviews the theoretical foundations and the different relationships between...

This article uses the push-pull factors approach to analyze the determinants of private capital flows (foreign direct investments, portfolio investments, and debt) in West African Economic and Monetary Union (WAEMU) over the period 1970-2003. The results show that (i) infrastructure, trade...

This paper analyzes the effects of the high economic openness of West African economies coupled with liability dollarization, on their economic activities. By using a dynamic stochastic general equilibrium model in a small open economy framework, and performing an experiment based on a case of...

This paper analyze the causality between copper production , public debt and poverty in D.R. Congo. The model shows that among the factors that are the basis of the welfare deterioration, there is the external debt which is a major obstacle to the fight against poverty.

Ce papier étudie les problèmes d’endettement extérieur du Cameroun en analysant son évolution globale (structure, service de la dette, conditions des emprunts, etc.). Cette analyse est complétée par l’examen de la dette intérieure compte tenu de son poids dans la dette totale du pays....

In the 1980s most of Sub-Saharan African countries (SSA) especially the HIPCs faced an unprecedented indebtedness. Different mechanisms of debt relief as well as economic reforms have been put in place with the objective of enabling these countries to reach long-term economic growth and reduce...

This article assesses one of the obstacles to economic growth in developing countries. It presents assessments that could improve their macroeconomic resilience in relation to external financing. Our objective is to examine the theory of over-indebtedness and to look for a threshold beyond which...