West African Economic and Monetary Union arrangements have been instrumental in helping member countries maintain low inflation. However, a lesser-known characteristic of the West African Economic and Monetary Union, with possible implications for economic growth, is the high exposure to shocks...

Evidence from a large panel of low-income and lower middle-income countries over the period 1995-2012 suggests that, contrary to other countries, public investment in the West African Economic and Monetary Union (WAEMU) has been pro-cyclical. Public investment contracts more in "bad times" than...

This paper analyses the links between growth and public capital accumulation for a panel of 28 developing countries over eleven years (1981-1991). We estimate a simultaneous equations model to explain the GDP, as well as public and private capital formation. Accumulating public, private and...

This paper analyses the links between growth and public capital accumulation for a panel of 28 developing countries over eleven years (1981-1991). We estimate a simultaneous equations model to explain the GDP, as well as public and private capital formation. Accumulating public, private and...