The Quest for Higher Growth in the WAEMU Region: The Role of Accelerations and Decelerations

July 1, 2011

Preview Citation

Format: Chicago

Montfort Mlachila, and Tidiane Kinda. The Quest for Higher Growth in the WAEMU Region: The Role of Accelerations and Decelerations, (USA: International Monetary Fund, 2011) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

With the exception of Burkina Faso and Mali, the growth experience for WAEMU countries has been disappointing, even when compared to other sub-Saharan African (SSA) countries. The main objective of the paper is to investigate why the quest for a growth takeoff has been more elusive in the WAEMU countries compared to other SSA countries. To do this, the paper focuses on the determinants of growth accelerations and decelerations in SSA and the WAEMU. It finds that the variables most closely associated with growth accelerations and decelerations in SSA are changes in terms of trade, private investment, civil tension, real exchange rates, and inflation. Second, as found elsewhere in the literature, there is a certain asymmetry between accelerations and decelerations, in both frequency and determinants, and that the WAEMU region is quite different from the rest of SSA.

Subject: Balance of payments, Expenditure, Foreign direct investment, Income, Inflation, International trade, National accounts, Prices, Private investment, Public investment spending, Terms of trade

Keywords: Country, Deceleration in WAEMU, Decelerations in SSA, Experience for West African Economic and Monetary Union, Foreign direct investment, Growth accelerations and decelerations, Growth performance, Income, Inflation, Macroeconomic management, Mali, Policy recommendation, Private investment, Public investment spending, SSA country, Sub-Saharan Africa, Terms of trade, WAEMU, WAEMU average, WAEMU country, WAEMU dummy, WAEMU need, WAEMU region, WP

Publication Details

Pages:

15
Volume:

---
DOI:

---
Issue:

---
Series:

Working Paper No. 2011/174
Stock No:

WPIEA2011174
ISBN:

9781462313310
ISSN:

1018-5941

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Working Papers