This paper evaluates the link between fiscal policy and growth. For this purpose, we evaluate the influence of the level of public expenditures and revenues as well as the composition of the budget on economic growth. Relying on data provided by African Development Indicators, our sample is made of 9 countries of the CFA Franc Zone over the period 1990-2010. Focusing on panel data techniques, our analysis leads to the following results: (i) public expenditures reduce significantly growth; (ii) an increase in revenues is associated with positive GDP per capita growth even though the relation is not statistically significant; (iii) the composition of the budget matter on economic growth process especially indirect taxes (which enhance GDP per capita growth) and wages and salaries (which harmful growth).
The aim of this study is to compare empirical performance of traditional as well as Divisia monetary aggregates. This evidence comes from the comparison of their relative performance in terms of real GDP and inflation within 1992.1 and 2007.4. For this purpose, the study uses in-sample and out-of-sample approaches. The in-sample approach focuses on variance decomposition analysis. Concerning out-of-sample analysis, a forecasting model is estimated through 2003:4 and forecast are generated for the period 2004:1-2007:4. The study leads to the following results. Inflation and real GDP are better explained respectively by Divisia M2 and simple sum M2 in BEAC. In BCEAO, the contribution of each monetary aggregate to the fluctuations of inflation and real GDP is very worst except simple sum M2 in explaining price level. Considering the forecasting ability, it appears that at the narrowest level of aggregation, there is no difference between the two types of monetary aggregates in the two Central Banks. At the broader level, Divisia M2 has a slight edge over traditional M2 in predicting real GDP in BEAC. In BCEAO, simple sum M2 dominates Divisia M2 in explaining inflation. JEL Classification: B22 C32 C43 C53 E52
One of the objectives of the Cameroon Health Sector Strategy is to improve the efficient use of resources in the health sector. To accomplish this goal, the government implemented a series of reforms to improve accountability among the different stakeholders of the health sector. This paper employs data from 54 peripheral public health centre (PHC) from the Cameroon 2004 PETS to examine the extent to which the observed performances of the health sector are related to the institutional reforms. We find that the average technical efficiency score is around 0.7098 and that urban PHC perform better than rural ones. We also find that compact failures have a deterrent effect on the technical efficiency of these PHC and that client-power is an effective way of overcoming these government failures. As competition between public and private healthcare facilities has a negative effect on PHC performances, this study calls for institutional mechanisms that will reduce sorting, promote equal access to quality healthcare services between rich and poor people, and advocates for the participation of the local population in the management of PHC.
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