This paper analyzes the effects of economic policy on firm performance in developed and developing countries, using a sample of firms classified by turnover. The methodology refers to the estimation of the dynamic panel fixed effects model. The results show that the priority economic policy tools based on price, balance of payments and employment control do not influence firm performance. However, debt increases the performance of firms in Africa. In high-income countries and China, it is savings and exchange rate policies that have a positive effect on firm performance. It is recommended that policymakers in Africa adopt a debt policy based on borrowing in compliance with ceilings and concessional interest rates so as not to increase debt service and suffocate the government's cash flow. In developed countries, the savings policy must be maintained at the same pace as the mobilization of savings to meet the needs of growth sectors. Exchange rate policy must be able to absorb shocks and always adapt to the market.
This article aims to explain the performance of the banking system in the Central African Economic and Monetary Community (CEMAC) during a crisis period by exploring the average value of the bank profitability indicator. A comparative reading of this indicator between 1986 and 2020 shows that profitability during a crisis period is higher than during the normal period. Using an analysis of the model of banking performance with the method of generalized moments (GMM), the results show that the contradiction relating to the banking performance is explained by: 1)- the strong presence of the State in the capital of commercial banks in the CMEAC zone during the crisis; 2)- the decline in liquidity characteristic of crisis periods also explains this performance of the CEMAC banking sector. It is recommended that the monetary authorities ensure that their decisions are strictly applied by commercial banks in normal times as well as in times of crisis
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