Courbe de Laffer de la relation entre la dette publique et la croissance en Afrique : importance de la qualité institutionnelle

• Autorzy: Idrys Fransmel OKOMBI

Warianty tytułu

Laffer curve of the relationship between public debt and growth in Africa: The importance of institutional quality

• Języki publikacji: FR

Abstrakty

Plusieurs travaux soutiennent l'idée selon laquelle il existe un niveau d'endettement (point de retournement), au-delà duquel la dette publique commence à réduire la croissance économique. Toutefois, le seuil estimé varie selon les études et donne un aperçu incomplet du niveau d'endettement qui maximise la croissance. Selon l'état de nos connaissances, aucune étude n'a expliqué les causes de cette variation dans le contexte des pays d'Afrique. Cette étude vise à montrer que le seuil de la dette qui maximise la croissance dépend du niveau de la corruption, de la qualité de la démocratie et de l'efficacité du gouvernement. Pour y parvenir, nous avons pris appui sur un échantillon de 45 pays africains, pour la période couvrant 1996-2018. Nos résultats, obtenus par les méthodes d'estimations LSDVC et GMM-SYS suggèrent que les niveaux d'endettement public au-dessus desquels la croissance diminue, varient en fonction de la qualité des institutions. Plus précisément, lorsque la qualité institutionnelle est bonne, l'effet négatif de la dette publique sur la croissance se produit à des taux d'endettement plus élevés.(abstrakt oryginalny)

EN

Several studies support the idea that there is a debt level (turning point), beyond which public debt starts to reduce economic growth. However, the estimated threshold varies between studies and gives an incomplete picture of the level of debt that maximises growth. To the best of our knowledge, no study has explained the causes of this variation in the context of African countries. This study aims to show that the threshold of growthmaximising debt depends on the level of corruption, the quality of democracy and the effectiveness of government. To do so, we used a sample of 45 African countries for the period 1996-2018. Our results using the LSDVC and GMM-SYS estimation methods suggest that the levels of public debt above which growth declines vary with institutional quality. More precisely, when institutional quality is good, the negative effect of public debt on growth occurs at higher debt levels.(original abstract)

Słowa kluczowe

EN

Public debt; Growth model; Institutions

PL

Dług publiczny; Modele wzrostu; Instytucje

• Czasopismo: Revue Internationale des Economistes de Langue Française : revue de l'Association Internationale de Economistes de Langue Française avec la collaboration Université des Sciences Economiques et de Gestion
• Rocznik: 2021
• Tom: 6
• Numer: nr 2
• Strony: 9--36

Twórcy

autor

Idrys Fransmel OKOMBI

• Université Marien Ngouabi, Congo-Brazzaville

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Identyfikatory

DOI

10.18559/RIELF.2021.2.1