Fiscal rules and the pro-cyclicality of public investment in the West African economic and monetary union (English)

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 it increases in "good times" and appears to have become pro-cyclical since the introduction of the fiscal convergence criteria in 1994. The pro-cyclicality...

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Author

Dessus,Sebastien C.;

Diaz Sanchez,Jose Luis;

Varoudakis,Aristomene;
Document Date
2013/08/01
Report Number
WPS6562
Volume No
1
Total Volume(s)
1
Country
Western Africa,
Disclosure Date
2013/08/01
Disclosure Status
Disclosed
Doc Name
Fiscal rules and the pro-cyclicality of public investment in the West African economic and monetary union
Keywords
fiscal rule

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Citation

Dessus,Sebastien C.; Diaz Sanchez,Jose Luis; Varoudakis,Aristomene.

Fiscal rules and the pro-cyclicality of public investment in the West African economic and monetary union (English). Policy Research working paper ; no. WPS 6562 Washington, DC : World Bank Group. http://documents.worldbank.org/curated/en/222441468166178376

Fiscal rules and the pro-cyclicality of public investment in the West African economic and monetary union (English)

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