Réformes financières et formation des taux d’intérêt en Afrique Centrale : une approche à travers le modèle DSGE
We focus on current or future financials reforms impacts on the formation of interest rates in Central Africa. These reforms aim to restore the efficient operation of the interest rate channel and to revitalize credit channels and asset prices through the development of the financial system and the...
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| Format: | Article |
| Language: | English |
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Association d'Economie Politique
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| Series: | Revue Interventions Économiques |
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| Online Access: | https://journals.openedition.org/interventionseconomiques/5171 |
| _version_ | 1797306249880010752 |
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| author | Thierry Mvondo |
| author_facet | Thierry Mvondo |
| author_sort | Thierry Mvondo |
| collection | DOAJ |
| description | We focus on current or future financials reforms impacts on the formation of interest rates in Central Africa. These reforms aim to restore the efficient operation of the interest rate channel and to revitalize credit channels and asset prices through the development of the financial system and the abandonment of the principle of double intervention by the central bank. For this purpose, we have built a CEMAC DSGE model with a financial accelerator phenomenon on the credit demand side and a collateral constraint on the supply side. The simulations carried out on the intensification of the financial inclusion of firms and households, the collateral reform and the quality of information show an improvement of: (i) banking relay of monetary impulses on the interbank market; (ii) the central bank's reaction to different shocks and; (iii) the response of costs and returns of financial assets to these shocks. However, the disconnection of the variables from the real sphere to the monetary impulses ultimately raises the need for a financial education strategy, beyond the problem of the fragmentation of the money market that needs to be addressed. |
| first_indexed | 2024-03-08T00:39:14Z |
| format | Article |
| id | doaj.art-528050375b714bb3adf2495f3bf4207a |
| institution | Directory Open Access Journal |
| issn | 0715-3570 1710-7377 |
| language | English |
| last_indexed | 2024-03-08T00:39:14Z |
| publisher | Association d'Economie Politique |
| record_format | Article |
| series | Revue Interventions Économiques |
| spelling | doaj.art-528050375b714bb3adf2495f3bf4207a2024-02-15T12:53:38ZengAssociation d'Economie PolitiqueRevue Interventions Économiques0715-35701710-73776110.4000/interventionseconomiques.5171Réformes financières et formation des taux d’intérêt en Afrique Centrale : une approche à travers le modèle DSGEThierry MvondoWe focus on current or future financials reforms impacts on the formation of interest rates in Central Africa. These reforms aim to restore the efficient operation of the interest rate channel and to revitalize credit channels and asset prices through the development of the financial system and the abandonment of the principle of double intervention by the central bank. For this purpose, we have built a CEMAC DSGE model with a financial accelerator phenomenon on the credit demand side and a collateral constraint on the supply side. The simulations carried out on the intensification of the financial inclusion of firms and households, the collateral reform and the quality of information show an improvement of: (i) banking relay of monetary impulses on the interbank market; (ii) the central bank's reaction to different shocks and; (iii) the response of costs and returns of financial assets to these shocks. However, the disconnection of the variables from the real sphere to the monetary impulses ultimately raises the need for a financial education strategy, beyond the problem of the fragmentation of the money market that needs to be addressed.https://journals.openedition.org/interventionseconomiques/5171financial inclusioncollateral reformimproved informationmonetary hocks |
| spellingShingle | Thierry Mvondo Réformes financières et formation des taux d’intérêt en Afrique Centrale : une approche à travers le modèle DSGE Revue Interventions Économiques financial inclusion collateral reform improved information monetary hocks |
| title | Réformes financières et formation des taux d’intérêt en Afrique Centrale : une approche à travers le modèle DSGE |
| title_full | Réformes financières et formation des taux d’intérêt en Afrique Centrale : une approche à travers le modèle DSGE |
| title_fullStr | Réformes financières et formation des taux d’intérêt en Afrique Centrale : une approche à travers le modèle DSGE |
| title_full_unstemmed | Réformes financières et formation des taux d’intérêt en Afrique Centrale : une approche à travers le modèle DSGE |
| title_short | Réformes financières et formation des taux d’intérêt en Afrique Centrale : une approche à travers le modèle DSGE |
| title_sort | reformes financieres et formation des taux d interet en afrique centrale une approche a travers le modele dsge |
| topic | financial inclusion collateral reform improved information monetary hocks |
| url | https://journals.openedition.org/interventionseconomiques/5171 |
| work_keys_str_mv | AT thierrymvondo reformesfinancieresetformationdestauxdinteretenafriquecentraleuneapprocheatraverslemodeledsge |