The search for financial stability remains a priority in every country today, mainly because of high costs\r\nincurred by financial crises and induced effects of financial stability on economic growth. The\r\neconomies of the West African Economic and Monetary Union (WAEMU) countries are characterized by\r\na strong dependence on the outside, especially with regard to the value of their currency, the CFA\r\nfranc, and thus the variability of their exports but also the terms of trade. This study is conducted using\r\nan equation of financial instability with panel data. We used simple moving averages to measure the\r\nvolatility for the different variables. The results show that the main predictors of financial instability in\r\nthe WAEMU are: distributed credit, inflation and the rate of export growth. The study shows the need for\r\ndiversification of production in the area and effective supervision of the banking system to better cope\r\nwith shocks from internal and external, and financial stability.
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