Role of Financial Stability in Synchronising Real and Financial Cycle in CEMAC

α
Mbanga Pagal Emmanuelle Dorcas
Mbanga Pagal Emmanuelle Dorcas
σ
Enguene Andre Arnaud
Enguene Andre Arnaud
ρ
Ndongo Eyinga Rene Basin
Ndongo Eyinga Rene Basin
α Université de Yaoundé II

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Role of Financial Stability in Synchronising Real and Financial Cycle in CEMAC

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Abstract

The issue of synchronisation of economic cycle face the difficulty of framing factors that affect the different phases of the cycle. This paper aim to highlight the role plays by financial stability in the synchronisation of financial and real cycles. The analysis is carried out by, measuring the impact of financial stability on the synchronisation of the different components of real and financial cycles. Using panel VAR models, impulse response functions based on Monte Carlo simulations were exploited to measure these effects. Data from the BEAC and COBAC databases for all CEMAC countries has covered the period 2000Q1-2020Q4. The results obtained from empirical analyses confirm the fact that financial stability plays an important role by synchronising the various factors associated to each cycles, real cycle and the financial cycle. The analysis of the impulse response functions has showed that, the financial stability index has a positive impact on the synchronisation of the financial and real cycles in the long run term.

References

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Mbanga Pagal Emmanuelle Dorcas. 2026. \u201cRole of Financial Stability in Synchronising Real and Financial Cycle in CEMAC\u201d. Global Journal of Human-Social Science - E: Economics GJHSS-E Volume 22 (GJHSS Volume 22 Issue E3): .

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Financial stability, cycle synchronization, payment flow, monetary policy, economic research.
Issue Cover
GJHSS Volume 22 Issue E3
Pg. 37- 52
Journal Specifications

Crossref Journal DOI 10.17406/GJHSS

Print ISSN 0975-587X

e-ISSN 2249-460X

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GJHSS-E Classification: E32, E47, E58
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v1.2

Issue date

April 28, 2022

Language
fr
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The issue of synchronisation of economic cycle face the difficulty of framing factors that affect the different phases of the cycle. This paper aim to highlight the role plays by financial stability in the synchronisation of financial and real cycles. The analysis is carried out by, measuring the impact of financial stability on the synchronisation of the different components of real and financial cycles. Using panel VAR models, impulse response functions based on Monte Carlo simulations were exploited to measure these effects. Data from the BEAC and COBAC databases for all CEMAC countries has covered the period 2000Q1-2020Q4. The results obtained from empirical analyses confirm the fact that financial stability plays an important role by synchronising the various factors associated to each cycles, real cycle and the financial cycle. The analysis of the impulse response functions has showed that, the financial stability index has a positive impact on the synchronisation of the financial and real cycles in the long run term.

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Role of Financial Stability in Synchronising Real and Financial Cycle in CEMAC

Mbanga Pagal Emmanuelle Dorcas
Mbanga Pagal Emmanuelle Dorcas Université de Yaoundé II
Enguene Andre Arnaud
Enguene Andre Arnaud
Ndongo Eyinga Rene Basin
Ndongo Eyinga Rene Basin

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