This paper aims to determine the impact of the deficit of budget balance on private investment in... more This paper aims to determine the impact of the deficit of budget balance on private investment in CEMAC over the period 1984-2019. To this end, the PMG model and the regime-switching model were mobilized to check the linear or non-linear relationship that may exist between the variables involved. At the end of the PMG estimate, it appears that the negative and significant effects of the deficit of budget balance on private investment are not isolated, but depend heavily on its interaction with long-term domestic public debt. Given the non-linear nature of the relationship between deficit of budget balance and private investment, using Hansen's (1999) regime-switching model revealed that there are thresholds for which deficit of budget balance has positive and significant effects on private investment in each CEMAC country. By ricochet, maintaining a sustainable level, the private sector would become the real incubator of the development process in the states.
The main goal of the paper is to shed light on economic allocations issues, in particular by focu... more The main goal of the paper is to shed light on economic allocations issues, in particular by focusing on individuals who receive nothing (that is an amount of zero allocation or payoff). It is worth noting that such individuals may be considered, in some contexts, as poor or socially excluded. To this end, our study relies on the notion of cooperative games with transferable utility and the Linear Efficient and Symmetric values (called LES values) are considered as allocation rules. Null players in Shapley sense are extensively studied ; two broader classes of null players are introduced. The analysis is facilitated by the help of a parametric representation of LES values. It is clearly shown that the control of what a LES value assigns as payoffs to null players gives significant information about the characterization of the value. Several axiomatic characterizations of subclasses of LES values are provided using our approach.
We introduce for any TU-game, a new TU-game referred as its associated solidarity game (ASG). The... more We introduce for any TU-game, a new TU-game referred as its associated solidarity game (ASG). The ASG gives more power to the grand coalition by reducing the payoffs of others coalitions. It comes that, the Shapley value of the ASG is the Solidarity value of the initial game.
This paper revisits the resource curse hypothesis by examining the nexus between crude oil price ... more This paper revisits the resource curse hypothesis by examining the nexus between crude oil price and economic growth for a panel of 32 Sub-Saharan Africa countries from 1980 to 2017. Employing the panel vector autoregression (VAR) estimation technique, we found evidence of a significant positive effect of crude oil price on economic growth both in the short run and long run. However, after splitting the panel into net oil exporters and importers, the results for net oil importers remain consistent with those obtained for the whole panel, unlike those for net oil exporters revealing a positive and negative effect of crude oil price on economic growth in the short-run and long-run periods, respectively. This confirms the resource curse hypothesis for oil-exporting countries under consideration. Moreover, we found evidence of bidirectional causality between crude oil price and real GDP. Consequently, to boost economic growth in Sub-Saharan Africa, various governments should encourage economic diversification, increase investments in human capital in view of enhancing the development of the oil sector by ensuring an efficient management of oil revenues, as well as intensifying the fight against corruption.
This paper studies multi-dimensional aspects of deprivation associated to the living conditions a... more This paper studies multi-dimensional aspects of deprivation associated to the living conditions and inequality status in Cameroon. The study employs the fuzzy-set framework to analyze deprivation and inequalities through Dagum sub group decomposition. Results in deprivation analysis and inequalities related reveal some new insights about the poverty situation in the country, which contrasts with the results available from traditional poverty analysis. We observe respectively, high deprivation degrees for household "essential" items such as health, education and housing and a small Gini index for inequalities of deprivation. Decomposition by group reveals that within groups inequalities are as important as the between groups.
This paper sets to establish a transmission mechanism linking globalization, institutional setups... more This paper sets to establish a transmission mechanism linking globalization, institutional setups, asset endowments and poverty reduction outcomes in Africa within the context of the current financial crisis. Identifying different sub channel circuits as well as the complex and indirect linkage observed between globalization and poverty, we note diver’s impact of the various factors on welfare enhancement and poverty reduction.
International Journal of Economics and Finance, 2012
The objective of this study is to explain the evolution of inequality of consumption expenditures... more The objective of this study is to explain the evolution of inequality of consumption expenditures of households in Cameroon over the period 1996-2007. To achieve this, we use the Shapley-Shorrocks decomposition of inequality by subgroups and by sources of income / expenses. The application of this method to data from Cameroon shows that expenditure on food and housing explains inequality by sources, while the expenditure distribution is much more unequal in households' headed by a man in urban area and slice aged between 31 and 50 regarding the decomposition subgroup.
Les déterminants du niveau et de l'inégalité de la pauvreté au Cameroun : Une analyse de décompos... more Les déterminants du niveau et de l'inégalité de la pauvreté au Cameroun : Une analyse de décomposition multidimensionnelle Célestin CHAMENI NEMBUA 1 Et Clovis MIAMO WENDJI 2 Résumé L'adoption du cadre théorique de l'approche des capabilités de SEN qui présente la pauvreté comme la privation de fonctionnements élémentaires en terme de logement, santé, emploi, loisir, relations sociales et ressources économiques, associée à la théorie des ensembles flous (CERIOLI et ZANI [1990]) et à la décomposition d'inégalités par les sources (SHAPLEY-SHORROCKS [1999]), nous permet d'analyser les privations en termes d'inégalités de pauvreté au Cameroun. Les résultats de notre étude révèlent que, les capabiltés humaines (instruction, logement) et les capabilités économiques (emploi, autre confort) expliquent aussi bien le niveau élevé de la pauvreté totale que celui des inégalités de la pauvreté. Ces résultats laissent présager une forte vulnérabilité de certaines catégories de ménages face à la pauvreté.
The aim of this article is to present a new tool for assessing TU-game based on a matrix represen... more The aim of this article is to present a new tool for assessing TU-game based on a matrix representation. We focus on TU-games with coalition structures and provide a general matrix form of TU-game. We shed light on some useful properties of the matrix representation of TU-game and the general form obtained is applied to describe the representation for some classical TU-game. The facilities provided by such a representation are used to characterize subclasses of Linear Efficient and Symmetric (LES) values.
This paper aims to determine the impact of the deficit of budget balance on private investment in... more This paper aims to determine the impact of the deficit of budget balance on private investment in CEMAC over the period 1984-2019. To this end, the PMG model and the regime-switching model were mobilized to check the linear or non-linear relationship that may exist between the variables involved. At the end of the PMG estimate, it appears that the negative and significant effects of the deficit of budget balance on private investment are not isolated, but depend heavily on its interaction with long-term domestic public debt. Given the non-linear nature of the relationship between deficit of budget balance and private investment, using Hansen's (1999) regime-switching model revealed that there are thresholds for which deficit of budget balance has positive and significant effects on private investment in each CEMAC country. By ricochet, maintaining a sustainable level, the private sector would become the real incubator of the development process in the states.
The main goal of the paper is to shed light on economic allocations issues, in particular by focu... more The main goal of the paper is to shed light on economic allocations issues, in particular by focusing on individuals who receive nothing (that is an amount of zero allocation or payoff). It is worth noting that such individuals may be considered, in some contexts, as poor or socially excluded. To this end, our study relies on the notion of cooperative games with transferable utility and the Linear Efficient and Symmetric values (called LES values) are considered as allocation rules. Null players in Shapley sense are extensively studied ; two broader classes of null players are introduced. The analysis is facilitated by the help of a parametric representation of LES values. It is clearly shown that the control of what a LES value assigns as payoffs to null players gives significant information about the characterization of the value. Several axiomatic characterizations of subclasses of LES values are provided using our approach.
We introduce for any TU-game, a new TU-game referred as its associated solidarity game (ASG). The... more We introduce for any TU-game, a new TU-game referred as its associated solidarity game (ASG). The ASG gives more power to the grand coalition by reducing the payoffs of others coalitions. It comes that, the Shapley value of the ASG is the Solidarity value of the initial game.
This paper revisits the resource curse hypothesis by examining the nexus between crude oil price ... more This paper revisits the resource curse hypothesis by examining the nexus between crude oil price and economic growth for a panel of 32 Sub-Saharan Africa countries from 1980 to 2017. Employing the panel vector autoregression (VAR) estimation technique, we found evidence of a significant positive effect of crude oil price on economic growth both in the short run and long run. However, after splitting the panel into net oil exporters and importers, the results for net oil importers remain consistent with those obtained for the whole panel, unlike those for net oil exporters revealing a positive and negative effect of crude oil price on economic growth in the short-run and long-run periods, respectively. This confirms the resource curse hypothesis for oil-exporting countries under consideration. Moreover, we found evidence of bidirectional causality between crude oil price and real GDP. Consequently, to boost economic growth in Sub-Saharan Africa, various governments should encourage economic diversification, increase investments in human capital in view of enhancing the development of the oil sector by ensuring an efficient management of oil revenues, as well as intensifying the fight against corruption.
This paper studies multi-dimensional aspects of deprivation associated to the living conditions a... more This paper studies multi-dimensional aspects of deprivation associated to the living conditions and inequality status in Cameroon. The study employs the fuzzy-set framework to analyze deprivation and inequalities through Dagum sub group decomposition. Results in deprivation analysis and inequalities related reveal some new insights about the poverty situation in the country, which contrasts with the results available from traditional poverty analysis. We observe respectively, high deprivation degrees for household "essential" items such as health, education and housing and a small Gini index for inequalities of deprivation. Decomposition by group reveals that within groups inequalities are as important as the between groups.
This paper sets to establish a transmission mechanism linking globalization, institutional setups... more This paper sets to establish a transmission mechanism linking globalization, institutional setups, asset endowments and poverty reduction outcomes in Africa within the context of the current financial crisis. Identifying different sub channel circuits as well as the complex and indirect linkage observed between globalization and poverty, we note diver’s impact of the various factors on welfare enhancement and poverty reduction.
International Journal of Economics and Finance, 2012
The objective of this study is to explain the evolution of inequality of consumption expenditures... more The objective of this study is to explain the evolution of inequality of consumption expenditures of households in Cameroon over the period 1996-2007. To achieve this, we use the Shapley-Shorrocks decomposition of inequality by subgroups and by sources of income / expenses. The application of this method to data from Cameroon shows that expenditure on food and housing explains inequality by sources, while the expenditure distribution is much more unequal in households' headed by a man in urban area and slice aged between 31 and 50 regarding the decomposition subgroup.
Les déterminants du niveau et de l'inégalité de la pauvreté au Cameroun : Une analyse de décompos... more Les déterminants du niveau et de l'inégalité de la pauvreté au Cameroun : Une analyse de décomposition multidimensionnelle Célestin CHAMENI NEMBUA 1 Et Clovis MIAMO WENDJI 2 Résumé L'adoption du cadre théorique de l'approche des capabilités de SEN qui présente la pauvreté comme la privation de fonctionnements élémentaires en terme de logement, santé, emploi, loisir, relations sociales et ressources économiques, associée à la théorie des ensembles flous (CERIOLI et ZANI [1990]) et à la décomposition d'inégalités par les sources (SHAPLEY-SHORROCKS [1999]), nous permet d'analyser les privations en termes d'inégalités de pauvreté au Cameroun. Les résultats de notre étude révèlent que, les capabiltés humaines (instruction, logement) et les capabilités économiques (emploi, autre confort) expliquent aussi bien le niveau élevé de la pauvreté totale que celui des inégalités de la pauvreté. Ces résultats laissent présager une forte vulnérabilité de certaines catégories de ménages face à la pauvreté.
The aim of this article is to present a new tool for assessing TU-game based on a matrix represen... more The aim of this article is to present a new tool for assessing TU-game based on a matrix representation. We focus on TU-games with coalition structures and provide a general matrix form of TU-game. We shed light on some useful properties of the matrix representation of TU-game and the general form obtained is applied to describe the representation for some classical TU-game. The facilities provided by such a representation are used to characterize subclasses of Linear Efficient and Symmetric (LES) values.
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