Effects of Corruption and the Black Economy on Economic Growth in the CFA Franc Zone Countries

We conducted this study to empirically analyse the effects of corruption and the underground economy on economic growth in the case of the CFA franc zone countries over the period 2000-2016. To do so, we have carried out econometric estimations using panel data. Our empirical results obtained by the PMG (Pooled Mean Group) method confirm a negative relationship between economic growth and the underground economy in the short and long term. However, the long-run effect of corruption on economic growth is positive, while this effect becomes negative in the short run. The results could provide insight into different ways of fighting corruption and the shadow economy.

Macron's Africa outreach will need time to bear fruit

Significance He continued with a trip to South Africa on May 28 and had earlier in May hosted a summit for African heads of state. Macron has sought to broaden French engagement beyond the traditional partnerships with former colonies. Impacts Paris sees President Paul Kagame as an influential African player in security sector and institutional reform. Paris will support the creation of Sub-Saharan African capacity to manufacture COVID-19 vaccines. Difficult issues remain to be fully tackled: reform of the CFA franc currency, visa liberalisation and migration.