La convergence économique en zone UEMOA: une analyse empirique du critère budgétaire

This paper presents an empirical assessment of the core convergence criteria in West African Economic and Monetary Union (WAEMU) in the period 1986-2006. We use empirical rules based on the previous work of Ballabriga-Mongay and Martinez (2002). As results, in WAEMU, the fiscal policies seem to have been discretionary, with a relatively low level of automatic stabilizers. Also, it seems that in face of an external debt shock, the fiscal adjustments have been conducted through current public expenditures while in case of a production shock, the adjustment variable has been the total government revenue.