Cette étude examine le rôle de la qualité institutionnelle dans la relation entre l'investissement public et l'investissement privé au sein d'un échantillon de 37 pays de l'Afrique Subsaharienne sur la période 2002-2018 en utilisant un modèle à effets de seuils à transition brute. Les résultats indiquent que la qualité institutionnelle mesurée par la stabilité politique, l'Etat de droit, et le poids de la règlementation affecte la relation entre l'investissement public et l'investissement privé. Particulièrement, l'effet de complémentarité de l'investissement public se fait ressentir lorsque le score de la stabilité politique est supérieur à 71,9 points sur une échelle de 100, un score de 50,5 et 50,6 points respectivement pour l'Etat de droit et le poids de la règlementation. Ces résultats suggèrent que toute mesure de promotion des investissements privés via les investissements publics au sein de l'échantillon devra prendre en compte le niveau de la stabilité politique, de l'Etat de droit puis du poids de la règlementation dans ces pays.

Purpose This paper aims to examine the response of monetary policy to financial instability in the West African Economic and Monetary Union.Design/methodology/approach Through annual aggregated data from 1970 to 2019, the empirical strategy is based on the Markov regime-switching model with fixed probabilities.Findings The results revealed that the monetary policy of the central bank of the West African Economic and Monetary Union is characterized by two regimes (calm and distress) with respect to the trend of financial stability. The authors also found that the occurrence of the calm regime was likely greater than that of the distress regime. In addition, the calm regime is longer than the distress regime. The authors finally revealed that the central bank reacts to financial instability risk by increasing its short-term interest rate when financial instability reaches a threshold.Research limitations/implications The limitation of this study is the unavailability of monthly or quarterly data that are more suitable for the methodological approach adopted.Originality/value This study is the one to estimate the response of the Central Bank of West African Countries to financial stress using a novel approach based on the Markov-Switching regression.

This study investigates whether and how tax digitalisation reforms operated in sub-Saharan African countries generate more tax revenues. To this end, we performed a systematic literature review based on case-country studies. Our conceptual model shows that new business creation, tax morale, tax compliance, efficiency in tax collection and e-governance are channels through which the digital economy affects the mobilisation of tax revenues. We also found that tax digitalisation significantly improved tax revenues in the sample. However, our findings reveal a scarcity of evidence on the nexus of digitalisation and tax revenues. Further research is needed to fill this gap. JEL Code: M15, E62, O55.

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