Effets De La Regulation Et Du Developpement Institutionnel Sur Le Secteur Bancaire De La Cemac

Abstract

The objective of this study is to assess the impact of the regulation (of requirements in equity capital) and of the institutional development on some performances of the ''CEMAC'' banking sector. The secondary data used come from the publications of the World Bank (World Bank Development Indicators) and from the services of ''BEAC'' and ''COBAC''. The method of estimation is that of the Generalized Moment Method (GMM) in dynamic panel via the model of Arellano and Bond (1991). The study spans a period of 8 years (2005)(2006)(2007)(2008)(2009)(2010)(2011)(2012) and takes into account the six countries of the CEMAC subregion. The results of the study are presented as follows: (1) the level of the prescribed equity capital does not affect neither the "banking development" nor the "capacity of mobilization of the domestic saving" and just as the "economies financing capacity". (2) The level of legal and institutional development influences negatively and significantly the "banking development" and the "volume of domestic saving". (3) Also, the level of legal and institutional development influences positively and significantly the "capacity of the banking sector to finance the economies". These results lead therefore to some implications of economic policy such as: the public authorities should reinforce the financing capacity of the "CEMAC" economies in setting up a real financial market. They should also develop and in a significant way political and institutional infrastructures in order to stimulate the confidence of savers and investors.