International journal of business and management, Feb 26, 2013
Banks in developing countries are too much liquidity, result of the poor sectoral allocation of r... more Banks in developing countries are too much liquidity, result of the poor sectoral allocation of resources, caused by their inefficiency in the production of information and in the management of risk. The economies of developing countries are, also, in a context of financial repression where the rates are capped at low levels paying evil savings and do not favor the formation of capital. The great importance of liquidity at the strict sense M1 in the monetary mass (80% according to Goldsmith, 1969) in the economies of developing countries and the lack of substitutability between physical capital and financial capital established by McKinnon (1973) brings him to advocate for these economies the principle of money as a relay to capital. The alternative posed by Islamic banks, effective in the production of information (Alim B., 2011) and in the risk management (Khan M., 1986; Alim B., 2011) favorable to a better sectoral policy, faced to a peculiar asymmetric risk upstream of the financing operation. The purpose of the study is to show that this risk, mainly financial, has such effect to reduce or even eliminate the utility of depositors and may constitute a barrier to the principle of money as a relay to capital. If Islamic banking is recommendable because adapted to the financing of emerging economies, it should be defined for this system the management mechanisms of this type of risk with evident impact.
International journal of business and management, Oct 23, 2012
The income elasticity of food expenditures versus income elasticity of calories intake controvers... more The income elasticity of food expenditures versus income elasticity of calories intake controversy marked all the literatures of the 1980 and 1990 decennaries at the subject of fight against foods insecurity. Food insecurity phenomena are recurrent in northern Cameroon. Public policies for ameliorating the level of nutrition of undernourished and vulnerable households consisted to distribution cereals. Without any theoretical and empirical basis, all redistribution policies are budgetary costly and can generate unwished or negative effects and be with limited impact. The aim of this study is to situate the Cameroonian specificities in the income elasticity controversy and to propose the optimal canal of transmission of policies effects. The utilization of raw data of ECAM96 in a retrospective study place income elasticity of food expenditures at the interval [0.21, 1.54] and income elasticity of calories intake in [0.39, 0.59] for households. The income elasticity of food expenditures channel is optimal. The increase of real income however have to be oriented on food prices for exclusive consumption of target households for to channel policy effects and to avoid negative effects on social sectors (health, education).
Purpose-Does MFIs agricultural credit influence the determinants of the efficiency of SFF which a... more Purpose-Does MFIs agricultural credit influence the determinants of the efficiency of SFF which are socioeconomic factors of the farmers but also agricultural endowments of family farms? This paper aims to study the contribution of MFI services on improving the technical efficiency of SFFs in Cameroon. Design/methodology/approach-The stochastic frontier analysis (SFA) model permits the estimation of the technical efficiency indicators for beneficiaries and nonbeneficiaries of agricultural credits on a sample of 130 cocoa farming households and four MFIs of the same area between 2008 and 2011. The censored tobit model is used to assess the determinants of technical efficiency. Findings-The results show that the SFF beneficiaries of agricultural credit have an average technical efficiency of 0.68 inferior to that of nonbeneficiaries (0.72) as expected. They are, respectively, at 0.32 and 0.28 of their full productive capacities. The results of the censored Tobit model show that socioeconomic characteristics of the producer such as age and gender explain negatively, while experience explains positively the technical efficiency of SFFs. Research limitations/implications-Although without any selectivity bias, this study indicates the essential character of the socioeconomic factors in the amplification of the role of the MFIs credit on the efficiency of SFFs. Practical implications-Strategies to improve the efficiency of SFFs require an increase in MFI credits, primarily targeting young, experienced and female farmers. Originality/value-This study examines the efficiency of SFFs by highlighting the interaction between the socioeconomic factors of farmers and the credit of MFIs. It also points to the problem of monitoring the implementation of agricultural financing.
Background Healthcare is a serious issue confronting governments and households and calling for r... more Background Healthcare is a serious issue confronting governments and households and calling for repeated deliberations in international forums. Ensuring good health for all was the predominant call of the millennium development goals (MDGs), reechoed again in the sustainable development goals (SDGs). The first objective of this study is to evaluate and compare the impact of public and private health spending on life expectancy, and the second objective is to examine the causal link among public health expenditure, private health expenditure and life expectancy in Cameroon. Methods We used annual time series data from 1980 to 2014. Ordinary least squares (OLS) regression was employed to evaluate the effect of public and private health expenditure on life expectancy while the Toda and Yamamoto causality test was used to examine the relationship among public health expenditure, private health expenditure and life expectancy in Cameroon. Results The result shows that private health expenditure has a positive and significant impact on life expectancy while public health expenditure has no significant impact on life expectancy in Cameroon. The results of the causality test show a bidirectional causality between private health expenditure and life expectancy and a unidirectional causality running from life expectancy to public health expenditure. Conclusions The findings of this study suggest that the Cameroonian government should continue to embark on its poverty reduction strategy elaborated in its Growth and Employment Strategy Paper (GESP) and in pursuing its vision of attaining the SDGs by 2030. In addition, establishing effective public-private partnerships in developing the health sector could go a long way to improve the health status of the population. Keywords Public and private health spending. Life expectancy. Time series data. OLS regression. Toda and Yamamoto causality test
Islamic banking system is a great alternative for the financing of African economies characterize... more Islamic banking system is a great alternative for the financing of African economies characterized by the presence of spreads. This study try to show that the violation of the ethics and moral values on which the Islamic banking rests, is source of a specific kind of risk, and can lead to bank runs. Using the model of the Islamic credit market specified by Alim B.(2011), and simulations that use subjective variables of the utility function of the depositor, we show that these subjective factors, difficult to grasp, exert immediate effects and at higher propagation speed on the opinion of depositors acquired at Islamic values intermediation. These subjective values are the main factors that lead to the withdrawal of deposits and hence, to the Islamic bank runs. It follows that the risk of principle, rather than the risk of default as was shown Diamond and Dybvig(1983), is the main determinant of Islamic bank runs.
Journal of Agribusiness in Developing and Emerging Economies, 2020
PurposeThis study aims to assess the effects of microfinance institution (MFI) services on the pr... more PurposeThis study aims to assess the effects of microfinance institution (MFI) services on the productivity of family farms in Cameroon, in the region of Mbam and Kim. It will be a question, therefore, of determining the level and determiners of the outputs of family farms, in particular those concerned by the cultures of cocoa, beneficiaries of the agricultural services of MFIs.Design/methodology/approachThe authors use the Blinder (1973) and Oaxaca (1973) model of decomposition of the productivity differential between beneficiaries and non-beneficiaries of agricultural credits on a sample of 130 cocoa farming households and four MFIs of the same area between 2008 and 2011.FindingsThe yield gap between beneficiaries and non-beneficiaries of agricultural credits is estimated at 0.19 tons per hectare. This gap is explained positively by the financial aid variable, the farm size variable, which is significant in the explanation of the beneficiaries' level of returns and the consta...
PurposeDoes MFIs agricultural credit influence the determinants of the efficiency of SFF which ar... more PurposeDoes MFIs agricultural credit influence the determinants of the efficiency of SFF which are socio-economic factors of the farmers but also agricultural endowments of family farms? This paper aims to study the contribution of MFI services on improving the technical efficiency of SFFs in Cameroon.Design/methodology/approachThe stochastic frontier analysis (SFA) model permits the estimation of the technical efficiency indicators for beneficiaries and nonbeneficiaries of agricultural credits on a sample of 130 cocoa farming households and four MFIs of the same area between 2008 and 2011. The censored tobit model is used to assess the determinants of technical efficiency.FindingsThe results show that the SFF beneficiaries of agricultural credit have an average technical efficiency of 0.68 inferior to that of nonbeneficiaries (0.72) as expected. They are, respectively, at 0.32 and 0.28 of their full productive capacities. The results of the censored Tobit model show that socioecono...
Le rationnement de crédit par les taux d'intérêt constitue l'une des techniques de gestion des ri... more Le rationnement de crédit par les taux d'intérêt constitue l'une des techniques de gestion des risques en relation avec les asymétries d'information précontractuelles. Ce mécanisme, lorsqu'il est pratiqué par les banques conventionnelles, conduit le marché de crédit à des équilibres sous-optimaux générant de la sélection adverse (Stiglitz & Weiss, 1981). En effet, le rationnement de crédit par le taux d'intérêt aboutit à l'éviction des firmes les moins risquées et induit par conséquent l'augmentation du risque moyen du marché du crédit, la diminution de la rentabilité des banques et une réduction de production réelle. L'objectif de cet article est d'analyser la pratique du mécanisme de rationnement de crédit par les banques islamiques. Contrairement au cas des banques conventionnelles. Cette pratique permettrait aux banques islamiques de réduire les asymétries d'information précontractuelles et de relever le niveau de rentabilité du secteur bancaire.
International Journal of Business and Management, 2012
The income elasticity of food expenditures versus income elasticity of calories intake controvers... more The income elasticity of food expenditures versus income elasticity of calories intake controversy marked all the literatures of the 1980 and 1990 decennaries at the subject of fight against foods insecurity. Food insecurity phenomena are recurrent in northern Cameroon. Public policies for ameliorating the level of nutrition of undernourished and vulnerable households consisted to distribution cereals. Without any theoretical and empirical basis, all redistribution policies are budgetary costly and can generate unwished or negative effects and be with limited impact. The aim of this study is to situate the Cameroonian specificities in the income elasticity controversy and to propose the optimal canal of transmission of policies effects. The utilization of raw data of ECAM96 in a retrospective study place income elasticity of food expenditures at the interval [0.21, 1.54] and income elasticity of calories intake in [0.39, 0.59] for households. The income elasticity of food expenditures channel is optimal. The increase of real income however have to be oriented on food prices for exclusive consumption of target households for to channel policy effects and to avoid negative effects on social sectors (health, education).
International Journal of Business and Management, 2013
Banks in developing countries are too much liquidity, result of the poor sectoral allocation of r... more Banks in developing countries are too much liquidity, result of the poor sectoral allocation of resources, caused by their inefficiency in the production of information and in the management of risk. The economies of developing countries are, also, in a context of financial repression where the rates are capped at low levels paying evil savings and do not favor the formation of capital. The great importance of liquidity at the strict sense M1 in the monetary mass (80% according to Goldsmith, 1969) in the economies of developing countries and the lack of substitutability between physical capital and financial capital established by McKinnon (1973) brings him to advocate for these economies the principle of money as a relay to capital. The alternative posed by Islamic banks, effective in the production of information (Alim B., 2011) and in the risk management (Khan M., 1986; Alim B., 2011) favorable to a better sectoral policy, faced to a peculiar asymmetric risk upstream of the financing operation. The purpose of the study is to show that this risk, mainly financial, has such effect to reduce or even eliminate the utility of depositors and may constitute a barrier to the principle of money as a relay to capital. If Islamic banking is recommendable because adapted to the financing of emerging economies, it should be defined for this system the management mechanisms of this type of risk with evident impact.
Economic resilience under COVID-19 in the CEMAC zone: Are procyclical adjustments of capital requ... more Economic resilience under COVID-19 in the CEMAC zone: Are procyclical adjustments of capital requirements necessary? By Alim BELEK 1a Djimoudjiel DJEKONBE b † & Anatole Toinar MOGOTA c Abstract. This paper analyzes the effects of procyclical regulatory capital adjustments on the ability of CEMAC economies to recover from the COVID-19. To achieve the objective, it uses quarterly data from 2005 to 2020 and Generalized Least Squares estimators as a technique. The results obtained show that the severity of the COVID-19 significantly impacted the economies of the sub-region and their ability to be resilient. Further, the results are robust regardless of the economic resilience indicator considered. Pro-cyclical capital adjustments in the pandemic context have a positive impact on resilience, thereby reducing exposure to economic vulnerabilities. It is advisable to promote countercyclical adjustments of regulatory capital to improve economic resilience. This is regardless the fact that under COVID-19, economic contractions may induce banks to adopt more pro-cyclical behavior in order to reduce the vulnerability of economies.
International journal of business and management, Feb 26, 2013
Banks in developing countries are too much liquidity, result of the poor sectoral allocation of r... more Banks in developing countries are too much liquidity, result of the poor sectoral allocation of resources, caused by their inefficiency in the production of information and in the management of risk. The economies of developing countries are, also, in a context of financial repression where the rates are capped at low levels paying evil savings and do not favor the formation of capital. The great importance of liquidity at the strict sense M1 in the monetary mass (80% according to Goldsmith, 1969) in the economies of developing countries and the lack of substitutability between physical capital and financial capital established by McKinnon (1973) brings him to advocate for these economies the principle of money as a relay to capital. The alternative posed by Islamic banks, effective in the production of information (Alim B., 2011) and in the risk management (Khan M., 1986; Alim B., 2011) favorable to a better sectoral policy, faced to a peculiar asymmetric risk upstream of the financing operation. The purpose of the study is to show that this risk, mainly financial, has such effect to reduce or even eliminate the utility of depositors and may constitute a barrier to the principle of money as a relay to capital. If Islamic banking is recommendable because adapted to the financing of emerging economies, it should be defined for this system the management mechanisms of this type of risk with evident impact.
International journal of business and management, Oct 23, 2012
The income elasticity of food expenditures versus income elasticity of calories intake controvers... more The income elasticity of food expenditures versus income elasticity of calories intake controversy marked all the literatures of the 1980 and 1990 decennaries at the subject of fight against foods insecurity. Food insecurity phenomena are recurrent in northern Cameroon. Public policies for ameliorating the level of nutrition of undernourished and vulnerable households consisted to distribution cereals. Without any theoretical and empirical basis, all redistribution policies are budgetary costly and can generate unwished or negative effects and be with limited impact. The aim of this study is to situate the Cameroonian specificities in the income elasticity controversy and to propose the optimal canal of transmission of policies effects. The utilization of raw data of ECAM96 in a retrospective study place income elasticity of food expenditures at the interval [0.21, 1.54] and income elasticity of calories intake in [0.39, 0.59] for households. The income elasticity of food expenditures channel is optimal. The increase of real income however have to be oriented on food prices for exclusive consumption of target households for to channel policy effects and to avoid negative effects on social sectors (health, education).
Purpose-Does MFIs agricultural credit influence the determinants of the efficiency of SFF which a... more Purpose-Does MFIs agricultural credit influence the determinants of the efficiency of SFF which are socioeconomic factors of the farmers but also agricultural endowments of family farms? This paper aims to study the contribution of MFI services on improving the technical efficiency of SFFs in Cameroon. Design/methodology/approach-The stochastic frontier analysis (SFA) model permits the estimation of the technical efficiency indicators for beneficiaries and nonbeneficiaries of agricultural credits on a sample of 130 cocoa farming households and four MFIs of the same area between 2008 and 2011. The censored tobit model is used to assess the determinants of technical efficiency. Findings-The results show that the SFF beneficiaries of agricultural credit have an average technical efficiency of 0.68 inferior to that of nonbeneficiaries (0.72) as expected. They are, respectively, at 0.32 and 0.28 of their full productive capacities. The results of the censored Tobit model show that socioeconomic characteristics of the producer such as age and gender explain negatively, while experience explains positively the technical efficiency of SFFs. Research limitations/implications-Although without any selectivity bias, this study indicates the essential character of the socioeconomic factors in the amplification of the role of the MFIs credit on the efficiency of SFFs. Practical implications-Strategies to improve the efficiency of SFFs require an increase in MFI credits, primarily targeting young, experienced and female farmers. Originality/value-This study examines the efficiency of SFFs by highlighting the interaction between the socioeconomic factors of farmers and the credit of MFIs. It also points to the problem of monitoring the implementation of agricultural financing.
Background Healthcare is a serious issue confronting governments and households and calling for r... more Background Healthcare is a serious issue confronting governments and households and calling for repeated deliberations in international forums. Ensuring good health for all was the predominant call of the millennium development goals (MDGs), reechoed again in the sustainable development goals (SDGs). The first objective of this study is to evaluate and compare the impact of public and private health spending on life expectancy, and the second objective is to examine the causal link among public health expenditure, private health expenditure and life expectancy in Cameroon. Methods We used annual time series data from 1980 to 2014. Ordinary least squares (OLS) regression was employed to evaluate the effect of public and private health expenditure on life expectancy while the Toda and Yamamoto causality test was used to examine the relationship among public health expenditure, private health expenditure and life expectancy in Cameroon. Results The result shows that private health expenditure has a positive and significant impact on life expectancy while public health expenditure has no significant impact on life expectancy in Cameroon. The results of the causality test show a bidirectional causality between private health expenditure and life expectancy and a unidirectional causality running from life expectancy to public health expenditure. Conclusions The findings of this study suggest that the Cameroonian government should continue to embark on its poverty reduction strategy elaborated in its Growth and Employment Strategy Paper (GESP) and in pursuing its vision of attaining the SDGs by 2030. In addition, establishing effective public-private partnerships in developing the health sector could go a long way to improve the health status of the population. Keywords Public and private health spending. Life expectancy. Time series data. OLS regression. Toda and Yamamoto causality test
Islamic banking system is a great alternative for the financing of African economies characterize... more Islamic banking system is a great alternative for the financing of African economies characterized by the presence of spreads. This study try to show that the violation of the ethics and moral values on which the Islamic banking rests, is source of a specific kind of risk, and can lead to bank runs. Using the model of the Islamic credit market specified by Alim B.(2011), and simulations that use subjective variables of the utility function of the depositor, we show that these subjective factors, difficult to grasp, exert immediate effects and at higher propagation speed on the opinion of depositors acquired at Islamic values intermediation. These subjective values are the main factors that lead to the withdrawal of deposits and hence, to the Islamic bank runs. It follows that the risk of principle, rather than the risk of default as was shown Diamond and Dybvig(1983), is the main determinant of Islamic bank runs.
Journal of Agribusiness in Developing and Emerging Economies, 2020
PurposeThis study aims to assess the effects of microfinance institution (MFI) services on the pr... more PurposeThis study aims to assess the effects of microfinance institution (MFI) services on the productivity of family farms in Cameroon, in the region of Mbam and Kim. It will be a question, therefore, of determining the level and determiners of the outputs of family farms, in particular those concerned by the cultures of cocoa, beneficiaries of the agricultural services of MFIs.Design/methodology/approachThe authors use the Blinder (1973) and Oaxaca (1973) model of decomposition of the productivity differential between beneficiaries and non-beneficiaries of agricultural credits on a sample of 130 cocoa farming households and four MFIs of the same area between 2008 and 2011.FindingsThe yield gap between beneficiaries and non-beneficiaries of agricultural credits is estimated at 0.19 tons per hectare. This gap is explained positively by the financial aid variable, the farm size variable, which is significant in the explanation of the beneficiaries' level of returns and the consta...
PurposeDoes MFIs agricultural credit influence the determinants of the efficiency of SFF which ar... more PurposeDoes MFIs agricultural credit influence the determinants of the efficiency of SFF which are socio-economic factors of the farmers but also agricultural endowments of family farms? This paper aims to study the contribution of MFI services on improving the technical efficiency of SFFs in Cameroon.Design/methodology/approachThe stochastic frontier analysis (SFA) model permits the estimation of the technical efficiency indicators for beneficiaries and nonbeneficiaries of agricultural credits on a sample of 130 cocoa farming households and four MFIs of the same area between 2008 and 2011. The censored tobit model is used to assess the determinants of technical efficiency.FindingsThe results show that the SFF beneficiaries of agricultural credit have an average technical efficiency of 0.68 inferior to that of nonbeneficiaries (0.72) as expected. They are, respectively, at 0.32 and 0.28 of their full productive capacities. The results of the censored Tobit model show that socioecono...
Le rationnement de crédit par les taux d'intérêt constitue l'une des techniques de gestion des ri... more Le rationnement de crédit par les taux d'intérêt constitue l'une des techniques de gestion des risques en relation avec les asymétries d'information précontractuelles. Ce mécanisme, lorsqu'il est pratiqué par les banques conventionnelles, conduit le marché de crédit à des équilibres sous-optimaux générant de la sélection adverse (Stiglitz & Weiss, 1981). En effet, le rationnement de crédit par le taux d'intérêt aboutit à l'éviction des firmes les moins risquées et induit par conséquent l'augmentation du risque moyen du marché du crédit, la diminution de la rentabilité des banques et une réduction de production réelle. L'objectif de cet article est d'analyser la pratique du mécanisme de rationnement de crédit par les banques islamiques. Contrairement au cas des banques conventionnelles. Cette pratique permettrait aux banques islamiques de réduire les asymétries d'information précontractuelles et de relever le niveau de rentabilité du secteur bancaire.
International Journal of Business and Management, 2012
The income elasticity of food expenditures versus income elasticity of calories intake controvers... more The income elasticity of food expenditures versus income elasticity of calories intake controversy marked all the literatures of the 1980 and 1990 decennaries at the subject of fight against foods insecurity. Food insecurity phenomena are recurrent in northern Cameroon. Public policies for ameliorating the level of nutrition of undernourished and vulnerable households consisted to distribution cereals. Without any theoretical and empirical basis, all redistribution policies are budgetary costly and can generate unwished or negative effects and be with limited impact. The aim of this study is to situate the Cameroonian specificities in the income elasticity controversy and to propose the optimal canal of transmission of policies effects. The utilization of raw data of ECAM96 in a retrospective study place income elasticity of food expenditures at the interval [0.21, 1.54] and income elasticity of calories intake in [0.39, 0.59] for households. The income elasticity of food expenditures channel is optimal. The increase of real income however have to be oriented on food prices for exclusive consumption of target households for to channel policy effects and to avoid negative effects on social sectors (health, education).
International Journal of Business and Management, 2013
Banks in developing countries are too much liquidity, result of the poor sectoral allocation of r... more Banks in developing countries are too much liquidity, result of the poor sectoral allocation of resources, caused by their inefficiency in the production of information and in the management of risk. The economies of developing countries are, also, in a context of financial repression where the rates are capped at low levels paying evil savings and do not favor the formation of capital. The great importance of liquidity at the strict sense M1 in the monetary mass (80% according to Goldsmith, 1969) in the economies of developing countries and the lack of substitutability between physical capital and financial capital established by McKinnon (1973) brings him to advocate for these economies the principle of money as a relay to capital. The alternative posed by Islamic banks, effective in the production of information (Alim B., 2011) and in the risk management (Khan M., 1986; Alim B., 2011) favorable to a better sectoral policy, faced to a peculiar asymmetric risk upstream of the financing operation. The purpose of the study is to show that this risk, mainly financial, has such effect to reduce or even eliminate the utility of depositors and may constitute a barrier to the principle of money as a relay to capital. If Islamic banking is recommendable because adapted to the financing of emerging economies, it should be defined for this system the management mechanisms of this type of risk with evident impact.
Economic resilience under COVID-19 in the CEMAC zone: Are procyclical adjustments of capital requ... more Economic resilience under COVID-19 in the CEMAC zone: Are procyclical adjustments of capital requirements necessary? By Alim BELEK 1a Djimoudjiel DJEKONBE b † & Anatole Toinar MOGOTA c Abstract. This paper analyzes the effects of procyclical regulatory capital adjustments on the ability of CEMAC economies to recover from the COVID-19. To achieve the objective, it uses quarterly data from 2005 to 2020 and Generalized Least Squares estimators as a technique. The results obtained show that the severity of the COVID-19 significantly impacted the economies of the sub-region and their ability to be resilient. Further, the results are robust regardless of the economic resilience indicator considered. Pro-cyclical capital adjustments in the pandemic context have a positive impact on resilience, thereby reducing exposure to economic vulnerabilities. It is advisable to promote countercyclical adjustments of regulatory capital to improve economic resilience. This is regardless the fact that under COVID-19, economic contractions may induce banks to adopt more pro-cyclical behavior in order to reduce the vulnerability of economies.
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