analysis of the impact of microfinance on the economic development of cemac states

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1、ClassifiedIndex:Code:10075U.D.C:No:20120901002AdissertationfortheDegreeofM.EconomicsAnalysisoftheImpactofMicrofinanceontheEconomicDevelopmentofCEMACStatesCandidate:NDEBISSAKORMOUGUERomeoBorisSupervisor:Prof.KANGSHUSHENG&Dr.SONGYANANAcademicDegreeApplied:MasterofEconomicsSpecialty:Fi

2、nanceUniversity:HebeiUniversityDateofOralExamination:May,2015AbstractAbstractFinancialsystemhasapositiveimpactoneconomicdevelopmentofcountries.ThusthemainobjectiveofthispaperistostresstheroleoffinancialsystemoneconomicdevelopmentofEconomicandMonetaryCommunityofCentralAfrica,EMCCA(Co

3、mmunautéEconomiqueMonétairedel’AfriqueCentrale,CEMAC)countries,mainlytheroleofMFIsthroughsavingsmobilizationfunctionandmicrocredits.Toachievethisgoal,wehaveconsideredthatfinancialsystemconsistsofbankingsystemandmicrofinanceinstitutions.ThefinancialsystemofCEMACisdominatedbytheformal

4、financialsystem,namelythebankingsystem.Duringtheperiodbeforeindependence,theauthoritieshavecarriedoutthenationalizationoffinancialinstitutionsinheritedfromcolonizationandtheestablishmentofnewbanks.Theymaintainedcontroloverinterestratestominimizethecostofcredittopublicenterprisesandc

5、ertainpriorityareas.However,theinterventionoftheauthoritiesdidnotgivegoodresults.ThisledCEMACtoliberalizeitsfinancialsystemforthepurposeofenhancingthemobilizationofsavingsandreallocationofresourcestoboasteconomicdevelopmentandmicrofinanceemerged.Theanalysisrevealedthattherestructuri

6、ngofthebankingsectorhasenabledbanksinCEMACcountriestohaveexcessliquidityandfavorthegrowthofmicrofinanceinstitutions(MFIs).Howeverbankscontributiontothefinancingofeconomicactivitiesremainlimited,thusMFIshaveincreasetheiractivitiesandcontributetothefinancingofpoorpopulationmainlyfromr

7、uralareaswherebanksareabsents.ThestudymadesomerecommendationsmainlythedevelopmentofbankingsystemandtheimprovementofmicrofinanceservicestosustaineconomicdevelopmentinCEMACingeneralandinCentralAfricanRepublicinparticular.KeywordsFinancialSystemCEMACCentralAfricanRepublicEconomicdevelo

8、pment.IAcronymsAcro