IMF: Larger long-term credit facilities needed in WAEMU
An IMF paper published in May studies the link between financial development and economic growth in the West African Economic and Monetary Union (WAEMU) and finds that long term financing is preferred to short term due to the higher returns that accrue from long term projects.
Using panel data for WAEMU countries over the period 1995-2006, the results suggest that while financial development does support growth in the region, long-term bank financing has a greater impact on economic growth than
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