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Impact of Budget Deficit on Private Consumption inWAEMU Countries: Evidence from Pooled Mean Group Estimation
International Journal of Economics and Finance
This study empirically investigates the impact of budget deficit on private consumption in seven member countries of the West African Economic and Monetary Union (WAEMU), namely Benin, Burkina Faso, Côte d'Ivoire, Mali, Niger, Senegal and Togo. It applies the pooled mean group estimation method to annual data covering the period 1970 to 2013. The results show that budget deficit and per capita GDP have long run positive effects on household consumption whereas inflation rate is detrimental todoi:10.5539/ijef.v8n3p189 fatcat:zeijdglerzfijmf36lm27jqafe