Resilience of Developing Economies to External Shocks: Empirical Evidence from CEMAC Countries
Bibliographic record
Abstract
This study explores the effects of the 1994 CFA currency depreciation, the 2008 Global Financial Crisis (GFC), and instances of political coups on the relationships between FDI inflow, economic growth, and governance in the Central African Economic and Monetary Community (CEMAC) countries. By examining the impact of these events on FDI, growth, and governance, this paper provides important details of responses to external shocks and internal political disruptions. We employ panel VAR analysis with data from 1990 to 2019 to explore the dynamic relationships among these variables. The results show that growth and governance are not determining factors for attracting FDI in the CEMAC sub-region. Governance, on the other hand, stands as a determining factor for growth. Our findings also suggest that the 1994 CFA currency depreciation, 2008 GFC, and coups had no significant impact on FDI, growth, and governance. Although these events’ effects may expose the countries’ vulnerability to external shocks influencing the dynamics of FDI, economic growth, and governance, their impact did not seem to be evident. However, political instability, evidenced by coups, emerges as a crucial factor shaping the interactions between FDI, growth, and governance in CEMAC countries. Our analysis was conducted using the EViews software package.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.002 | 0.001 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.001 | 0.000 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.001 |
| Open science | 0.001 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".