EXPLORING FINANCIAL LANDSCAPES: CONTRASTING BANK AND MARKET DYNAMICS IN CAMEROON'S ECONOMIC DEVELOPMENT
Authors: Aisha Mbombo, Gabriel Nkambe
Published: June 2024
Abstract
<p>The Cameroon National Strategy (DSCE) set ambitious growth targets for 2020, aiming for a 5.5% growth rate. However, despite a slight increase in average growth from 3% under the PRSP during the period 2010-2020, the country fell short of its objectives. Several factors have been blamed for this, including the impact of falling oil prices and security issues in various regions. However, this paper shifts the focus to the financial system as the primary contributor to Cameroon's underperformance. Cameroon has historically maintained a bank-based financial system, with the Douala Stock Exchange (DSX) in operation from 2001 to 2019. Since 2019, it has become the host of the unified financial market for the six member countries of CEMAC after the merger of the BVMAC and DSX. However, the effectiveness of this financial market remains a subject of debate, and there is a notable lack of data regarding market performance and key variables that could aid in assessing the relative influence of banks and financial markets on economic growth in Cameroon</p>
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