Role of Financial Stability in Synchronising Real and Financial Cycle in CEMAC

The issue of synchronisation of economic cycle face the difficulty of framing factors that affect the different phases of the cycle This paper aim to highlight the role plays by financial stability in the synchronisation of financial and real cycles The analysis is carried out by measuring the impact of financial stability on the synchronisation of the different components of real and financial cycles Using panel VAR models impulse response functions based on Monte Carlo simulations were exploited to measure these effects Data from the BEAC and COBAC databases for all CEMAC countries has covered the period 2000Q1-2020Q4 The results obtained from empirical analyses confirm the fact that financial stability plays an important role by synchronising the various factors associated to each cycles real cycle and the financial cycle The analysis of the impulse response functions has showed that the financial stability index has a positive impact on the synchronisation of the financial and real cycles in the long run term Based on these results the main policy implication has been to encourage monetary authorities to strengthen the objective of financial stability in the CEMA

Gendered Effects of Crop Diversification and Climate Shocks on Household Food Security Status in Nigeria

This paper studies the impact of climate shocks and crop diversification on household food security in Nigeria by focusing on gender-disaggregated effects. We combine historical rainfall and temperature datasets with the World Bank’s Living Standards Measurement Study - Integrated Surveys on Agriculture (LSMS-ISA) for Nigeria. Furthermore, we use an adapted version of the crop diversification Weighted Shannon index (WSI) to measure crop diversification. The food security indicators adopted are the Household Dietary Diversity Score (HDDS), the reduced Coping Strategy Index (rCSI), and the per capita food expenditures. We use a set of panel and dynamic panel models for our analysis, and our results show that climate shocks have negative effects on food security, especially in households with men plot managers. However, we find that crop diversification is positively linked to food security. Our results show the need to target policies to encourage crop diversification in households and promote crop diversification components in women empowerment programs