Performances en matière de convergence macroéconomique dans la zone CEDEAO : une approche basée sur l’analyse factorielle multiple

Abstract

The purpose of this paper is to analyze the performance of countries in the ECOWAS areas in
terms of macroeconomic convergence. Indeed, in its strategy for the implementation of its
revised roadmap, ECOWAS has set itself the objective of implementing economic programs
and policies aimed at macroeconomic convergence and stability of its member states. Due to
the nature of the data, we use an approach based on multiple factor analysis. This
methodology made it possible to see the profile of the different countries and to highlight
three groups of countries according to macroeconomic performance and therefore compliance
with the various convergence criteria. The results show that the WAEMU countries and Cape
Verde achieved the best performances during the period from 2016 to 2019, in terms of
meeting the convergence criteria. These countries are followed by The Gambia, Ghana and
Guinea which constitute the second best performing group of countries. On the other hand,
Nigeria, Liberia and Sierra Leone are the least performing countries in terms of compliance
with the convergence criteria.