Publication Date


Document Type


First Advisor

Ryu, Duchwan D.

Degree Name

M.S. (Master of Science)

Legacy Department

Department of Statistics and Actuarial Science


This thesis evaluates the impact of credit offered by the banking system on the investment rate of seven West African countries that are members of the West African Economic and Monetary Union (WAEMU) countries using data from the World Bank dataset from 1996-2012. Using a fixed effect model and random intercept model, I find that the credit offered by the banking system to private investors has a positive and statistically significant effect on the investment rate. In contrast, no significant effect was found for the credit offered by the banking system to the government. Further, I find a negative relationship between the credit offered to the private sector and the credit offered to governmental institutions; however, this relationship is not statistically significant.


35 pages




Northern Illinois University

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