Corruption, Investment and Economic Growth in the Economic and Monetary Community of Central Africa Zone: Do Dynamic Interconnections Exist?

This article explores the dynamic interactions between corruption, investment and economic growth in the CEMAC zone. Using a panel VAR (Vector Autoregressive) specification and a GMM estimation method, the study reveals dynamic connections between these variables. The results indicate that corruption hinders economic growth, and that economic expansion contributes to reducing opportunities and incentives for corruption. Furthermore, corruption discourages investment, whether public or private, while public investment can exacerbate corrupt practices. Recommendations include strengthen anti-corruption governance in public investment management. This can be done by enforcing transparency and accountability in public procurement, conducting independent audits of large infrastructures projects and by using digital tools to track and report public expenditure in real time. Another recommendation is to create conditions for inclusive economic growth to reduce corruption incentives. This can be done by promoting private sector development through regulatory simplification and improved legal frameworks, expanding access to education, employment and entrepreneurship to reduce reliance on rent-seeking behaviours and finally encouraging investment I sectors that create broad-based economic opportunities. JEL Classification : C33, E22, O40, O43.