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Theoretical and Applied Economics
No. 2 / 2019 (619), Summer

Per capita gross domestic product and welfare of Gabonese households: A VAR model with exogenous hypothesis

Giscard ASSOUMOU-ELLA
CIREGED, Omar Bongo University, Gabon
LEAD, University of Toulon, France

Abstract. The objective of the study is to analyze the effect of per capita gross domestic product on the monetary and qualitative well-being of Gabonese households. As a result, we use a VAR model with exogenous hypothesis. The results show that wealth creation observed in Gabon from 1980 to 2017 does not promote the monetary well-being of households. Its effect on qualitative well-being is ambiguous. In addition, well-being responses to interaction of per capita GDP impulses with those of the labor market lead to proposing to the government the adoption of economic policies that change the structure of the economy. Indeed, the distribution of the fruits of growth should go through the creation of jobs, while the Gabonese economy is currently driven by the primary sector with few job opportunities. The results obtained by making predictions with the scenarios of deterioration of the labor market also militate for this proposal.

Keywords: per capita GDP; monetary and qualitative well-being; VAR model with exogenous hypothesis.

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