This study aims to answer the question of whether
investments have an effect on the economic diversification of the countries of
the Economic and Monetary Community of Central Africa (CEMAC). The panel data
used cover the period 1995-2019 and are extracted from the UNCTAD, WGI and WDI
databases of the World Bank. To address the research question, we used panel
data econometrics. The results obtained show that private investment improves
economic diversification, while public investment hinders economic
diversification in the CEMAC. These results imply 1) the need to enhance the
attractiveness of private investment in all sectors of the economy and 2) the
importance of improving state governance through a shift from the rentier to the
developmental state.
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