ANALYSIS OF THE DETERMINANTS OF THE PERFORMANCE OF INVESTMENT PROJECTS FINANCED BY THE WORLD BANK IN WAEMU COUNTRIES: AN ECONOMETRIC APPROACH

Abstract

This study analyzes the determinants of the performance of investment projects financed by the World Bank in the WAEMU countries. A descriptive analysis and an econometric analysis based on the estimation of a probit model have been developed. Results concerning data relating to 225 projects covering the period 2002 2019 show that, on the one hand, the model is globally and statistically significant, and on the other hand, the performance of the projects is influenced by the duration of the project, the amount allocated to the project, the nature of the project, the efficiency of the government and the growth rate of real GDP per capita. Also, our empirical study suggests to the investors, mainly to the World Bank that the longer duration of a project allows adjustments to be made which improve project performance and that large-scale projects are the most efficient.