Global Journal of Management and Business Research, B: Economics and Commerce, Volume 20 Issue 1

We have deducted the following weighting from the results of our application: - Bank credit to bank deposits (0.573%) - Deposit money banks' assets to GDP (9.419%) - Domestic credit to the private sector (9.526%) - Financial system deposits to GDP (7.017%) - Liquid liabilities to GDP (7.229%) - Private credit by deposit money banks and other financial institutions to GDP (9.627%) - Voice-and-Accountability (6.578%), - Political Stability-No-Violence (6.859%), - Government-Effectiveness (11.319%), - Regulatory-Quality (10.556%), - Rule-of-Law (10.942%), - Control-of-Corruption (10.355%) Source: Author ANGOLA ARGENTINA AUSTRALIA AUSTRIA BAHRAIN BANGLADESH BELARUS BELGIUM BENIN BHUTAN BOLIVIA BOTSWANA BRAZIL BURKINA FASSO BURUNDI CAMEROON CAPE VERDE CENTRAL AFRICAN REPUBLIC CHAD CHILE CHINA COLOMBIA CONGO, DEM. REP. COTE D'IVOIRE CZECH REPUBLIC DENMARK ECUADOR EGYPT, ARAB REP. EQUATORIAL GUINEA FINLAND FRANCE GABON GAMBIA, THE GERMANY GHANA GREECE HONG KONG SAR, CHINA HUNGARY ICELAND INDIA IRELAND ISRAEL ITALY JAPAN JORDAN KAZAKHSTAN KENYA KOREA, REP. KUWAIT LESOTHO LUXEMBOURG MADAGASCAR MALAYSIA MALI MEXICO MONGOLIA MOROCCO MOZAMBIQUE NEPAL NETHERLANDS NIGER NIGERIA PAKISTAN PERU PHILIPPINES POLAND PORTUGAL RUSSIAN FEDERATION SAUDI ARABIA SENEGAL SIERRA LEONE SINGAPORE SLOVAK REPUBLIC SOUTH AFRICA SPAIN SUDAN SWEDEN SWITZERLAND THAILAND TOGO TUNISIA TURKEY UGANDA UNITED STATES URUGUAY VENEZUELA, RB VIETNAM ZAMBIA -4 -3 -2 -1 0 1 2 3 4 -6 -4 -2 0 2 4 6 F2 (10,36 %) F1 (74,20 %) Observations (axes F1 et F2 : 84,56 %) Observations actives Figure 2: The Principal Component Analysisgraph © 2020 Global Journals 29 Global Journal of Management and Business Research Volume XX Issue I Version I Year 2020 ( ) B Institutional Quality and Financial Development in West Africa Economic and Monetary Union