THE ROLE OF ECONOMIC FACTORS IN PUBLIC DEBT DETERMINATION IN THE GAMBIA: ARDL BOUND COINTEGRATION ANALYSIS

Cameroon, a member of the Community of Central African States (CEMAC), underwent significant financial reforms in the 1990s, prompted by the economic and banking crisis of the late 1980s and the pressures of the International Monetary Fund (IMF) as part of the structural adjustment program (SAP). These reforms aimed to create more efficient, resilient, and expansive financial systems, with proponents anticipating economic benefits through enhanced bank efficiency and effectiveness in resource mobilization and allocation. Key measures included governance enhancements, risk management improvements, and financial deregulation, alongside bank restructuring and capitalization strengthening to bolster banking soundness. As a result, the banking industry in Cameroon has witnessed substantial structural and institutional changes over the past decades, reshaping the governance landscape for banks operating within the country. This paper examines the implications of financial reforms on the governance of banks in Cameroon, exploring the transformative effects of regulatory changes and institutional shifts on banking industry dynamics. Drawing on theoretical frameworks and empirical evidence, it analyzes the impact of reforms on bank governance structures, risk management practices, and overall operational efficiency. Through a comprehensive review of literature and case studies, it elucidates the challenges and opportunities arising from evolving governance frameworks, offering insights into the complexities of managing financial institutions in a changing regulatory environment. The findings contribute to the broader discourse on financial sector development and governance reforms in emerging economies, highlighting the importance of adaptive governance strategies in navigating regulatory changes and fostering sustainable banking practices.