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Macroeconomic Shocks And Trade Flows Within Sub Saharan Africa
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Book Synopsis Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa by : Mr.Tamim Bayoumi
Download or read book Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 1995-12-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Africa has more countries than any other continent, and hence the largest number of potential monetary and exchange rate arrangements. This paper looks at whether the existing highly fractured monetary arrangements in Sub-Saharan Africa correspond to what might be expected from the theory of optimum currency areas. This is done by analyzing both the size and correlation of real disturbances across countries and the level of intra-regional trade. The results indicate little evidence that Sub-Saharan African countries would benefit in the near future from larger currency unions.
Book Synopsis Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa by : Tamim Bayoumi
Download or read book Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa written by Tamim Bayoumi and published by . This book was released on 2006 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Africa has more countries than any other continent, and hence the largest number of potential monetary and exchange rate arrangements. This paper looks at whether the existing highly fractured monetary arrangements in Sub-Saharan Africa correspond to what might be expected from the theory of optimum currency areas. This is done by analyzing both the size and correlation of real disturbances across countries and the level of intra-regional trade. The results indicate little evidence that Sub-Saharan African countries would benefit in the near future from larger currency unions.
Book Synopsis Macroeconomic Shocks and Trade Flows Within Sub-Saharan Africa by : Tamim A. Bayoumi
Download or read book Macroeconomic Shocks and Trade Flows Within Sub-Saharan Africa written by Tamim A. Bayoumi and published by . This book was released on 1995 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Macroeconomic Shocks and Trade Flows Within Sub-Saharan Africa by : Tamim A. Bayoumi
Download or read book Macroeconomic Shocks and Trade Flows Within Sub-Saharan Africa written by Tamim A. Bayoumi and published by . This book was released on 1995 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Macroeconomic Fluctuations in Sub-Saharan Africa by : Mr.Alexander W. Hoffmaister
Download or read book Macroeconomic Fluctuations in Sub-Saharan Africa written by Mr.Alexander W. Hoffmaister and published by International Monetary Fund. This book was released on 1997-07-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sources of macroeconomic fluctuations in sub–Saharan African are examined by comparing the CFA franc countries with the non–CFA franc countries. External shocks, especially terms of trade shocks, appear to have a greater influence on fluctuations of output and the real exchange rate in CFA franc countries. This result does not appear to be associated with differences in the economic structure but may reflect the fixed exchange rate regime, which does not (partially) buffer these countries from external shocks. Macroeconomic fluctuations in non–CFA franc countries are similar to those in other developing countries, particularly in Latin America.
Book Synopsis Economic Fluctuations in Sub-Saharan Africa by : Mr.Giovanni Melina
Download or read book Economic Fluctuations in Sub-Saharan Africa written by Mr.Giovanni Melina and published by International Monetary Fund. This book was released on 2019-01-22 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: We compare business cycle fluctuations in Sub-Saharan African (SSA) countries vis-à-vis the rest of the world. Our main results are as follows: (i) African economies stand out by their macroeconomic volatility, which is is reflected in the volatility of output and other macro variables; (ii) inflation and output tend to be negatively correlated; (iii) unlike advanced economies and emerging markets (EMs), trade balances and current accounts are acyclical in SSA; (iv) the volatility of consumption and investment relative to GDP is larger than in other countries; (v) the cyclicality of consumption and investment is smaller than in advanced economies and EMs; (vi) there is little comovement between consumption and investment; (vii) consumption and investment are strongly positively correlated with imports.
Book Synopsis Trade Integration and Global Value Chains in Sub-Saharan Africa by : Céline Allard
Download or read book Trade Integration and Global Value Chains in Sub-Saharan Africa written by Céline Allard and published by International Monetary Fund. This book was released on 2016-03-25 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This analysis of the extent of trade integration of sub-Saharan African (SSA) countries in the global economy as well as within the region over the 1995–2013 period focuses on four key concepts: (1) trade openness, captured by import and export flows; (2) the centrality in the global and regional trade network, a measure that takes into account not only the size of trade but also the number of trade partners and the respective weight of these trade partners in global trade; (3) gravity model estimates that account for country- and region-specific determinants of bilateral trade flows; and (4) global value chain (GVC) integration. Using both existing data and a newly available dataset based on multiregion input and output tables, this analysis led to several findings: (1) trade openness has increased strongly; (2) integration in the global economy has made the region more vulnerable to external shocks; (3) levels of trade flows emanating from sub-Saharan Africa are still only half the magnitude of those experienced elsewhere in the world; (4) the region still has ways to go to better integrate in GVCs; and (5) it is more critical than ever to make progress in filling the infrastructure gap by lowering tariff and nontariff barriers, improving the business climate and access to credit, and continuing to enhance education outcomes.
Book Synopsis Real Overvaluation, Terms of Trade Shocks, and the Cost to Agriculture in Sub-Saharan Africa by : Ibrahim Elbadawi
Download or read book Real Overvaluation, Terms of Trade Shocks, and the Cost to Agriculture in Sub-Saharan Africa written by Ibrahim Elbadawi and published by World Bank Publications. This book was released on 1992 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: The observed decline of agriculture and the general worsening of economic conditions in Sub-Saharan Africa are linked to economic distortions, which limit growth.
Book Synopsis Stabilization and Structural Adjustment by : Finn Tarp
Download or read book Stabilization and Structural Adjustment written by Finn Tarp and published by Routledge. This book was released on 2002-09-11 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reveals and examines the relevance of the macroeconomic theory and models behind recommendations for stabilization and structual adjustment. Alternaive analytical approaches are discusses. This is done on the basis of an up-to-date review of developments in sub-saharan Africa during the 1980's and within a common analytical framework.
Book Synopsis Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa by : Kyung-woo Lee
Download or read book Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa written by Kyung-woo Lee and published by International Monetary Fund. This book was released on 2009-10-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper investigates the determinants and the macroeconomic role of remittances in sub-Saharan Africa, assembling the most comprehensive dataset available so far on remittances in the region and incorporating data on the diaspora. It finds that remittances are larger for countries with a larger diaspora or when the diaspora is located in wealthier countries, and that they behave countercyclically, consistent with a role as a shock absorber. Although the effect of remittances in growth regressions is negative, countries with well functioning domestic institutions seem nevertheless to be better at unlocking the potential for remittances to contribute to faster economic growth.
Book Synopsis Trade and Development in Sub-Saharan Africa by : J. H. Frimpong-Ansah
Download or read book Trade and Development in Sub-Saharan Africa written by J. H. Frimpong-Ansah and published by Manchester University Press. This book was released on 1991 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: Results of a research project on "Trade and Development in Sub-Saharan Africa", organized by the Rockefeller Foundation, the Centre for Economic Policy Research and the Commonwealth Secretariat. Papers focus on export performance, the international trade system and the effects of various policies.
Book Synopsis Africa at a Turning Point? by : Delfin Sia Go
Download or read book Africa at a Turning Point? written by Delfin Sia Go and published by World Bank Publications. This book was released on 2008-04-14 with total page 602 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the mid-1990s, sub-Saharan Africa has experienced an acceleration of economic growth that has produced rising incomes and faster human development. However, this growth contrasts with the continent's experience between 1975 and 1995, when it largely missed out on two decades of economic progress. This disparity between Africa's current experience and its history raises questions about the continent's development. Is there a turnaround in Africa s economy? Will growth persist? 'Africa at a Turning Point?' is a collection of essays that analyzes three interrelated aspects of Africa's recent revival. The first set of essays examines Africa's recent growth in the context of its history of growth accelerations and collapses. It seeks to answer such questions as, is Africa at a turning point? Are the economic fundamentals finally pointing toward more sustainable growth? The second set of essays looks at donor flows, which play a large role in Africa's growth. These essays focus on such issues as the management and delivery of increased aid, and the history and volatility of donor flows to Africa. The third set of essays considers the recent impact of one persistent threat to sustained growth in Africa: commodity price shocks, particularly those resulting from fluctuations in oil prices.
Book Synopsis Sub-Saharan Africa by : Mr.Sanjeev Gupta
Download or read book Sub-Saharan Africa written by Mr.Sanjeev Gupta and published by International Monetary Fund. This book was released on 2007-10-16 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is the impact on trade in sub-Saharan Africa of the recent rapid growth in China and other Asian countries, and the associated commodity price boom? This paper looks at how trading patterns (both destinations and composition) are changing in sub-Saharan Africa. Has the region managed to diversify the products it sells from commodities to manufactured goods? Has it expanded the range of countries to which it exports? And what about the import side? The time is ripe for sub-Saharan African countries to climb up the value chain of their commodity-based exports and/or achieve an export surge based on labor-intensive manufacturing.
Book Synopsis Global Financial Transmission into Sub-Saharan Africa – A Global Vector Autoregression Analysis by : Mr.Jorge Iván Canales Kriljenko
Download or read book Global Financial Transmission into Sub-Saharan Africa – A Global Vector Autoregression Analysis written by Mr.Jorge Iván Canales Kriljenko and published by International Monetary Fund. This book was released on 2014-12-29 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sub-Saharan African countries are exposed to spillovers from global financial variables, but the impact on economic activity is more significant in more financially developed economies. Generalized impulse responses from a GVAR exercise demonstrate how the CBOE volatility index (VIX) and credit conditions around the globe impact a subset of sub-Saharan African economies and regions. The estimated relationships suggest that the effect of global uncertainty is more pervasive in exports, with the impact on economic and lending activities being mixed. The channels of transmission include the effects of global financial variables on commodity prices and on trading-partner’s macroeconomic and financial variables. The analysis suggests that shocks to credit conditions in the euro area and the U.S. have not significantly affected local lending conditions or economic activity in sub-Saharan Africa during 1991-2011, except perhaps in South Africa.
Book Synopsis Echoes Across Borders by : Hany Abdel-Latif
Download or read book Echoes Across Borders written by Hany Abdel-Latif and published by International Monetary Fund. This book was released on 2024-05-17 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper quantifies the macroeconomic spillover effects of conflict within sub-Saharan African (SSA) countries using a new Conflict Spillover Index (CSI), which accounts for conflict intensity and distance from conflict-affected countries. Our findings reveal an escalation in conflict spillovers across SSA since 2011, marked by considerable cross-country heterogeneity. Impulse responses show that conflict spillovers shocks significantly and persistently hinder economic growth, while concurrently elevating inflation in the “home” country. Conflict spillover shocks are also associated with increases in (current) government spending and government debt. Furthermore, the international trade transmission channel of spillovers operates mostly through increased imports, while negative effects on FDI winddown over time. Moreover, state-dependent impulse responses underscore the importance of good governance, fiscal space, and foreign aid in attenuating the adverse macroeconomic spillover effects of conflict. The detrimental impact of conflict on output is more severe in environments with weaker governance and limited fiscal space. Government expenditures tend to rise following a spillover shock in contexts of high governmental effectiveness, possibly reflecting the use of policy buffers to respond to shocks. In that context, the papers shed light on important factors to promote resilience in SSA economies.
Book Synopsis Rising BRICs and Changes in Sub-Saharan Africa’s Business Cycle Patterns by : Oumar Diallo
Download or read book Rising BRICs and Changes in Sub-Saharan Africa’s Business Cycle Patterns written by Oumar Diallo and published by International Monetary Fund. This book was released on 2014-02-14 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the extent to which Sub-Saharan Africa (SSA)’s business cycle is synchronized with that of the rest of the world (RoW). Findings suggest that SSA’s business cycle has not only moved in the same direction as that of the RoW, but has also gradually drifted away from the G7 in favour of the BRICs. Trade with the BRICs turns out to be the strongest driver of this shift. Much of this impact unfolds through aggregate demand impulse from trade. As fiscal policy stances in SSA and the BRICs are not synchronized, they have not caused cyclical output correlation between these two groups of countries. Also, financial openness, which is at a very early stage across most SSA countries, has acted as a neutral force.
Book Synopsis Regional Economic Outlook, April 2015, Sub-Saharan Africa by : International Monetary Fund. African Dept.
Download or read book Regional Economic Outlook, April 2015, Sub-Saharan Africa written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2015-04-28 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp decline in oil and other commodity prices have adversely impacted sub-Saharan Africa. Nevertheless, the region is projected to register another year of solid economic performance. In South Africa, however, growth is expected to remain lackluster, while in Guinea, Liberia, and Sierra Leone the Ebola outbreak continues to exact a heavy economic and social toll. This report also considers how sub-Saharan Africa can harness the demographic dividend from an unprecedented increase in the working age population, as well as the strength of the region's integration into global value chains.
