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Macroeconomic Fluctuations in Sub-Saharan Africa

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...

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Bibliographic Details
Main Author: Hoffmaister, Willy
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1997
Series:IMF Working Papers
Subjects:
Economic Policy
Inflation
Exchange Rate Arrangements
Balance Of Trade
Terms Of Trade
Dynamic Treatment Effect Models
Deflation
Trade Balance
Open Economy Macroeconomics
Currency
Exports And Imports
Diffusion Processes
International Economics
Time-series Models
Price Level
Foreign Exchange
Cycles
International Trade
Prices
Macroeconomics
Business Fluctuations
Real Exchange Rates
Dynamic Quantile Regressions
Empirical Studies Of Trade
State Space Models
Nternational Cooperation
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary: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
Physical Description:30 pages
ISBN:9781451954746

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