Economic Fluctuations In Sub Saharan Africa
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Economic Fluctuations in Sub-Saharan Africa
Author | : Mr.Giovanni Melina |
Publisher | : International Monetary Fund |
Total Pages | : 32 |
Release | : 2019-01-22 |
Genre | : Business & Economics |
ISBN | : 1484394534 |
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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.