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Macroeconomic Fluctuations in Sub-Saharan Africa

Macroeconomic Fluctuations in Sub-Saharan Africa PDF Author: Mr.Alexander W. Hoffmaister
Publisher: International Monetary Fund
ISBN: 1451954743
Category : Business & Economics
Languages : en
Pages : 31

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Book Description
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.