Format:
Online-Ressource (26 p)
Edition:
Online-Ausg.
ISBN:
1484306597
,
9781484306598
Series Statement:
IMF Working Papers Working Paper No. 14/35
Content:
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
Additional Edition:
Erscheint auch als Druck-Ausgabe Diallo, Oumar Rising BRICs and Changes in Sub-Saharan Africa's Business Cycle Patterns Washington, D.C. : International Monetary Fund, 2014 ISBN 9781484306598
Language:
English
DOI:
10.5089/9781484306598.001
