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Economic Fluctuations in Sub-Saharan Africa
Mr.Giovanni MelinaMr.Rafael A Portillo
出版International Monetary Fund, 2019-01-22
主題Business & Economics / Economics / MacroeconomicsBusiness & Economics / Exports & ImportsBusiness & Economics / Inflation
ISBN14843945349781484394533
URLhttp://books.google.com.hk/books?id=KNesDwAAQBAJ&hl=&source=gbs_api
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註釋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.