Rising BRICs and Changes in Sub-Saharan Africa’s Business Cycle Patterns
Download or Read eBook Rising BRICs and Changes in Sub-Saharan Africa’s Business Cycle Patterns PDF written by Oumar Diallo and published by International Monetary Fund. This book was released on 2014-02-14 with total page 26 pages. Available in PDF, EPUB and Kindle.
| Author | : Oumar Diallo |
| Publisher | : International Monetary Fund |
| Total Pages | : 26 |
| Release | : 2014-02-14 |
| ISBN-10 | : 9781484306758 |
| ISBN-13 | : 1484306759 |
| Rating | : 4/5 (58 Downloads) |
Book Synopsis Rising BRICs and Changes in Sub-Saharan Africa’s Business Cycle Patterns by : Oumar Diallo
Book excerpt: 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.
