Responses of African economies to the international economic shocks: an empirical study

Giscard Assoumou Ella ()
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Giscard Assoumou Ella: LEAD - Laboratoire d'Économie Appliquée au Développement - UTLN - Université de Toulon

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Abstract: The objective of this paper is first to verify the assumption of decoupling or no decoupling of African economic conjunctures and international economic shocks. Our study has tested this assumption in 15 African countries using a SVAR model for the period 1970-2007 and the results suggest that there is no decoupling. In fact 12 countries are exposed to OEDC GDP per capita shocks, six to Federal funds effective rate shocks and five to World price of oil shocks. Furthermore, we investigate the viability of an economic and monetary union creation for the African countries and a unified currency using the comparative of the reaction of any African economy to those international shocks. The impulse response functions of the African economies after an international income, monetary or price shocks tend to be in general more or less similar. According to this indicator, we are optimistic for the possibility and the viability of this project.

Keywords: African economies; international economic shocks; SVAR model (search for similar items in EconPapers)
Date: 2012-06-22
New Economics Papers: this item is included in nep-afr
Note: View the original document on HAL open archive server: https://hal.science/hal-00721633v2
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Citations: View citations in EconPapers (4)

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