Trade Openness and Risk Sharing in Sub-Saharan Africa: Do Institutions and Financial Depth Matter?

John Bosco Nnyanzi ()

Global Economy Journal, 2016, vol. 16, issue 1, 161-187

Abstract: The study investigates the extent to which trade openness could determine consumption risk sharing. The findings from panel regressions on Sub-Saharan African countries suggest a significant contribution of trade integration in the allocation of consumption risk. Further results point to the importance of reducing corruption if countries are to unhinge domestic consumption from domestic production. Additionally, as countries achieve higher financial deepening, they could become independent from international financial reliance thereby enjoying less Consumption risk sharing. The study argues for policies to promote trade and fight corruption if the observed levels of risk sharing in Sub-Saharan Africa are to improve.

Keywords: trade openness; risk sharing; institutional quality; financial depth; Sub-Saharan Africa (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1515/gej-2015-0013

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