Theoretical and Applied Economics
No. 2 / 2024 (639), Summer
Effects of exchange relative prices on macroeconomic stability in sub-Saharan African countries
Université Norbert Zongo, Burkina Faso
Abstract. This paper analyzes the effects of relative prices on macroeconomic stability in sub- Saharan African countries by considering inflation, real effective exchange rate, government deficit, and a composite index of macroeconomic stability using techniques combining a panel Vector Autoregressive (VAR) and the generalized method of moments (GMM) for 30 countries over the period 1991-2017. The results show that the terms of trade (external relative prices) have positive effects on the real exchange rate, the reduction of the public deficit, and on macroeconomic stability in general. Impulse response function analysis and variance decomposition confirm these different results.
Contents
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Impact of inflation and exchange rate on stock market returns in India: An ARDL approach
Westphalian order in pan-Arabism culture societies
The generational divide – A debate on technology and the decision-making process
The trend of FDI inflows and its impact on the Indian economy
Effects of exchange relative prices on macroeconomic stability in sub-Saharan African countries
Crowding-out, home bias and financial stability in the aftermath of the sovereign debt crisis
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ICT and economic growth: Evidence from lower-middle income countries of South Asia
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The fintech frontier: Investigating fintech entrepreneurial intentions in the light of fintech awareness