Hidden Bibliographic Details
| Other authors / contributors: | Hosseinkouchack, Mehdi, issuing body.
Meyer Cirkel, Alexis, issuing body.
International Monetary Fund. African Department, issuing body.
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| ISBN: | 9781498393072
1498393071
1498305059
9781498305051
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| Notes: | "December 2014."
"African Department."
Includes bibliographical references (pages 20-21).
English.
Online resource; title from pdf title page (IMF.org Web site, viewed January 5, 2015).
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| Summary: | Sub-Saharan African countries are exposed to spillovers from global financial variables, but the impact on economic activity is more significant in more financially developed economies. Generalized impulse responses from a GVAR exercise demonstrate how the CBOE volatility index (VIX) and credit conditions around the globe impact a subset of sub-Saharan African economies and regions. The estimated relationships suggest that the effect of global uncertainty is more pervasive in exports, with the impact on economic and lending activities being mixed. The channels of transmission include the effects of global financial variables on commodity prices and on trading-partner's macroeconomic and financial variables. The analysis suggests that shocks to credit conditions in the euro area and the U.S. have not significantly affected local lending conditions or economic activity in sub-Saharan Africa during 1991-2011, except perhaps in South Africa.--Abstract.
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| Other form: | Print version: Canales Kriljenko, Jorge Iván. Global Financial Transmission into Sub-Saharan Africa - A Global Vector Autoregression Analysis. Washington : International Monetary Fund, ©2014
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| Standard no.: | 10.5089/9781498305051.001
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