Global financial transmission into Sub-Saharan Africa : a global vector autoregression analysis /

Global financial transmission into Sub-Saharan Africa : a global vector autoregression analysis /

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Bibliographic Details
Author / Creator:	Canales-Kriljenko, Jorge Iván, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2014.
Description:	1 online resource (29 pages) : color illustrations.
Language:	English
Series:	IMF working paper, 1018-5941 ; WP/14/241 IMF working paper ; WP/14/241.
Subject:	Capital movements -- Africa, Sub-Saharan -- Econometric models. Externalities (Economics) -- Econometric models. Financial crises -- Developed countries -- Econometric models. Economic development -- Africa, Sub-Saharan -- Econometric models. Capital movements -- Econometric models. Economic development -- Econometric models. Economic history. Externalities (Economics) -- Econometric models. Financial crises -- Econometric models. Africa, Sub-Saharan -- Economic conditions -- Econometric models. Sub-Saharan Africa. Developed countries. Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12504210

Hidden Bibliographic Details
Other authors / contributors:	Hosseinkouchack, Mehdi, issuing body. Meyer Cirkel, Alexis, issuing body. International Monetary Fund. African Department, issuing body.
ISBN:	9781498393072 1498393071 1498305059 9781498305051
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).
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.
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
Standard no.:	10.5089/9781498305051.001

Description
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.
Item Description:	"December 2014." "African Department."
Physical Description:	1 online resource (29 pages) : color illustrations.
Bibliography:	Includes bibliographical references (pages 20-21).
ISBN:	9781498393072 1498393071 1498305059 9781498305051
ISSN:	1018-5941 ;