On The Drivers Of Inflation In Sub-Saharan Africa by Nguyen, Anh D. M.

Full Title: On The Drivers Of Inflation In Sub-Saharan Africa
Author/Editor(s): Anh D. M Nguyen; Jemma Dridi; D. Filiz Unsal; Oral Williams
ISBN: 1513583018, 9781513583013
Publisher: International Monetary Fund
Published Place: Washington, D.C.
Published/Copyright Year: 2015
Language: English
Series: IMF Working Papers: Working Paper No. 15/189
IMF ELibrary
Number of pages: 1 online resource (28 pages)
Categories:
Deflation
Demand
Econometric Models
External Shocks
General
Global VAR (GVAR)
Inflation
Monetary Policy
Monetary Policy (Targets, Instruments, And Effects)
Price Level
Supply
Supply And Demand
Supply Shocks
Time-series Models
Vector Autoregression
Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Central African Republic
Chad
Comoros
Congo, Democratic Republic Of The
Congo, Republic Of
Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia, The
Ghana
Guinea
Guinea-Bissau
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Senegal
Seychelles
Sierra Leone
South Africa
Sub-Saharan Africa
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe


Content:
The perception that inflation dynamics in Sub-Saharan Africa (SSA) are driven by supply shocks implies a limited role for monetary policy in influencing inflation in the short run. SSA’s rapid growth, its integration with the global economy, changes in the policy frameworks, among others, in the last decade suggest that the drivers of inflation may have changed. We quantitatively analyze inflation dynamics in SSA using a Global VAR model, which incorporates trade and financial linkages among economies, as well as the role of regional and global demand and inflationary spillovers. We find that in the past 25 years, the main drivers of inflation have been domestic supply shocks and shocks to exchange rate and monetary variables; but that, in recent years, the contribution of these shocks to inflation has fallen. Domestic demand pressures as well as global shocks, and particularly shocks to output, however, have played a larger role in driving inflation over the last decade. We also show that country characteristics matter—the extent of oil and food imports, vulnerability to weather shocks, economic importance of agriculture, trade openness and policy regime, among others, help in explaining the role of shocks.

Electronic Resources:
http://hdl.library.upenn.edu/1017.12/1522483

ISBNPlus ID: UPE.BD102.22213-11-2209253
Form: Nonfiction
Released Date: 20151203

Download BiBTeX of this book (.bib)
@book{isbnplus9781513583013,
 title={On The Drivers Of Inflation In Sub-Saharan Africa},
 author={Anh D. M Nguyen and Jemma Dridi and D. Filiz Unsal and Oral Williams},
 isbn={9781513583013},
 series={IMF Working Papers: Working Paper No. 15/189},
 url={http://isbnplus.org/9781513583013},
 year={2015},
 publisher={International Monetary Fund},
 address={Washington, D.C.}
}
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%0 Book
%T On The Drivers Of Inflation In Sub-Saharan Africa
%A Anh D. M Nguyen
%A Jemma Dridi
%A D. Filiz Unsal
%A Oral Williams
%@ 9781513583013
%U http://isbnplus.org/9781513583013
%D 2015
%I International Monetary Fund
%C Washington, D.C.
Download 9781513583013.enw
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TY  - BOOK
T1  - On The Drivers Of Inflation In Sub-Saharan Africa
A1  - Anh D. M Nguyen
A1  - Jemma Dridi
A1  - D. Filiz Unsal
A1  - Oral Williams
SN  - 9781513583013
T3  - IMF Working Papers: Working Paper No. 15/189
UR  - http://isbnplus.org/9781513583013
Y1  - 2015
PB  - International Monetary Fund
CY  - Washington, D.C.
ER  - 
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APA Style:
Nguyen, A.D.M., Dridi, J., Unsal, D.F. & Williams, O. (2015). On The Drivers Of Inflation In Sub-Saharan Africa. Washington, D.C.: International Monetary Fund.

MLA Style:
Nguyen, Anh D. M, Jemma Dridi, D. Filiz Unsal, and Oral Williams. On The Drivers Of Inflation In Sub-Saharan Africa. Washington, D.C.: International Monetary Fund, 2015. Print.

Chicago Style:
Nguyen, Anh D. M, Jemma Dridi, D. Filiz Unsal, and Oral Williams. On The Drivers Of Inflation In Sub-Saharan Africa. Washington, D.C.: International Monetary Fund, 2015.