The sources of macroeconomic fluctuations in sub-Saharan Africa are examined by comparing the CFA franc countries with the non-CFA franc countries. External shocks, especially in terms of trade shocks, appear to have a greater influence on fluctuations of output and the real exchange rate in CFA franc countries. This result does not appear to be associated with differences in the economic structure, but may reflect the fixed exchange rate regime, which does not (particularly) buffer these countries from external shocks. Macroeconomic fluctuations in non-CFA franc countries are similar to those in other developing countries, particularly Latin America. Copyright 1998, International Monetary Fund
In order to set up a list of libraries that you have access to,
you must first login
or sign up.
Then set up a personal list of libraries from your profile page by
clicking on your user name at the top right of any screen.