Global Financial Transmission into Sub-Saharan Africa: A Global Vector Autoregression Analysis
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 cond...
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C
International Monetary Fund
2014
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| Series: | IMF Working Papers: Working Paper No. 14 / 241
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| Online Access: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| 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 |
| Physical Description: | 1 Online-Ressource (29 p) |
| ISBN: | 1498305059 9781498305051 |
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| index_date | 2024-07-03T20:13:36Z |
| indexdate | 2024-07-10T09:35:46Z |
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| record_format | marc |
| series2 | IMF Working Papers: Working Paper No. 14 / 241 |
| spelling | Canales Kriljenko, Jorge Iv�n Verfasser aut Global Financial Transmission into Sub-Saharan Africa A Global Vector Autoregression Analysis Canales Kriljenko, Jorge Iv�n Washington, D.C International Monetary Fund 2014 1 Online-Ressource (29 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers: Working Paper No. 14 / 241 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 Online-Ausg Hosseinkouchack, Mehdi Sonstige oth Meyer-Cirkel, Alexis Sonstige oth http://elibrary.imf.org/view/IMF001/22229-9781498305051/22229-9781498305051/22229-9781498305051.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Canales Kriljenko, Jorge Iv�n Global Financial Transmission into Sub-Saharan Africa A Global Vector Autoregression Analysis |
| title | Global Financial Transmission into Sub-Saharan Africa A Global Vector Autoregression Analysis |
| title_auth | Global Financial Transmission into Sub-Saharan Africa A Global Vector Autoregression Analysis |
| title_exact_search | Global Financial Transmission into Sub-Saharan Africa A Global Vector Autoregression Analysis |
| title_exact_search_txtP | Global Financial Transmission into Sub-Saharan Africa A Global Vector Autoregression Analysis |
| title_full | Global Financial Transmission into Sub-Saharan Africa A Global Vector Autoregression Analysis Canales Kriljenko, Jorge Iv�n |
| title_fullStr | Global Financial Transmission into Sub-Saharan Africa A Global Vector Autoregression Analysis Canales Kriljenko, Jorge Iv�n |
| title_full_unstemmed | Global Financial Transmission into Sub-Saharan Africa A Global Vector Autoregression Analysis Canales Kriljenko, Jorge Iv�n |
| title_short | Global Financial Transmission into Sub-Saharan Africa |
| title_sort | global financial transmission into sub saharan africa a global vector autoregression analysis |
| title_sub | A Global Vector Autoregression Analysis |
| url | http://elibrary.imf.org/view/IMF001/22229-9781498305051/22229-9781498305051/22229-9781498305051.xml |
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