Regional Growth Spillovers in Sub-Saharan Africa

By Francisco Arizala, Matthieu Bellon, Margaux MacDonald

July 24, 2019

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Format: Chicago

Francisco Arizala, Matthieu Bellon, and Margaux MacDonald. Regional Growth Spillovers in Sub-Saharan Africa, (USA: International Monetary Fund, 2019) accessed November 21, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

This paper documents the steady increase in intraregional trade in sub-Saharan Africa since 1980, links this rise to important growth spillovers in the region, and identifies the main source countries and those most vulnerable to the economic conditions of others. Estimates show that in the short run, positive idiosyncratic shocks to regional trading partners’ growth significantly increase growth in the average sub-Saharan African country, while in the long-run the annual impact of growth in regional trading partner’s is smaller in magnitude. Policy implications including the need to support further continent-wide integration and the associated growth spillovers are discussed. Actions policymakers in sub-Saharan Africa can take to capture the benefits of these spillovers, while limiting exposure to the associated risks, are also proposed.

Subject: Direction of trade, Exports, Financial sector policy and analysis, Imports, International trade, Regional trade, Spillovers

Keywords: A. Intraregional trade linkage, Africa, Direction of trade, Exports, Global, Growth, IMF staff calculation, Imports, North Africa, Real GDP, Regional Integration, Regional trade, Spillovers, Statistics database, Sub-Saharan Africa, Sub-Saharan Africa country, Sub-Saharan Africa real GDP growth, Sub-Saharan Africa shock, Sub-Saharan Africa spillover, WP

Publication Details

Pages:

29
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2019/160
Stock No:

WPIEA2019160
ISBN:

9781498320498
ISSN:

1018-5941

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