| Description |
1 online resource (34 pages) : color illustrations |
| Series |
IMF working paper, 1018-5941 ; WP/15/40 |
|
IMF working paper ; WP/15/40.
|
| Contents |
Cover Page; Title Page; Copyright Page; Contents; List of figures; List of tables; 1. Introduction; 2. Background on Macroeconomic Conditions in Ghana; 1. Selected Macroeconomic indicators for Ghana (YoY percent); 2. Exchange Rates and International Reserves (YoY percent); 3. Methodology; 3.1 Bayesian Vector Auto-Regressive (BVAR) Model; 3.2 Credit and Productivity Shocks; 1. Data; 2. Identification Restrictions; 3.3 Commodity Price Shocks; 4. Empirical Results; 4.1 Global Shocks and Fluctuations in Ghana and South Africa; 3. G7 Credit Shocks; 4. G7 Productivity Shocks |
|
4.2 Domestic Shocks and Fluctuations in Ghana and South Africa5. Domestic Credit Shocks; 6. Domestic Productivity Shocks; 4.3 Commodity Price Shocks; 7. Commodity Price Shocks; 4.4 Variance Decomposition Analysis; 3. Variance Decomposition for Credit and Productivity Shocks; 4. Variance Decomposition for Commodity Price Shocks; 5. Conclusions; 5. Data used in the Nowcasting; Footnotes |
| Summary |
We examine the role of global and domestic shocks in driving macroeconomic fluctuations for Ghana. We are able to study the impact of exogenous shocks including productivity, credit supply, and commodity price shocks. We identify the shocks with a combination of sign and recursive restrictions within Bayesian VAR models. As a benchmark we provide results for South Africa to document the difference between two economies with similar structures but different levels of development. We find that global shocks play a more dominant role in South Africa than in Ghana. These shocks operate through three channels: trade, credit and commodity prices.--Abstract |
| Notes |
"February 2015." |
|
"Research Department and Strategy, Policy, and Review Department." |
| Bibliography |
Includes bibliographical references (pages 14-16) |
| Notes |
Online resource; title from pdf title page (IMF.org Web site, viewed February 26, 2015) |
| Subject |
Externalities (Economics)
|
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Financial crises -- Ghana
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Business cycles -- Ghana
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Economic stabilization -- Ghana
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Financial crises -- South Africa
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Business cycles -- South Africa
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Economic stabilization -- South Africa
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Business cycles
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Economic policy
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Economic stabilization
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Externalities (Economics)
|
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Financial crises
|
| SUBJECT |
Ghana -- Economic policy
|
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South Africa -- Economic policy
|
| Subject |
Ghana
|
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South Africa
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| Form |
Electronic book
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| Author |
Mohimont, Jolan.
|
|
Otrok, Christopher.
|
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International Monetary Fund. Research Department.
|
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International Monetary Fund. Strategy, Policy, and Review Department.
|
| ISBN |
9781484388198 |
|
1484388194 |
|
1498310141 |
|
9781498310147 |
|
9781498346924 |
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1498346928 |
|
