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The macroeconomy of Angola: breaks and persistence in Angolan macro data

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  • Carlos P. Barros
  • Luis A. Gil-Alana
  • João Ricardo Faria

Abstract

Using long-range dependence techniques we examine the order of integration of Angola's macro variables from a fractional viewpoint. Based on a small open economy model, the series examined are money reserves, credit, money supply, lending rate, exchange rates, CPI, GDP, oil revenues and government expenditure, for the period of January 2000 to December 2013. The results suggest that the variables are nonstationary with orders of integration equal to or higher than 1 suggesting nonmean-reverting behaviour. Structural breaks reveal that the series reflect the IMF intervention in Angola in 2003 to control inflation. Policy implications are derived.

Suggested Citation

  • Carlos P. Barros & Luis A. Gil-Alana & João Ricardo Faria, 2015. "The macroeconomy of Angola: breaks and persistence in Angolan macro data," Applied Economics, Taylor & Francis Journals, vol. 47(27), pages 2783-2802, June.
    • Handle: RePEc:taf:applec:v:47:y:2015:i:27:p:2783-2802
    DOI: 10.1080/00036846.2014.997928
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    References listed on IDEAS

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    1. Chhibber, Ajay & Cottani, Joaquin & Firuzabadi, Reza & Walton, Michael, 1989. "Inflation, price controls, and fiscal adjustment in Zimbabwe," Policy Research Working Paper Series 192, The World Bank.
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    Cited by:

    1. Carlos Pestana Barros & Otavio Henrique dos Santos Figueiredo & Peter Fernades Wanke, 2016. "Peasants’ Poverty and Inequality in Angola," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 128(2), pages 751-761, September.
    2. C. P. Barros & O. H. dos S. Figueiredo & Silvestre Dumbo, 2016. "A performance assessment of the Angolan soccer league," Applied Economics, Taylor & Francis Journals, vol. 48(29), pages 2711-2720, June.

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