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Business Cycle Transmission Between Madagascar, Seychelles,and Their Major Economic Partners

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  • Ivohasina Fizara Razafimahefa
  • Shigeyuki Hamori

Abstract

This paper empirically analyzes the business cycle transmission between the two African countries and their largest economic partners. The empirical results show that business cycles in France, the United Kingdom, and the United States induce the economic fluctuations in Madagascar and Seychelles. The findings of the study confirm the proposition that the business cycles of large economies drive those of the small economies.

Suggested Citation

  • Ivohasina Fizara Razafimahefa & Shigeyuki Hamori, 2009. "Business Cycle Transmission Between Madagascar, Seychelles,and Their Major Economic Partners," The IUP Journal of Applied Economics, IUP Publications, vol. 0(1), pages 7-19, January.
    • Handle: RePEc:icf:icfjae:v:08:y:2008:i:1:p:7-19
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