A Politico-economic Model for Stabilisation in Africa
It is now widely accepted that stabilization plans cannot be drawn up without taking potential political reactions into consideration. We develop a simple macroeconometric model, which describes interactions between economic and political variables, using data from twenty-three African countries for the 1980s. The results clearly suggest that there are important links between political and economic spheres. Economic policies affect the political situation and socio-political reactions influence economic activity and feedback to economic policies. We conclude that incorporating socio-political reactions in the design of economic policies can help establish more efficient stabilization programs. Copyright 1998 by Oxford University Press.
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Volume (Year): 7 (1998)
Issue (Month): 1 (March)
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