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Trade Shocks and Macroeconomic Performance in Non- UEMOA Countries

Author

Listed:
  • Kordzo Sedegah

    (Pretoria, South Africa)

  • Nicholas M. Odhiambo

    (Pretoria, South Africa)

  • Simplice A. Asongu

    (Pretoria, South Africa)

Abstract

This present study examines how commodity terms of trade (CTOT) influence economic performance in the proposed West African Monetary Zone (WAMZ) or non-UEMOA countries using data from 2000 to 2021. To make the assessment, PVAR, Granger causality and impulse-response functions analyses are employed. The analyses are tailored such that economic performance is viewed in terms of unemployment, inflation, and real output. The following main findings are established. CTOT negatively affect inflation though the effect is not very significant. CTOT shocks positively and negatively affect real output and unemployment, respectively. Policy implications are discussed.

Suggested Citation

  • Kordzo Sedegah & Nicholas M. Odhiambo & Simplice A. Asongu, 2025. "Trade Shocks and Macroeconomic Performance in Non- UEMOA Countries," Working Papers of the African Governance and Development Institute. 25/039, African Governance and Development Institute..
    • Handle: RePEc:agd:wpaper:25/039
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    Keywords

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    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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