Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/72689
Authors: 
Jumah, Adusei
Kunst, Robert M.
Year of Publication: 
2007
Series/Report no.: 
Reihe Ökonomie / Economics Series, Institut für Höhere Studien (IHS) 219
Abstract: 
We verify whether cocoa prices could be a source of inflation in five countries of the West African region within a framework that includes other variables such as migrant remittances to the region and a fiscal policy variable represented by the government budget deficit. Unlike earlier studies that explicitly use money supply variables, the inclusion of migrant remittances enables us to examine the effect of an international capital flow variable on inflation. The results reveal that the influence of cocoa prices on consumer price inflation is strong and statistically significant. The influence of the budget deficit and the flow of migrant remittance variables on inflation are, however, weak.
Subjects: 
inflation
West Africa
cocoa
budget deficits
remittances
JEL: 
C5
E31
Document Type: 
Working Paper

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