Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/93685
Authors: 
Addison, Tony
Ghoshray, Atanu
Year of Publication: 
2013
Series/Report no.: 
WIDER Working Paper 2013/098
Abstract: 
Commodity price shocks are an important type of external shock and are often cited as a problem for economic growth in sub-Saharan Africa. This paper quantifies the impact of agricultural commodity price shocks using a near vector autoregressive model. The novel aspect of this model is that we define an auxiliary variable that can potentially capture the definition of a price shock that allows us to determine whether the response of per capita Gross domestic product (GDP) growth in sub-Saharan Africa to these price shocks is asymmetric. We find that there is evidence of such asymmetric responses to commodity price shocks.
Subjects: 
commodity prices
external shocks
price shocks
economic growth
aid flows
JEL: 
E30
F40
O11
Document Type: 
Working Paper

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