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Macroeconomic volatility, trade and financial liberalization in Africa
journal contribution
posted on 2017-12-06, 00:00 authored by Abdullahi AhmedAbdullahi Ahmed, S SuardiThis paper examines the effects of financial and trade liberalization on growth volatility of real output and consumption in Africa. Our results suggest trade liberalization is associated with greater output and consumption growth volatility while financial liberalization increases the efficacy of consumption smoothing and stabilizes income and consumption growth. In addition, we find financial market depth and institutional quality operate jointly with trade and financial openness to reduce volatility in output and consumption growth. There is also evidence that good institutions which foster low inflation levels and volatility promote consumption and output growth stability.
Funding
Category 1 - Australian Competitive Grants (this includes ARC, NHMRC)
History
Volume
37Issue
10Start Page
1623End Page
1636Number of Pages
14ISSN
0305-750XLocation
United KingdomPublisher
PergamonPublisher DOI
Full Text URL
Language
en-ausPeer Reviewed
- Yes
Open Access
- No
External Author Affiliations
La Trobe University; Victoria University of Technology;Era Eligible
- Yes