Authors :
WillyNOUMESSI FODJOU; Armand Gilbert NOULA; Juliette MEVAMBA-CHEKEM
Volume/Issue :
Volume 6 - 2021, Issue 6 - June
Google Scholar :
http://bitly.ws/9nMw
Scribd :
https://bit.ly/3qAUqpB
Abstract :
This paper examines the macroeconomic
factors related to economic structure and institutions that
are most important for economic resilience in order to
guide future policy actions. This is done through
econometric analysis by assessing the absorptive capacity
of common shocks for sub-Saharan African countries.
The results suggest that factors related to economic
structure appear to be the most important. These include
exchange rates, terms of trade, trade openness, foreign
direct investment and financial development. Institutional
factors such as government stability and reduced social
conflict increase the absorptive capacity to shocks. These
findings reiterate the need to identify and vigorously
pursue macroeconomic policies and structural reforms
Keywords :
Economic Resilience, Generalized Methods of Moments, Shocs, Structural Factors, Sub-Saharan Africa
This paper examines the macroeconomic
factors related to economic structure and institutions that
are most important for economic resilience in order to
guide future policy actions. This is done through
econometric analysis by assessing the absorptive capacity
of common shocks for sub-Saharan African countries.
The results suggest that factors related to economic
structure appear to be the most important. These include
exchange rates, terms of trade, trade openness, foreign
direct investment and financial development. Institutional
factors such as government stability and reduced social
conflict increase the absorptive capacity to shocks. These
findings reiterate the need to identify and vigorously
pursue macroeconomic policies and structural reforms
Keywords :
Economic Resilience, Generalized Methods of Moments, Shocs, Structural Factors, Sub-Saharan Africa
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