IDEAS home Printed from https://ideas.repec.org/a/tou/journl/v54y2021p161-175.html
   My bibliography  Save this article

Effets des prix relatifs des échanges sur la croissance économique en Afrique subsaharienne

Author

Listed:
  • Irifaar SOMÉ

    (Université Norbert Zongo, Koudougou, Burkina Faso)

  • Windkouni Haoua Eugenie MAIGA

    (Université Norbert Zongo, Koudougou, Burkina Faso)

Abstract

Cet article cherche à évaluer les effets de l’évolution des prix relatifs des échanges sur la croissance économique pour 34 pays d’Afrique subsaharienne sur la période 1993-2018. Pour ce faire, nous avons pris en compte la tendance des termes de l’échange et leur va-riabilité. Les résultats des estimations économétriques en panel dynamique, notamment à partir du modèle ARDL (AutoRegressive Distributed Lag), montrent qu’une amélioration tendancielle des termes de l’échange exerce un effet favorable sur la croissance écono-mique en comparant de manière générale les pays d’Afrique subsaharienne, alors qu’une grande variabilité agit en sens inverse.

Suggested Citation

  • Irifaar SOMÉ & Windkouni Haoua Eugenie MAIGA, 2021. "Effets des prix relatifs des échanges sur la croissance économique en Afrique subsaharienne," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 54, pages 161-175.
    • Handle: RePEc:tou:journl:v:54:y:2021:p:161-175
    as

    Download full text from publisher

    File URL: https://regionetdeveloppement.univ-tln.fr/wp-content/uploads/9_Some-formate.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Guillermo A. Calvo & Enrique G. Mendoza, 1994. "Trade Reforms of Uncertain Duration and Real Uncertainty: A First Approximation," IMF Staff Papers, Palgrave Macmillan, vol. 41(4), pages 555-586, December.
    2. Mendoza, Enrique G, 1995. "The Terms of Trade, the Real Exchange Rate, and Economic Fluctuations," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 36(1), pages 101-137, February.
    3. Easterly, William & Kremer, Michael & Pritchett, Lant & Summers, Lawrence H., 1993. "Good policy or good luck?: Country growth performance and temporary shocks," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 459-483, December.
    4. Mr. Willy A Hoffmaister & Mr. Jorge Roldos, 1997. "Are Business Cycles Different in Asia and Latin America?," IMF Working Papers 1997/009, International Monetary Fund.
    5. Augustin Kwasi Fosu, 2001. "The Global Setting and African Economic Growth," Journal of African Economies, Centre for the Study of African Economies, vol. 10(3), pages 282-310.
    6. Williamson, Jeffrey G, 1997. "Globalization and Inequality, Past and Present," The World Bank Research Observer, World Bank, vol. 12(2), pages 117-135, August.
    7. Tiago V. De V. Cavalcanti & Kamiar Mohaddes & Mehdi Raissi, 2015. "Commodity Price Volatility and the Sources of Growth," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 30(6), pages 857-873, September.
    8. Collier, Paul & Goderis, Benedikt, 2012. "Commodity prices and growth: An empirical investigation," European Economic Review, Elsevier, vol. 56(6), pages 1241-1260.
    9. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July.
    10. Kose, M. Ayhan, 2002. "Explaining business cycles in small open economies: 'How much do world prices matter?'," Journal of International Economics, Elsevier, vol. 56(2), pages 299-327, March.
    11. Dan Andrews & Daniel Rees, 2009. "Macroeconomic Volatility and Terms of Trade Shocks," RBA Research Discussion Papers rdp2009-05, Reserve Bank of Australia.
    12. Baland, Jean-Marie & Francois, Patrick, 2000. "Rent-seeking and resource booms," Journal of Development Economics, Elsevier, vol. 61(2), pages 527-542, April.
    13. Chudik, Alexander & Pesaran, M. Hashem, 2015. "Common correlated effects estimation of heterogeneous dynamic panel data models with weakly exogenous regressors," Journal of Econometrics, Elsevier, vol. 188(2), pages 393-420.
    14. Broda, Christian, 2004. "Terms of trade and exchange rate regimes in developing countries," Journal of International Economics, Elsevier, vol. 63(1), pages 31-58, May.
    15. Frederick van der Ploeg & Steven Poelhekke, 2009. "Volatility and the natural resource curse," Oxford Economic Papers, Oxford University Press, vol. 61(4), pages 727-760, October.
    16. Enrique Alberola-Ila & Rocío Gondo & Marco Jacopo Lombardi & Diego Urbina, 2016. "Output gaps and policy stabilisation in Latin America: the effect of commodity and capital flow cycles," BIS Working Papers 568, Bank for International Settlements.
    17. Stephanie Schmitt†Grohé & Martín Uribe, 2018. "How Important Are Terms†Of†Trade Shocks?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 59(1), pages 85-111, February.
    18. Bela Balassa, 1964. "The Purchasing-Power Parity Doctrine: A Reappraisal," Journal of Political Economy, University of Chicago Press, vol. 72(6), pages 584-584.
    19. Ghura, Dhaneshwar & Grennes, Thomas J., 1993. "The real exchange rate and macroeconomic performance in Sub-Saharan Africa," Journal of Development Economics, Elsevier, vol. 42(1), pages 155-174, October.
    20. Bleaney, Michael & Greenaway, David, 2001. "The impact of terms of trade and real exchange rate volatility on investment and growth in sub-Saharan Africa," Journal of Development Economics, Elsevier, vol. 65(2), pages 491-500, August.
    21. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alarcon Gambarte, Samuel, 2019. "Shocks de precios internacionales bajo incertidumbre estocástica [International Prices Shocks under Stochastic Uncertainty]," MPRA Paper 97116, University Library of Munich, Germany.
    2. Hem C. Basnet & Satis C. Devkota & Mukti P. Upadhyay, 2021. "Terms of trade and real domestic income: New evidence from South and Southeast Asia," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 4315-4331, July.
    3. Sinem Pınar Gürel & Aykut Lenger, 2016. "The Nonlinear Analysis of External Dynamics on Economic Growth: The Case of Turkey," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 9(1), pages 57-68, April.
    4. Tii N. Nchofoung, 2022. "Trade shocks and labour market resilience in Sub-Saharan Africa: Does the franc zone response differently?," International Economics, CEPII research center, issue 169, pages 161-174.
    5. Tony Addison & Atanu Ghoshray & Michalis P. Stamatogiannis, 2016. "Agricultural Commodity Price Shocks and Their Effect on Growth in Sub-Saharan Africa," Journal of Agricultural Economics, Wiley Blackwell, vol. 67(1), pages 47-61, February.
    6. Sèna Kimm Gnangnon, 2021. "Exchange rate pressure, fiscal redistribution and poverty in developing countries," Economic Change and Restructuring, Springer, vol. 54(4), pages 1173-1203, November.
    7. Jorge Toro & Aarón Garavito & David Camilo López & Enrique Montes, 2015. "El choque petrolero y sus implicaciones en la economía colombiana," Borradores de Economia 906, Banco de la Republica de Colombia.
    8. Alfredo Villca & Alejandro Torres-García, 2023. "Commodity price shocks and the business cycles in emerging economies: the role of banking system balance sheets," Empirical Economics, Springer, vol. 65(5), pages 2039-2063, November.
    9. Tony Addison & Atanu Ghoshray & Michalis P. Stamatogiannis, 2016. "Agricultural Commodity Price Shocks and Their Effect on Growth in Sub-Saharan Africa," Journal of Agricultural Economics, Wiley Blackwell, vol. 67(1), pages 47-61, February.
    10. Patricia Gómez-González & Daniel Rees, 2013. "Stochastic Terms of Trade Volatility in Small Open Economies," RBA Research Discussion Papers rdp2013-10, Reserve Bank of Australia.
    11. Romain Houssa & Jolan Mohimont & Chris Otrok, 2019. "A model for international spillovers to emerging markets," Working Paper Research 370, National Bank of Belgium.
    12. Camilo Alberto Cárdenas-Hurtado & Aaron Levi Garavito-Acosta & Jorge Hernán Toro-Córdoba, 2018. "Asymmetric Effects of Terms of Trade Shocks on Tradable and Non-tradable Investment Rates: The Colombian Case," Borradores de Economia 1043, Banco de la Republica de Colombia.
    13. Salim B. Furth, 2010. "Terms of Trade Volatility and Precautionary Savings in Developing Economies," DEGIT Conference Papers c015_013, DEGIT, Dynamics, Economic Growth, and International Trade.
    14. Romain Houssa & Jolan Mohimont & Christopher Otrok, 2015. "Sources of Business Cycles in a Low Income Country," Pacific Economic Review, Wiley Blackwell, vol. 20(1), pages 125-148, February.
    15. Villca, Alfredo, 2022. "Commodity prices, bank balance sheets and macroprudential policies in small open economies," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 3(1).
    16. Eberhardt, Markus & Presbitero, Andrea F., 2021. "Commodity prices and banking crises," Journal of International Economics, Elsevier, vol. 131(C).
    17. Bernard Njindan Iyke, 2018. "The real effect of currency misalignment on productivity growth: evidence from middle-income economies," Empirical Economics, Springer, vol. 55(4), pages 1637-1659, December.
    18. Mohaddes, Kamiar & Raissi, Mehdi, 2017. "Do sovereign wealth funds dampen the negative effects of commodity price volatility?," Journal of Commodity Markets, Elsevier, vol. 8(C), pages 18-27.
    19. Gabriel Rodriguez & Paul Castillo B. & Junior A. Ojeda Cunya, 2024. "Time-Varying Effects of External Shocks on Macroeconomic Fluctuations in Peru: An Empirical Application using TVP-VAR-SV Models," Open Economies Review, Springer, vol. 35(5), pages 1015-1050, November.
    20. Pierre JACQUET & Alexis ATLANI & Marwan LISSER, 2017. "Policy responses to terms of trade shocks," Working Papers P205, FERDI.

    More about this item

    Keywords

    Afrique subsaharienne ; Prix relatifs des échanges ; Termes de l’échange ; Croissance économique;
    All these keywords.

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tou:journl:v:54:y:2021:p:161-175. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Christophe Van Huffel (email available below). General contact details of provider: https://edirc.repec.org/data/letlnfr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.