Paper Title :Oil Price Shocks and Economic Performance in Africa’s Oil Exporting Countries

Author :Mathew Ekundayo Rotimi, Harold Ngalawa

Article Citation :Mathew Ekundayo Rotimi ,Harold Ngalawa , (2018 ) " Oil Price Shocks and Economic Performance in Africa’s Oil Exporting Countries " , International Journal of Management and Applied Science (IJMAS) , pp. 39-48, Volume-4,Issue-9

Abstract : This study adopted the Panel Structural Vector Autoregressives (PSVAR) estimating technique to empirically assess the transmission processes of oil price shocks and how they impact on economic performance within the monetary framework of the Africa’s net oil exporting economies. The study considered, among other variables, inflation, money supply, bank rate, exchange rate, gross domestic product, unemployment and oil price shocks. The study treated oil price shocks as exogenous while other variables considered as endogenous variables. The period covered in the study is 1980- 2015. The analysis of the data revealed that there were significant responses to oil price shocks during this period. The result of the study showed that oil price shocks have large impact on the economic performance of Africa’s oil exporting countries and that transmission of oil price ensues monetary medium. Hence, the study suggests that strong monetary control measure should be put in place whenever positive shocks in oil are experienced. Keywords- Oil Price Shocks; Economic Performance; Panel SVAR, Oil Exporting. JEL Classification: Q43, B22, F62

Type : Research paper

Published : Volume-4,Issue-9

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