This paper examines the persistence of shocks to the terms of trade, using annual data on 42 Sub-Saharan African countries between 1960-96. We find that the persistence of terms of trade shocks varies widelyafor about half the countries such shocks are short-lived, while for one-third of the countries such shocks are long-lived. The countries experiencing long-lived terms of trade shocks are typically those that have large shares of petroleum imports in total imports, small shares of nonfuel commodity exports in total exports, and are highly concentrated in exportable commodities with long-lived price shocks.Persistence of Terms of Trade Shocksa Case Study of Uganda To explore the factors that the persistence of NBTT ... Ugandaa#39;s NBTT is disaggregated into the separate indicesof real export and import unit values, and then each of theseanbsp;...
|Title||:||Terms of Trade Shocks in Africa - Are They Short-Lived Or Long-Lived?|
|Author||:||Paul Cashin, Catherine A. Pattillo|
|Publisher||:||International Monetary Fund - 2000-03-01|