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The Impact of High Oil Prices on African Economies

Economic Research Working Paper No 93 (December 2007)
(published by the African Development Bank)

Abstract: On the one hand the high price of oil is a unique opportunity for African oil producers to use the windfall gains to speed up their development. On the other hand, it is having adverse effects on  net-oil importing countries, in particular those which cannot access international capital markets  to smooth out the shock. We construct a dynamic stochastic general equilibrium model, which is  tailored to reflect the characteristics of African economies, to quantify the effect of the increase  in the price of oil on the main macro economic aggregates...

Posted by on 07 July 2008 in Economics, Energy |

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