This paper presents a model of fiscal dominance with borrowing constraints and provides new evidence for a large number of Sub-Saharan African countries on the relative importance of fiscal and monetary determinants of inflation. Based on different empirical tests, results show that half of the...

This paper analyses inflation dynamics in the Central African Economic and Monetary Community (CEMAC) using a constructed dataset for country-specific commodity price indices and panel cointegrated vector autoregressive models. Imported commodity price shocks are significant in explaining...