The policy response of many African commodity exporting economies to the slump in commodity prices after mid-2014 has been markedly different from that of commodity exporters elsewhere. First, few African countries allowed their currency to depreciate as much as other EMEs, for instance in Latin...

We study the effects of international monetary, income and prices shocks on domestic income through the external trade channel in 16 African countries between 1970 and 2012, using a SVAR Model. The results emphasize that domestic income is exposed to international shocks through the impacts of...