Comparative Macroeconomic Dynamics in the Arab World : A Panel Var Approach

Author/Editor:

Alexei P Kireyev

Publication Date:

March 1, 2000

Electronic Access:

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Summary:

The paper presents a comparative analysis of macroeconomic dynamics of 18 Arab countries based on a panel vector autogression estimation. Comparing growth performance, fiscal and current account developments in these countries, the study concludes that (1) in the short run, external and country-specific factors play an almost equal role in explaining macroeconomic fluctuations, but in the long run external factors dominate; (2) on average, program countries are less vulnerable to adverse exogeneous shocks than nonprogram countries; (3) to mitigate the negative impact of an external shock, domestic policy response should be consistent with the size of the shock.

Series:

Working Paper No. 00/54

Subject:

English

Publication Date:

March 1, 2000

ISBN/ISSN:

9781451847505/1018-5941

Stock No:

WPIEA0542000

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

52

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