Spillover Effects and the East African Community: Explaining the Slowdown and the Recovery

December 15, 2009

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Spillover Effects and the East African Community: Explaining the Slowdown and the Recovery, (USA: International Monetary Fund, 2009) accessed March 27, 2025

Summary

The East African Community (EAC) countries (Kenya, Tanzania, Uganda, and Rwanda) have been affected by the global financial crisis and global recession. The fall in global demand and inflows and tighter liquidity conditions abroad affected the countries in this region as elsewhere in sub-Saharan Africa. But how hard have countries in the EAC been hit? Have the spillovers from the global crisis affected countries in the region as much as other countries in the sub-Saharan region? Have the transmission channels or magnitudes of the spillovers been different across EAC countries? How can these countries return quickly to a path of sustained high growth? What is the role for policy? Would acceleration of regional integration and policy coordination help achieve this goal? Would it make the region less susceptible to shocks? This paper focus on the EAC countries and attempts to address these questions.

Subject: Exports, Financial sector policy and analysis, Fiscal policy, Fiscal stance, Fiscal stimulus, International trade, Oil prices, Prices, Spillovers

Keywords: Africa, DP, DPPP, EAC country, EAC cycle, EAC economy, EAC growth, EAC region, Exports, Fiscal policy, Fiscal stance, Fiscal stimulus, Global, Kenya, Oil price shock, Oil prices, Spillovers, Sub-Saharan Africa, Uganda

Publication Details

Pages:

33
Volume:

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DOI:

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Issue:

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Series:

Departmental Paper No. 2009/005
Stock No:

SEEACEA
ISBN:

9781455245161
ISSN:

2616-5333

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