Regional Impact of Cote D'Ivoire'S Sociopolitical Crisis: An Assessment
April 1, 2003
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Summary
This paper evaluates the impact of the sociopolitical crisis in Côte d'Ivoire on the economies of its neighbors. Using a nonsubjective weighted index of regional instability in cross-country time-series regressions, it shows that the increase in regional instability caused by domestic instability in Côte d'Ivoire had a negative effect on the growth performance of its most direct neighbors, but no significant effect on the subregion as a whole including the West African Economic and Monetary Union (WAEMU). The paper also examines the channels through which such spillover effects took place.
Subject: Balance of payments, Expenditure, Exports, Foreign direct investment, Imports, International trade, National accounts, Private investment
Keywords: Africa, Contagion, Côte d'Ivoire, Côte d'Ivoire's index, country, country authorities' estimate, Economic Growth, Exports, Foreign direct investment, growth rate, Imports, instability index, landlocked country, neighboring country, Private investment, Regional Integration, Regressions, sociopolitical crisis, WAEMU country, West Africa, West African country, WP
Pages:
36
Volume:
2003
DOI:
Issue:
085
Series:
Working Paper No. 2003/085
Stock No:
WPIEA0852003
ISBN:
9781451850772
ISSN:
1018-5941
