Oil price volatility and macroeconomic performance in nonoil exporting countries in Sub-Saharan Africa
Oil price volatility and macroeconomic performance in nonoil exporting countries in Sub-Saharan Africa
This paper examines the impact of oil price volatility on macroeconomic performance in fourteen non-oil exporting Sub-Saharan Africa (SSA) economies using panel ARDL model for the period 1980-2015. It also looks at the channels through which oil price volatility transmit to the three major sectors of their economies. The panel ARDL estimate indicates how persistent oil price volatility prevailed on the economy by measuring the short run and long run effects.