TY - BOOK ID - 84542253 TI - Terms of Trade Shocks in Africa : Are they Short-Lived or Long-Lived? AU - Cashin, Paul. AU - Pattillo, Catherine. PY - 2000 SN - 1462359078 1452717974 1281271489 1451895828 9786613778321 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Investments: Commodities KW - Exports and Imports KW - Macroeconomics KW - Time-Series Models KW - Dynamic Quantile Regressions KW - Dynamic Treatment Effect Models KW - Diffusion Processes KW - Open Economy Macroeconomics KW - Agriculture in International Trade KW - Empirical Studies of Trade KW - Commodity Markets KW - Trade: General KW - Price Level KW - Inflation KW - Deflation KW - International economics KW - Investment & securities KW - Terms of trade KW - Exports KW - Commodities KW - Commodity prices KW - Import prices KW - International trade KW - Prices KW - Imports KW - Economic policy KW - nternational cooperation KW - Commercial products KW - Congo, Democratic Republic of the KW - Nternational cooperation UR - https://www.unicat.be/uniCat?func=search&query=sysid:84542253 AB - This paper examines the persistence of shocks to the terms of trade, using annual data on 42 Sub-Saharan African countries between 1960-96. We find that the persistence of terms of trade shocks varies widely—for about half the countries such shocks are short-lived, while for one-third of the countries such shocks are long-lived. The countries experiencing long-lived terms of trade shocks are typically those that have large shares of petroleum imports in total imports, small shares of nonfuel commodity exports in total exports, and are highly concentrated in exportable commodities with long-lived price shocks. ER -