TY - BOOK ID - 84658423 TI - Rising BRICs and Changes in Sub-Saharan Africa’s Business Cycle Patterns AU - Diallo, Oumar. AU - Tapsoba, Sampawende. PY - 2014 SN - 1484306899 1484306759 1484307119 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Agriculture KW - Exports KW - International trade KW - Economic aspects KW - South Africa KW - Economic policy. KW - Foreign economic relations. KW - Exports and Imports KW - Macroeconomics KW - Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) KW - Trade Policy KW - International Trade Organizations KW - Empirical Studies of Trade KW - Trade: General KW - Economic growth KW - International economics KW - Business cycles KW - Trade balance KW - Plurilateral trade KW - Trade relations KW - Balance of trade KW - China, People's Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:84658423 AB - This paper assesses the extent to which Sub-Saharan Africa (SSA)’s business cycle is synchronized with that of the rest of the world (RoW). Findings suggest that SSA’s business cycle has not only moved in the same direction as that of the RoW, but has also gradually drifted away from the G7 in favour of the BRICs. Trade with the BRICs turns out to be the strongest driver of this shift. Much of this impact unfolds through aggregate demand impulse from trade. As fiscal policy stances in SSA and the BRICs are not synchronized, they have not caused cyclical output correlation between these two groups of countries. Also, financial openness, which is at a very early stage across most SSA countries, has acted as a neutral force. ER -