Inflation in the West African Countries: The Impact of Cocoa Prices, Budget Deficits, and Migrant Remittances

Jumah, Adusei and Kunst, Robert M. (October 2007) Inflation in the West African Countries: The Impact of Cocoa Prices, Budget Deficits, and Migrant Remittances. IHS Economics Series 219

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Abstract or Table of Contents

Abstract: We verify whether cocoa prices could be a source of inflation in five countries of the West African region within a framework that includes other variables such as migrant remittances to the region and a fiscal policy variable represented by the government budget deficit. Unlike earlier studies that explicitly use money supply variables, the inclusion of migrant remittances enables us to examine the effect of an international capital flow variable on inflation. The results reveal thatthe influence of cocoa prices on consumer price inflation is strong and statistically significant. The influence of the budget deficit and the flow of migrant remittance variables on inflation are, however, weak.;

Item Type: IHS Series
Keywords: 'Inflation' 'West Africa' 'Cocoa' 'Budget deficits' 'Remittances'
Classification Codes (e.g. JEL): C5, E31
Status: Published
Date Deposited: 26 Sep 2014 10:38
Last Modified: 22 Jul 2017 18:22
URI: http://irihs.ihs.ac.at/id/eprint/1803

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