Spillover Effects and the East African Community [electronic resource] : Explaining the Slowdown and the Recovery.

International Monetary Fund.
Washington, D.C. : International Monetary Fund, 2009.
IMF eLibrary
Government document
1 online resource (33 p.)
Local subjects:
Access to market. (search)
Capital flows. (search)
Capital inflows. (search)
Commodity prices. (search)
Domestic demand. (search)
Economic conditions. (search)
Economic growth. (search)
Economic integration. (search)
Exchange rate movements. (search)
Exchange rate policy. (search)
Expansionary fiscal. (search)
Expenditure growth. (search)
Export prices. (search)
External environment. (search)
External shocks. (search)
Financial crisis. (search)
Fiscal balance. (search)
Fiscal deficits. (search)
Fiscal impulse. (search)
Fiscal policy. (search)
Fiscal space. (search)
Fiscal spending. (search)
Fiscal stances. (search)
Fiscal stimulus. (search)
Foreign asset. (search)
Foreign assets. (search)
Gdp growth. (search)
Global financial crisis. (search)
Global recession. (search)
Growth rate. (search)
Growth rates. (search)
International financial. (search)
International financial statistics. (search)
National income. (search)
Net capital. (search)
Net capital flows. (search)
Net exports. (search)
Non-tariff barriers. (search)
Oil imports. (search)
Oil prices. (search)
Output growth. (search)
Partner countries. (search)
Political economy. (search)
Private capital. (search)
Private capital flows. (search)
Private flows. (search)
Real gdp. (search)
Recession. (search)
Regional integration. (search)
Spillovers. (search)
Stock market. (search)
Tariff barriers. (search)
Tax policy. (search)
Tax revenues. (search)
Terms of trade. (search)
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Trading partner. (search)
Trading partners. (search)
World economy. (search)
World growth. (search)
World output. (search)
World trade. (search)
Kenya. (search)
Rwanda. (search)
Tanzania. (search)
Uganda. (search)
The East African Community (EAC) countries—Kenya, Tanzania, Uganda, and Rwanda—have been affected by the global financial crisis and global recession. The fall in global demand and inflows and tighter liquidity conditions abroad affected the countries in this region as elsewhere in sub-Saharan Africa. But how hard have countries in the EAC been hit? Have the spillovers from the global crisis affected countries in the region as much as other countries in the sub-Saharan region? Have the transmission channels or magnitudes of the spillovers been different across EAC countries? How can these countries return quickly to a path of sustained high growth? What is the role for policy? Would acceleration of regional integration and policy coordination help achieve this goal? Would it make the region less susceptible to shocks? This paper focus on the EAC countries and attempts to address these questions.
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