Macroeconomic Volatility and Macroeconomic Indicators among Sub-Saharan African Economies

Rexford Abaidoo


This study explored how disaggregated macroeconomic volatility parameters impact key macroeconomic indicators in Sub-Saharan Africa. The study employed a number of external and regional macroeconomic volatility parameters derived from macroeconomic data sourced from the IMF in its empirical analysis. Dynamic Panel fixed effect model employed show that regional macroeconomic volatility parameters tend to have more statistically significant impact (positive and negative) on performance indicators in the sub-region than external macroeconomic volatility parameters. This study also finds that among regional macroeconomic volatility parameters shaping growth conditions in the sub-region, investment growth volatility is the dominant condition with statistically significant impact on key macroeconomic indicators in the sub-region. Results further point to evidence of significant moderating effects in how external and regional macroeconomic volatility parameters impact regional macroeconomic indicators.

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International Journal of Economics and Finance  ISSN  1916-971X (Print) ISSN  1916-9728 (Online)  Email:

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