La politique economique face aux chocs externes dans les pays en developpement.

Journal article

Many external shocks can be regarded as to some extent temporary, an example being the rise in the oil price in 1990. The paper first considers the consequences of the coffee boom of 1976-1979 in Kenya, a shock caused by a frost in Brazil and therefore evidently of a temporary nature. About half of the windfall was saved although this was due to a high private savings rate offset by low public savings. Due to controls, the windfall savings caused an investment boom which in turn caused a construction boom. The paper then compares the Kenyan experience with other external shocks to investigate whether these consequences are general. It suggests that the low public savings rate in Kenya is not typical, but that high private savings and an excessive peak in domestic investment are common though not universal.

Authors: Bevan, D; Collier, P; Gunning, J

• Publisher: De Boeck Université
• Journal: Revue d'Économie du Développement
• Volume: 1
• Issue: 1
• Publication date: 1993-01-01
• ISSN: 1245-4060
• Language: French