OIL PRICE VOLATILITY AND MACROECONOMIC PERFORMANCE IN NONOIL EXPORTING COUNTRIES IN SUB-SAHARAN AFRICA

This paper examines the impact of oil price volatility on macroeconomic performance in fourteen non-oil exporting Sub-Saharan Africa (SSA) economies using panel ARDL model fort he 1980-2015. It also looks at channels through which transmit to three major sectors their economies. The estimate indicates how persistent prevailed economy by measuring short run and long effects. result shows that economic activity sectors, respond very differently depending time period whether term or term. In particular, has a negative effect macroeconomy but becomes positive run. dampens agricultural sector improves activities manufacturing services sectors. results further show affects exchange rate interest negatively positively inflation channel. therefore shed some light policy makers these can use controlling mechanisms stabilise macroeconomy, key transmission channels. Keywords: Oil volatility, performance, channels, exporting, SSA, ARDL. JEL Classification : B22 DOI: https://doi.org/10.32479/ijeep.11140