Togo: Selected Issues

Volume/Issue: Volume 2015 Issue 310

Publication date: November 2015

ISBN: 9781513562797

$18.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Inflation , Economics- Macroeconomics , Public Finance , ISCR , CR , food inflation , Togo , GDP , GDP series , high-frequency Economic Activity Index , inflation dynamics , series correspond , Public investment spending , Inflation , Public investment and public-private partnerships (PPP) , Structural transformation , Food prices , West Africa , Sub-Saharan Africa , Global , Asia and Pacific

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Summary

This Selected Issues paper discusses the assessment of economic activity in Togo in absence of quarterly GDP series. Togo collects about 40 macroeconomic indicators monthly that span a wide range of sectors of the economy. The selection of the variables for the economic activity index is conducted by finding the combination of variables. The indicators are aggregated into an index using a methodology used by the Conference Board. Then an economic activity index is constructed that effectively replicates the historical growth rates of real GDP in Togo. The selected index minimizes the deviations between the growth rates of the indicator and actual real GDP growth over 2002–13.