Asymmetric effect of oil price change on inflation: Evidence from sub Saharan Africa countries

This study is aimed at investigating the asymmetric effect of oil price change on inflation for Sub Saharan Africa (SSA) countries. Based on the findings from the dynamic heterogenous nonlinear panel ARDL estimation, a panel data representation of Shin et al. (2014), the long run asymmetric relationship exists between both oil price increase (op+) and decrease (op− ) and inflation for these countries. Nevertheless, the oil price increase tends to exert more effect on inflation than the oil price decrease.