- International Monetary Fund. African Dept.
- Published Date:
- May 2012
Akitoby, Bernardin, and SharminiCoorey (eds.) forthcoming, Oil Wealth in Central Africa: Policies for Inclusive Growth (Washington: International Monetary Fund).
1992, “Political Instability and Economic Growth,” NBER Working Paper No. 4173, (Cambridge, Massachusetts: National Bureau of Economic Research).
1997, “Determinants of Economic Growth: A Cross-Country Empirical Study,” MIT Press Books (Cambridge, Massachusetts: Massachusetts Institute of Technology).
2012, “Fiscal Frameworks for Natural Resource Intensive Developing Countries,” Staff Discussion Note (Washington: International Monetary Fund).
2011, Financing Africa: Through the Crisis and Beyond (Washington: World Bank).
2010, “Financial Institutions and Markets across Countries and over Time: The Updated Financial Development and Structure Database,” World Bank Economic Review, Vol.24, No.1, pp. 77–92 (Washington: World Bank).
2005, “Assessing Early Warning Systems: How Have They Worked in Practice?,” IMF Staff Papers, Vol. 52, No. 3, pp. 462–502 (Washington, International Monetary Fund).
BIS, 2011, “The Transmission Channels Between the Financial and Real Sectors: A Critical Survey of the Literature,” BIS Working Paper No. 18 (Basel: Bank for International Settlements).
forthcoming, “Financial Soundness Indicators in sub-Saharan Africa, a panel estimation,” IMF Working Paper (Washington: International Monetary Fund).
2008, “Global Macro-Financial Shocks and Expected Default Frequencies in the Euro Area,” European Central Bank Working Paper Series, No. 875 (Frankfurt: European Central Bank).
2009, “Growth, Development, and Natural Resources: New Evidence Using a Heterogeneous Panel Analysis,” Faculty of Economics, University of Cambridge (mimeo).
2011, Mapping Cross-Border Bank Linkages: Measuring Exposure Levels and Ring-Fencing Risks, PowerPoint, IMF African Department lunchtime seminar.
2011, “The Bright and the Dark Side of Cross-Border Banking Linkages,” IMF Working Paper No. 11/186 (Washington: International Monetary Fund).
2010, “Managing Resource Revenues in Developing Economies,” IMF Staff Papers, Vol. 57, No. 1.
2011, “Savings and Investment Decisions in Low-Income Resource Exporters,” unpublished, Centre for the Study of African Economies, (Oxford, UK: Oxford University).
2011, “Optimal Precautionary Reserves for Low-Income Countries: A Cost-Benefit Analysis,” IMF Working Paper 11/249 (Washington: International Monetary Fund).
2010, “The Taxation of Petroleum and Minerals: Principles, Problems, and Practice,” (United Kingdom: Routledge Explorations in Environmental Economics, andWashington: International Monetary Fund).
forthcoming, “Asset Quality in Emerging Markets: Determinants and Spillovers,” IMF Working Paper (Washington: International Monetary Fund).
2007, “Long Run Macroeconomic Relations in the Global Economy,” Economics—The Open-Access, Open-Assessment E-Journal, 2007–3.
forthcoming, “Policies for Macrofinancial Stability: How to Deal with Credit Booms,” Staff Discussion Note, (Washington: International Monetary Fund).
2009, “The Determinants of Commercial Bank Profitability in Sub-Saharan Africa,” IMF Working Paper 09/15 (Washington: International Monetary Fund).
Financial Stability Board, International Monetary Fund, and World Bank, 2011, “Financial Stability Issues in Emerging Market and Developing Economies,” Report to The G-20 Finance Ministers and Central Bank Governors (October). Electronically available.
2009, “Credit Market Shocks and Economic Fluctuations: Evidence from Corporate Bond and Stock Markets,” Journal of Monetary Economics, Vol. 56, No. 4, pp. 471–93.
1998, “Institutions and Economic Growth in Africa,” The Center for International Development (Cambridge, Massachusetts).
forthcoming, “Natural Resource Endowments, Governance, and Domestic Revenue Mobilization: Lessons for the CEMAC Region,” in Akitoby and Coorey (eds.), Oil Wealth in Central Africa: Policies for Inclusive Growth (Washington: International Monetary Fund).
2010, “Analyzing Nonperforming Loans in Central and Eastern Europe Based on Historical Experience in Emerging Markets,” Global Financial Stability Report (Washington, April).
1977, “Intergenerational Equity and the Investment of Rents from Exhaustible Resources,” American Economic Review, Vol. 67, pp. 972–74.
1931, “The Economics of Exhaustible Resources,” The Journal of Political Economy, Vol. 39, No. 2, pp. 137–75.
1988, “Estimating Vector Autoregressions with Panel Data,” Econometrica, Vol. 56, No. 6, pp. 1371–95.
2006, “Did Botswana Escape from the Resource Curse?” IMF Working Paper 06/138 (Washington: International Monetary Fund).
International Monetary Fund, 2007a, Regional Economic Outlook: Sub-Saharan Africa (Washington, April).
International Monetary Fund, 2007b, Guide on Resource Revenue Transparency (Washington, October).
International Monetary Fund, 2009, Regional Economic Outlook: Sub-Saharan Africa (Washington, April).
International Monetary Fund, 2010, Understanding Financial Interconnectedness, electronically available.
International Monetary Fund, 2011a, Assessing Reserve Adequacy, IMF Policy Papers, (Washington, April).
International Monetary Fund, 2011b, Revenue Mobilization in Developing Countries, (Washington, April).
International Monetary Fund, 2012, World Ecoconomic Outlook, World Economic and Financial Surveys (Washington, April).
1998, “Leading Indicators of Currency Crises,” IMF Staff Papers, Vol 45, No.1, pp.1–48, (Washington: International Monetary Fund).
1999, “The Twin Crises: The Causes of Banking and Balance-of-Payments Problems,” The American Economic Review, Vol. 89, No. 3, pp. 473–500.
2010, “The Worldwide Governance Indicators. Methodology and Analytical Issues,” Policy Research Working Paper 5430 (Washington: World Bank).
2008, “Systemic Banking Crises: A New Database,” Working Paper 08/224 (Washington: International Monetary Fund).
2010, “The Cross-Border Expansion of African LCFIs: Implications for Regional Financial Stability and Regulatory Reform,” IMF Research Paper (Washington: International Monetary Fund).
1996, “The Effects of Corruption on Growth, Investment, and Government Expenditure,” IMF Working Paper 96/98 (Washington: International Monetary Fund).
2008, “An Anatomy of Credit Booms: Evidence from Macro Aggregates and Micro Data,” NBER Working Papers 14049, National Bureau of Economic Research, Inc., (Cambridge, Massachusetts: NBER).
forthcoming, “Global Financial Stress Transmission into sub-Saharan Africa—A GVAR approach,” IMF Working Paper (Washington: International Monetary Fund).
2011, “Institutional Models for Macroprudential Policy,” IMF Staff Discussion Note, SDN/11/18, November (Washington: International Monetary Fund).
2003, “Political Institutions and Economic Growth in Africa,” The Centre for the Study of African Economies Working Paper Series No. 185, The Berkeley Electronic Press.
2009a, “Forecasting Economic and Financial Variables with Global VARs,” International Journal of Forecasting, Vol. 25, pp. 642–675.
2009b, “Rejoinder to Comments on Forecasting Economic and Financial Variables with Global VARs,” International Journal of Forecasting, Vol. 25, pp. 703–715.
2009, “Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning,” NBER Working Paper 15357 (Cambridge, Massachusetts: NBER).
1997, “Natural Resource Abundance and Economic Growth,” The Center for International Development, (Cambridge, Massachusetts: CID).
1999, “The Big Push, Natural Resource Booms and Growth,” Journal of Development Economics, Vol. 59, pp. 43–76.
2001, “Natural Resources and Economic Development: The Curse of Natural Resources,” European Economic Review, Vol. 45, pp. 827–38.
2009, “Dynamic Provisioning,” World Bank Public Policy Journals, Note 7. Electronically available.
2011, GVAR Toolbox 1.1, electronically available.
2008, “The Structural Transformation as a Pathway out of Poverty: Analytics, Empirics and Politics,” Working Paper No. 150, Center for Global Development.
2011, “Natural Resources: Curse or Blessing?” Journal of Economic Literature, Vol. 49, No.2, pp. 366–420.
1984, “The ‘Dutch Disease’: A Disease After All?” The Economic Journal, Vol. 94, No. 373, pp. 41–55.
Publications of the IMF African Department, 2009–12
BOOKS AND MONOGRAPHS
The Impact of the Global Financial Crisis on Sub-Saharan Africa
Tanzania: The Story of an African Transition
Nord, Roger, Yuri Sobolev, David Dunn, Alejandro Hajdenberg, Niko Hobdari, Samar Maziad, and Stéphane Roudet
Macroeconomic Vulnerabilities Stemming from the Global Economic Crisis: The Case of Switzerland
Basdevant, Olivier, Chikako Baba, and Borislava Mircheva
What Do Fast Job Creators Look Like? Some Stylized Facts and Perspectives on South Africa
South Africa: Macro Policy Mix and Its Effects on Growth and the Real Exchange Rate—Empirical Evidence and GIMF Simulations
Canales-Kriljenko, Jorge Iván
Measuring the Potential Output of South Africa
In the Wake of the Global Economic Crisis: Adjusting to Lower Revenue of the Southern African Customs Union in Botswana, Lesotho, Namibia, and Swaziland
Mongardini, Joannes, Dalmacio Benicio, Thomson Fontaine, Gonzalo C. Pastor, and Geneviève Verdier
Zimbabwe: Challenges and Policy Options after Hyperinflation
Kramarenko, Vitaliy, Lars H. Engstrom, Geneviève Verdier, Gilda Fernandez, Stefan E. Oppers, Richard Hughes, James McHugh, and Warren L. Coats
Expenditure Composition and Economic Developments in Benin
Pani, Marco and Mohamed El Harrak
Wage Policy and Fiscal Sustainability in Benin
Lundgren, Charlotte J.
The Global Financial Crisis and Adjustments to Shocks in Kenya, Tanzania, and Uganda: A Balance Sheet Analysis Perspective
Impact of the Global Financial Crisis on Exchange Rates and Policies in Sub-Saharan Africa
Ben Ltaifa, Nabil, Stella Kaendera, and Shiv Dixit
Spillover Effects and the East African Community: Explaining the Slowdown and the Recovery
Drummond, Paulo and Gustavo Ramirez
Foreign Exchange Reserve Adequacy in East African Community Countries
Drummond, Paulo, Aristide Mrema, Stéphane Roudet, and Mika Saito
STAFF POSITION NOTES
The International Financial Crisis and Global Recession: Impact on the CEMAC Region and Policy Considerations
Wakeman-Linn, John, Rafael A. Portillo, Plamen Iossifov, and Dimitre Milkov
The Global Financial Crisis: Impact on WAEMU Member Countries and Policy Options
Mueller, Johannes, Irene Yackovlev, and Hans Weisfeld
The Southern African Development Community’s Macroeconomic Convergence Program: Initial Performance
Fiscal Policy in Sub-Saharan Africa in Response to the Impact of the Global Crisis
Berg, Andrew, Norbert Funke, Alejandro Hajdenberg, Victor Duarte Lledo, Rolando Ossowski, Martin Schindler, Antonio Spilimbergo, Shamsuddin Tareq, and Irene Yackovlev
Monetary Policy in Low-Income Countries in the Face of the Global Crisis: The Case of Zambia
Baldini, Alfredo, Jaromir Benes, Andrew Berg, Mai Dao, and Rafael Portillo
Fiscal Policies and Rules in the Face of Revenue Volatility Within Southern Africa Customs Union Countries (SACU)
Real Wage, Labor Productivity, and Employment Trends in South Africa: A Closer Look
Exchange Rate Volatility Under Peg: Do Trade Patterns Matter?
Lonkeng Ngouana, Constant
Assessing Bank Competition within the East African Community
Sanya, Sarah and Matthew Gaertner,
Prudential Liquidity Regulation in Developing Countries: A Case Study of Rwanda
Sanya, Sarah, Wayne Mitchell, and Angelique Kantengwa
Capital Market Integration: Progress Ahead of the East African Community Monetary Union
International Reserves in Low-Income Countries: Have They Served as Buffers?
Cripolti, Valerio and George Tsibouris
Inflation Differentials in the GCC: Does the Oil Cycle Matter?
Mohaddes, Kamiar and Oral Williams
Effectiveness of Capital Controls in Selected Emerging Markets in the 2000s
Baba, Chikako and Annamaria Kokenyne
How Costly Are Debt Crises?
Furceri, Davide and Aleksandra Zdzienicka
Monetary Policy Transmission in Ghana: Does the Interest Rate Channel Work?
Does Money Matter for Inflation in Ghana?
On the Stability of Monety Demand in Ghana: A Bounds Testing Approach
Dagher, Jihad and Arto Kovanen
Oil-Price Boom and Real Exchange Rate Appreciation: Is There Dutch Disease in the CEMAC?
Treviño, Juan Pedro
The Design of Fiscal Adjustment Strategies in Botswana, Lesotho, Namibia, and Swaziland
Basdevant, Olivier, Dalmacio Benicio, Borislava Mircheva, Joannes Mongardini, Geneviève Verdier, Susan Yang, and Luis-Felipe Zanna
Do Remittances Reduce Aid Dependency?
Kpodar, Kangni and Maelan Le Goff
Determinants of Non-oil Growth in the CFA-Zone Oil Producing Countries: How do they Differ?
Tabova, Alexandra and Carol L. Baker
Inflation Dynamics in the CEMAC Region
Caceres, Carlos, Marcos Poplawski-Ribeiro, and Darlena Tartari
External Sustainability of Oil-Producing Sub-Saharan African Countries
Takebe, Misa, and Robert C. York
The Cyclicality of Fiscal Policies in the CEMAC Region
Mpatswe, Gaston K., Sampawende J. Tapsoba, and Robert C. York
South Africa: The Cyclical Behavior of the Markups and Its Implications for Monetary Policy
Burkina Faso—Policies to Protect the Poor from the Impact of Food and Energy Price Increases
Arze del Granado, Javier, and Isabell Adenauer
De Jure versus De Facto Exchange Rate Regimes in Sub-Saharan Africa
Slavov, Slavi T.
Financial Deepening, Property Rights and Poverty: Evidence from Sub-Saharan Africa
Singh, Raju Jan, and Yifei Huang
FDI from BRICs to LICs: Emerging Growth Driver?
Mlachila, Montfort, and Misa Takebe
Determinants of Interest Rate Pass-Through: Do Macroeconomic Conditions and Financial Market Structure Matter?
The Quest for Higher Growth in the WAEMU Region: The Role of Accelerations and Decelerations
Kinda, Tidiane, and Montfort Mlachila
Fiscal Policy Implementation in Sub-Saharan Africa
Lledo, Victor Duarte, and Marcos Poplawski Ribeiro
Post-Conflict Recovery: Institutions, Aid, or Luck?
David, Antonio, Fabiano Rodrigues Bastos, and Marshall Mills
Ghana: Will It Be Gifted, or Will It Be Cursed?
Oil Spill(over)s: Linkages in Petroleum Product Pricing Policies in West African Countries
David, Antonio, Mohamed El Harrak, Marshall Mills, and Lorraine Ocampos
Feeling the Elephant’s Weight: The Impact of Côte d’Ivoire’s Crisis on WAEMU Trade
Egoumé-Bossogo, Philippe and Ankouvi Nayo
ICT, Financial Inclusion, and Growth Evidence from African Countries
Andrianaivo, Mihasonirina, and Kangni Kpodar
Feeling the Elephant’s Weight: The Impact of Côte d’Ivoire’s Crisis on WAEMU Trade
Egoumé-Bossogo, Philippe, and Nayo Ankouvi
Fiscal Sustainability and the Fiscal Reaction Function for South Africa
Burger, Philippe, Alfredo Cuevas, Ian Stuart, and Charl Jooste
Reviving the Competitive Storage Model: A Holistic Approach to Food Commodity Prices
Miao, Yanliang, Weifeng Wu, and Norbert Funke
Inflation Uncertainty and Relative Price Variability in WAEMU
Fernandez Valdovinos, Carlos, and Kerstin Gerling
Modeling Inflation in Chad
Fiscal Expectations under the Stability and Growth Pact: Evidence from Survey Data
Poplawski-Ribeiro, Marcos and Jan-Christoph Rulke
Growth in Africa under Peace and Market Reforms
Korbut, Olessia, Gonzalo Salinas, and Cheikh A. Gueye
Capital Flows, Exchange Rate Flexibility, and the Real Exchange Rate
Kinda, Tidiane, Jean-Louis Combes, and Patrick Plane
Weathering the Global Storm: The Benefits of Monetary Policy Reform in the LA5 Countries
Canales Kriljenko, Jorge Iván, Luis Ignacio Jácome, Ali Alichi, and Ivan Luis de Oliveira Lima
Export Tax and Pricing Power: Two Hypotheses on the Cocoa Market in Côte d’Ivoire
What Can International Cricket Teach Us About the Role of Luck in Labor Markets?
Aiyar, Shekhar and Rodney Ramcharan
Performance of Fiscal Accounts in South Africa in a Cross-Country Setting
Cyclicality of Revenue and Structural Balances in South Africa
Mother, Can I Trust the Government? Sustained Financial Deepening—A Political Institutions View
Quintyn, Marc and Geneviève Verdier
Islamic Banking: How Has It Diffused?
Imam, Patrick A. and Kangni Kpodar
A Macro Model of the Credit Channel in a Currency Union Member: The Case of Benin
How Do International Financial Flows to Developing Countries Respond to Natural Disasters?
Exchange Rate Assessment for Sub-Saharan Economies
Balance Sheet Vulnerabilities of Mauritius during a Decade of Shocks
Imam, Patrick A., and Rainer Koehler
Beyond Aid: How Much Should African Countries Pay to Borrow?
Gueye, Cheikh A., and Amadou N.R. Sy
Banking Efficiency and Financial Development in Sub-Saharan Africa
FDI Flows to Low-Income Countries: Global Drivers and Growth Implications
Dabla-Norris, Era, Jiro Honda, Amina Lahrèche-Révil, and Geneviève Verdier
The Linkage between the Oil and Nonoil Sectors—A Panel VAR Approach
Short- versus Long-Term Credit and Economic Performance: Evidence from the WAEMU
Kpodar, Kangni and Kodzo Gbenyo
Budget Institutions and Fiscal Performance in Low-Income Countries
Dabla-Norris, Era, Richard Allen, Luis-Felipe Zanna, Tej Prakash, Eteri Kvintradze, Victor Duarte Lledo, Irene Yackovlev, and Sophia Gollwitzer
ICT Equipment Investment and Growth in Low- and Lower-Middle-Income Countries
The Real Exchange Rate and Growth Revisited: The Washington Consensus Strikes Back?
Berg, Andrew, and Yanliang Miao
Firm Productivity, Innovation, and Financial Development
Dabla-Norris, Era, Eramus Kersting, and Geneviève Verdier
Cyclical Patterns of Government Expenditures in Sub-Saharan Africa: Facts and Factors
Lledo, Victor, Irene Yackovlev, and Lucie Gadenne
A Framework to Assess the Effectiveness of IMF Technical Assistance in National Accounts
Pastor, Gonzalo C.
Improving Surveillance across the CEMAC Region
Iossifov, Plamen, Noriaki Kinoshita, Misa Takebe, Robert C. York, and Zaijin Zhan
A Rule Based Medium-Term Fiscal Policy Framework for Tanzania
Kim, Daehaeng, and Mika Saito
Analyzing Fiscal Space Using the MAMS Model: An Application to Burkina Faso
Gottschalk, Jan, Vu Manh Le, Hans Lofgren, and Kofi Nouve
Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa
Singh, Raju Jan, Markus Haacker, and Kyung-woo Lee
São Tomé and Príncipe: Domestic Tax System and Tax Revenue Potential
The Gambia: Demand for Broad Money and Implications for Monetary Policy Conduct
Sriram, Subramanian S.
Understanding the Growth of African Markets
Yartey, Charles Amo, and Mihasonirina Andrianaivo
Credit Growth in Sub-Saharan Africa—Sources, Risks, and Policy Responses
Iossifov, Plamen, and May Y. Khamis
Spillovers from the Rest of the World into Sub-Saharan African Countries
Drummond, Paulo, Flavio Nacif, and Gustavo Ramirez
In Search of Successful Inflation Targeting: Evidence from an Inflation Targeting Index
Introducing the Euro as Legal Tender—Benefits and Costs of Eurorization for Cape Verde
Imam, Patrick A.
The Macroeconomics of Scaling Up Aid: The Gleneagles Initiative for Benin
Mongardini, Joannes, and Issouf Samaké
Sub-Saharan Africa’s Integration in the Global Financial Markets
Deléchat, Corinne, Gustavo Ramirez, Smita Wagh, and John Wakeman-Linn
Financial Deepening in the CFA Franc Zone: The Role of Institutions
Singh, Raju, Kangni Kpodar, and Dhaneshwar Ghura
Madagascar: A Competitiveness and Exchange Rate Assessment
Understanding Inflation Inertia in Angola
Klein, Nir, and Alexander Kyei
Grants, Remittances, and the Equilibrium Real Exchange Rate in Sub-Saharan African Countries
Mongardini, Joannes, and Brett Rayner
Dedollarization in Liberia—Lessons from Cross-Country Experience
Erasmus, Lodewyk, Jules Leichter, and Jeta Menkulasi
The Macroeconomic Impact of Scaled-Up Aid: The Case of Niger
Farah, Abdikarim, Emilio Sacerdoti, and Gonzalo Salinas
The Value of Institutions for Financial Markets: Evidence from Emerging Markets
Akitoby, Bernardin, and Thomas Stratmann
Why Isn’t South Africa Growing Faster? A Comparative Approach
The Determinants of Commercial Bank Profitability in Sub-Saharan Africa
Flamini, Valentina, Calvin A. McDonald, and Liliane Schumacher
Bank Efficiency in Sub-Saharan African Middle-Income Countries
How Can Burundi Raise Its Growth Rate? The Impact of Civil Conflicts and State Intervention on Burundi’s Growth Performance