- International Monetary Fund. African Dept.
- Published Date:
- May 2016
2015. “The Rising Resilience of Emerging Market and Developing Economies.” World Development72: 1–26..
1997. “Was Prometheus Unbound by Chance? Risk, Diversification and Growth.” Journal of Political Economy105 (4): 509–71..
2011. “Commodity Price Cycles: The Perils of Mismanaging the Boom.” IMF Working Paper 11/283, International Monetary Fund, Washington..
2015. “Financial Inclusion and Development in the CEMAC.” IMF Working Paper 15/235, International Monetary Fund, Washington..
1989. “Inflation and the Financing of Government Expenditure: An Introductory Analysis with an Application to Turkey.” World Bank Economic Review3 (1): 17–38..
2012. “Too Much Finance?” IMF Working Paper 12/161, International Monetary Fund, Washington..
2016. “Trading on Their Terms? Commodity Exporters in the Aftermath of the Commodity Boom.” IMF Working Paper 16/27, International Monetary Fund, Washington..
2009. “Financial Development and Openness: Evidence from Panel Data.” Journal of Development Economics89: 285–96..
Bank for International Settlements (BIS). 2010. “Microfinance Activities and the Core Principles for Effective Banking Supervision.” Consultative document, Bank for International Settlements, Basel.
2013. “Too Cold, Too Hot, Or Just Right? Assessing Financial Sector Development Across the Globe.” IMF Working Paper 13/81, International Monetary Fund, Washington..
2014. “The Mystery of Missing Real Spillovers in Southern Africa: Some Facts and Possible Explanations.” African Departmental Paper 14/03, International Monetary Fund, Washington..
2008. “The Econometrics of Finance and Growth.” Policy Research Working Paper 4608, World Bank, Washington..
2013. Financial Sector Development in Africa: Opportunities and Challenges.Washington: World Bank..
1999. “The Financial Accelerator in a Quantitative Business Cycle Framework” In Handbook of Macroeconomics, Volume 1C, edited by John B.Taylor and MichaelWoodford (ed). Amsterdam: Elsevier Science..
2001. “International and Domestic Collateral Constraints in a Model of Emerging Markets Crisis.” Journal of Monetary Economics48 (3): 513–48..
Commodity Price Swings: Fiscal and External Implications for Latin America.” IMF Working Paper, International Monetary Fund, Washington.. “
2013. “Inward and Outward Spillovers in the SACU Area.” IMF Working Paper 13/31, International Monetary Fund, Washington..
2004. “Commodity Currencies and the Real Exchange Rate.” Journal of Development Economics75: 239–68..
2015. “Why Does Financial Sector Growth Crowd Out Real Economic Growth.” BIS Working Paper 490, Bank for International Settlements, Basel..
2012. “Macroeconomic Performance During Commodity Price Booms and Busts.” IMF Economic Review60 (4): 570–99..
2010. “A Framework for Financial Market Development.” Journal of Economic Policy Reform13 (2): 107–35..
Consultative Group to Assist the Poor (CGAP). 2015. “Women and Financial Inclusion.” Washington. www.cgap.org/topics/women-and-financial-inclusion.
CGAP and Microfinance Information Exchance (MIX). 2011. “MIX Microfinance World: Sub-Saharan Africa Microfinance Analysis and Benchmarking Report 2010.” Washington.
Aggregate Costs of Gender Gaps in the Labor Market: A Quantitative Estimate.” Journal of Human Capital.. “
2016. “Benin: Selected Issues.” IMF Country Report 16/7, International Monetary Fund, Washington..
2014. “Financial Inclusion and Development: Recent Impact Evidence.” CGAP Focus Note No. 92, Consultative Group to Assist the Poor, Washington..
2015. “Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality.” IMF Working Paper 15/22, International Monetary Fund, Washington..
1992. “On the Behavior of Commodity Prices.” Review of Economic Studies59 (1): 1–23..
2014. “Multinational Banks and the Global Financial Crisis: Weathering the Perfect Storm?” Journal of Money Credit and Banking46 (1): 333–64..
2015. “The Global Findex Database 2014: Measuring Financial Inclusion around the World.” Policy Research Working Paper 7225, World Bank, Washington..
2011. “Women Empowerment and Economic Development.” Working Paper 17702, National Bureau of Economic Research, Cambridge, Massachusetts..
2011. “Dynamic Female Labor Supply.” Econometrica79 (6): 1675–726..
2005. “Flexible Exchange Rates as Shock Absorbers.” European Economic Review49: 2079–105.
2015. “Pan-African Banking. Opportunities and Challenges for Cross-Border Banking.” African Departmental Paper 15/3, International Monetary Fund, Washington..
2016. “FinStats 2016: A Ready-to-Use Tool to Benchmark Financial Sectors across Countries and over Time—User Guide and Benchmarking Methodology.” World Bank, Washington..
1993. “Income Distribution and Macroeconomics.” Review of Economic Studies60 (1): 35–52..
Global Terrorism Database. 2014. 2015. University of Maryland. http://www.start.umd.edu/gtd/about/
2015a. “Fair Play: More Equal Laws Boost Female Labor Force Participation.” IMF Staff Discussion Note 15/02, International Monetary Fund, Washington..
2015b. “Catalyst for Change: Empowering Women and Tackling Income Inequality.” IMF Staff Discussion Note 15/20, International Monetary Fund, Washington..
Groupe Speciale Mobile Association (GSMA). 2014. “State of the Industry 2013: Mobile Financial Services for the Unbanked.” London.
2014. “After the Boom: Commodity Prices and Economic Growth in Latin America and the Caribbean.” IMF Working Paper 14/154, International Monetary Fund, Washington..
2006. “Sub-Saharan Africa: Financial Sector Challenges.” International Monetary Fund, Washington..
2002. “Dissecting the Cycle: A Methodological Investigation.” Journal of Monetary Economics49 (2): 365–81..
2010. “Exchange Rate Arrangements Entering the 21st Century: Which Anchor Will Hold?” Unpublished. Database available at: http://personal.lse.ac.uk/ilzetzki/index.htm/Data.htm.
International Monetary Fund (IMF). 2007. “Namibia: Financial System Stability Assessment, including Report on the Observance of Standards and Codes on Banking Supervision.” IMF Country Report 07/83, International Monetary Fund, Washington.
International Monetary Fund (IMF). 2012a. “Enhancing Financial Sector Surveillance in Low-Income Countries: Financial Deepening and Macro-Stability.” IMF Policy Paper, International Monetary Fund, Washington.
International Monetary Fund (IMF). 2012b. “Enhancing Financial Sector Surveillance in Low-Income Countries (LICs) – Case Studies.” IMF Policy Paper, International Monetary Fund, Washington.
International Monetary Fund (IMF). 2012c. “Revisiting the Debt Sustainability Framework for Low-Income Countries,” International Monetary Fund and World Bank, Washington
International Monetary Fund (IMF). 2013. “Staff Guidance Note on the Application of the Joint Bank-Fund Debt Sustainability Framework for Low-Income Countries.” Washington.
International Monetary Fund (IMF). 2014. “Pan-African Banks: Opportunities and Challenges for Cross-Border Oversight.” IMF Policy Paper, International Monetary Fund, Washington.
International Monetary Fund (IMF). 2015a. “Advancing Financial Development in Latin America and the Caribbean.” Chapter 5, Regional Economic Outlook: Western Hemisphere,International Monetary Fund, Washington.
International Monetary Fund (IMF). 2015b. “Central African Economic and Monetary Community (CEMAC): Common Policies of Member Countries–Staff Report.” IMF Country Report 15/222, Washington.
International Monetary Fund (IMF). 2015c. “Malawi: Staff Report for the 2015 Article IV Consultation.” IMF Country Report 15/345, International Monetary Fund, Washington.
International Monetary Fund (IMF). 2015d. “Namibia: Staff Report for the 2015 Article IV Consultation.” IMF Country Report 15/276, International Monetary Fund, Washington.
International Monetary Fund (IMF). 2015e. “Uganda: Staff Report for the 2015 Article IV Consultation and Fourth Review under the Policy Support Instrument.” IMF Country Report 15/175, International Monetary Fund, Washington.
International Monetary Fund (IMF). 2015f. “West African Economic and Monetary Union (WAEMU): Common Policies of Member Countries–Staff Report.” IMF Country Report 15/100, Washington.
2005. “Estimation and Inference of Impulse Responses by Local Projections.” American Economic Review95 (1): 161–82..
2014. “Oversight Issues in Mobile Payments.” IMF Working Paper 14/123, International Monetary Fund, Washington..
2008. “Capital Account Liberalization, Financial Depth, and Economic Growth.” Journal of International Money and Finance27 (6): 861–75..
2011. “Mobile Banking and Financial Inclusion: The Regulatory Lessons.” Policy Research Working Paper 5664, World Bank, Washington..
2006. “How Do Trade and Financial Integration Affect the Relationship between Growth and Volatility?” Journal of International Economics69: 176–202..
2012. “Systemic Banking Crises Database: An Update.” IMF Working Paper 12/163, International Monetary Fund, Washington..
2005. “Finance and Growth.” In Handbook of Economic Growth, edited by P.Aghion and S.Durlaf (ed). Amsterdam: Elsevier..
2015. “Namibia: Macro-Financial Risks Associated with Housing Boom—Selected Issues.” IMF Country Report 15/277, International Monetary Fund, Washington..
2015. “Systemic Risk Assessment in Low-Income Countries: Balancing Financial Stability and Development.” IMF Working Paper 15/190, International Monetary Fund, Washington..
2011. “Mobile Banking: The Impact of M-Pesa in Kenya.” Working Paper 17129, National Bureau of Economic Research, Cambridge, Massachussetts..
2015. “Evolving Banking Trends in Sub-Saharan Africa: Key Features and Challenges.” IMF African Departmental Paper 15/08, International Monetary Fund, Washington..
2010. “Female Labor Force Participation and Total Fertility Rates in the OECD: New Evidence from Panel Cointegration and Granger Causality Testing.” Journal of Economics and Business62 (1): 48–64..
2013. “Banking in Sub-Saharan Africa: The Macroeconomic Context.” IMF African Departmental Paper 13/03, International Monetary Fund, Washington..
2015. “West African Economic and Monetary Union, IMF Selected Issues Paper: Financial Inclusion in the WAEMU.” IMF Country Report 15/101, International Monetary Fund, Washington..
2002. “External Debt and Growth.” IMF Working Paper 02/69, International Monetary Fund, Washington..
2012. “Cross-Border Banking, Credit Access, and the Financial Crisis.” Journal of International Economics87 (1): 147–61..
2003. “The Great Reversals: the Politics of Financial Development in the Twentieth Century.” Journal of Financial Economics69 (1): 5–50..
Respons Ability. 2014. Microfinance Market Outlook 2015.November. http://www.responsability.com/funding/data/docs/es/10427/Microfinance-Market-Outlook-2015-DE.pdf
2012. “Due Diligence: An Impertinent Inquiry into Microfinance.” Center for Global Development, Washington..
2015a. “Financial Inclusion: Can It Meet Multiple Macroeconomic Goals?” IMF Staff Discussion Note 15/17, International Monetary Fund, Washington..
2015b. “Rethinking Financial Deepening: Stability and Growth in Emerging Markets.” IMF Staff Discussion Note 15/08, International Monetary Fund, Washington..
2014. “The Standardized World Income Inequality Database.” Working Paper. SWIID 5.0, October..
2009. “Commodity Terms of Trade: The History of Booms and Busts.” IMF Working Paper 09/205, International Monetary Fund, Washington.
2012. “Can Women Save Japan?” IMF Working Paper 12/248, International Monetary Fund, Washington..
2015. “Pan-African Banks: Stylized Facts and Result of a Pilot Survey.” In Recent Trends in Banking in Sub-Saharan Africa: From Financing to Investment.Luxembourg: European Investment Bank.
2002. “Markets for Risk and Openness to Trade: How Are They Related?” Journal of International Economics57 (2), 369–95..
2016. “Introducing a New Broad-Based Indicator of Financial Development.” IMF Working Paper 16/05, International Monetary Fund, Washington..
2015. “Angola: Selected Issues Paper. Bank Benchmarking.” IMF Country Report 15/302, International Monetary Fund, Washington..
2014. “Is Economic Recovery a Myth? Robust Estimation of Impulse Responses.” Journal of Applied Econometrics29 (3): 497–514..
2012. “Female Labour Force Participation and Economic Development in Southern Mediterranean Countries: What Scenarios for 2030?” Mediterranean Prospects (MEDPRO) Technical Report No. 19, December. European Commission, Luxembourg..
2012. “The Impact of Microfinance in Sub-Saharan Africa: A Systematic Review of the Evidence.” World Development40 (11): 2249–62.
1982. “Maximum Likelihood Estimation of Misspecified Models.” Econometrica50: 1–25..
World Bank. 2012. Global Financial Development Report 2013: Rethinking the Role of Government in Finance.Washington: World Bank.
World Bank. 2014. “Global Financial Inclusion Index (Findex).” World Bank, Washington.
World Bank. 2016. Global Economic Prospects: Spillovers amid Weak Growth.Washington: World Bank.
World Bank, and IMF. 2008. “Botswana: Financial Sector Assessment.” World Bank and International Monetary Fund, Washington.
Publications of the IMF African Department, 2009–16
Books and Monographs
Africa on the Move: Unlocking the Potential of Small Middle-Income States
Lamin Leigh, Ali M Mansoor
The Quest for Regional Integration in the East African Community:
Drummond, Paulo, S.K. Wajid, Oral Williams
The Mystery of Missing Real Spillovers in Southern Africa: Some Facts and Possible Explanations
Basdevant, Olivier, Andrew W. Jonelis, Borislava Mircheva, Slavi T. Slavov
Building a Common Future in Southern Africa
Mongardini, Joannes, Tamon Asonuma, Olivier Basdevant, Alfredo Cuevas, Xavier Debrun, Lars Holger Engstrom, Imelda M. Flores Vazquez, Vitaliy Kramarenko, Lamin Leigh, Paul R. Masson, Geneviève Verdier
Oil Wealth in Central Africa: Policies for Inclusive Growth
Coorey, Sharmini, and Bernardin Akitoby
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, Stéphane Roudet
Trade Integration and Global Value Chains in Sub-Saharan Africa: In Pursuit of the Missing Link
Céline Allard, Jorge Iván Canales Kriljenko, Jesus Gonzalez-Garcia, Emmanouil Kitsios, Juan P. Trevino, Wenjie Chen
Make Investment Scaling-up Work in Benin: A Macro-Fiscal Analysis
Barhoumi, Karim, Larry Cui, Christine Dieterich, Nicolas End, Matteo Ghilardi, Alexander Raabe, Sergio Sola
Strengthening the West African Economic and Monetary Union: The Role of Fiscal and Market Institutions in Economic Stabilization
Basdevant, Olivier, Patrick A. Imam, Tidiane Kinda, Aleksandra Zdzienicka
Evolving Banking Trends in Sub-Saharan Africa: Key Features and Challenges
Mecagni, Mauro, Daniela Marchettini, Rodolfo Maino
Monitoring and Managing Fiscal Risks in the East African Community
Mauro, Paolo, Herve Joly, Ari Aisen, Emre Alper, François Boutin-Dufresne, Jemma Dridi, Nikoloz Gigineishvili, Tom Josephs, Clara Mira, Vimal V Thakoor, Alun H. Thomas, Fan Yang
Toward a Monetary Union in the East African Community: Asymmetric Shocks, Exchange Rates, and Risk-Sharing Mechanisms
Drummond, Paulo, Ari Aisen, C. Emre Alper, Ejona Fuli, and Sebastien Walker
Building Resilience in Sub-Saharan Africa’s Fragile States
Gelbard, Enrique, Corinne Délechat, Ejona Fuly, Mumtaz Hussain, Ulrich Jacoby, Dafina Mulaj, Marco Pani, Gustavo Ramirez, Rui Xu
Dollarization in Sub-Saharan Africa: Experiences and Lessons
Mecagni, Mauro, Juan S Corrales, Jemma Dridi, Rodrigo Garcia-Verdu, Patrick A. Imam, Justin Matz, Carla Macario, Rodolfo Maino, Yibin Mu, Ashwin Moheeput, Futoshi Narita, Marco Pani, Manuel Rosales, Sebastian Weber, Etienne B. Yehoue
Pan-African Banking: Opportunities and Challenges for Cross-Border Oversight
Enoch, Charles, Paul Henri Mathieu, Mauro Mecagni, Jorge Iván Canales Kriljenko
Sustaining More Inclusive Growth in the Republic of Congo
Hakura, Dalia, Adrian Alter, Matteo Ghilardi, Rodolfo Maino, Cameron McLoughlin, Maximilien Queyranne
Making Senegal a Hub for West Africa: Reforming the State, Building to the Future
Kireyev, Alexei, Ali M. Mansoor
Mozambique Rising: Building a New Tomorrow
Ross, Doris C., Victor Duarte Lledo, Alex Segura-Ubiergo, Yuan Xiao, Iyabo Masha, Alun H. Thomas, Keiichiro Inui
The Mystery of Missing Real Spillovers in Southern Africa: Some Facts and Possible Explanations
Basdevant, Olivier, Andrew W Jonelis, Borislava Mircheva, Slavi T. Slavov
Issuing International Sovereign Bonds: Opportunities and Challenges for Sub-Saharan Africa
Mecagni, Mauro, Jorge Iván Canales Kriljenko, Cheikh A. Gueye, Yibin Mu, Masafumi Yabara, Sebastian Weber
Managing Volatile Capital Flows: Experiences and Lessons for Sub-Saharan African Frontier Markets
Gueye, Cheikh A., Javier Arze del Granado, Rodrigo Garcia-Verdu, Mumtaz Hussain, B. Jang, Sebastian Weber, Juan S Corrales
Mali: Achieving Strong and Inclusive Growth with Macroeconomic Stability
Responding to Shocks and Maintaining Stability in the West African Economic and Monetary Union
Kolerus, Christina, Aleksandra Zdzienicka, Ermal Hitaj, Douglas J. Shapiro
West African Economic and Monetary Union: Financial Depth and Macrostability
Imam, Patrick A., and Christina Kolerus
Senegal: Financial Depth and Macrostability
Imam, Patrick A., and Christina Kolerus
Senegal: Achieving High and Inclusive Growth While Preserving Fiscal Sustainability
Kireyev, Alexei, and Gaston K. Mpatswe
Banking in Sub-Saharan Africa: The Macroeconomic Context
Mlachila, Montfort, Seok Gil Park, Masafumi Yabara
Energy Subsidy Reform in Sub-Saharan Africa: Experiences and Lessons
Alleyne, Trevor, and Mumtaz Hussain
Boom, Bust, or Prosperity? Managing Sub-Saharan Africa’s Natural Resource Wealth
Lundgren, Charlotte J., Alun H. Thomas, Robert C. York
Restoring Sustainability in a Changing Global Environment: Options for Swaziland
Basdevant, Olivier, Emily Forrest, and Borislava Mircheva
Macroeconomic Vulnerabilities Stemming from the Global Economic Crisis: The Case of Swaziland
Basdevant, Olivier, Chikako Baba, 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, 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, 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, Mika Saito
Pan-African Banks - Opportunities and Challenges for Cross-Border Oversight
Prepared by a staff team led by Charles Enoch, Paul Mathieu, Mauro Mecagni.
Staff Discussion Notes
Is the Glass Half Empty or Half Full? Issues in Managing Water Challenges and Policy Instruments
Kalpana Kochhar, Catherine Pattillo, Yan Sun, Nujin Suphaphiphat, Andrew Swiston, Robert Tchaidze, Benedict Clements, Stefania Fabrizio, Valentina Flamini, Laure Redifer, Harald Finger, and an IMF Staff Team
Economic Diversification in LICs: Stylized Facts and Macroeconomic Implications
Papageorgiou, Chris, and Nicola Spatafora
The International Financial Crisis and Global Recession: Impact on the CEMAC Region and Policy Considerations
Wakeman-Linn, John, Rafael A. Portillo, Plamen Iossifov, Dimitre Milkov
The Global Financial Crisis: Impact on WAEMU Member Countries and Policy Options
Mueller, Johannes, Irene Yackovlev, 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, Irene Yackovlev
Unintended Consequences: Spillovers from Nigeria’s Fuel Pricing Policies to Its Neighbor
Mlachila, Montfort, Edgardo Ruggiero, David Corvino
Commodity Price Shocks and Financial Sector Fragility
Kinda, Tidiane, Montfort Mlachila, Rasmané Ouedraogo
Exiting From Fragility in sub-Saharan Africa: The Role of Fiscal Policies and Fiscal Institutions
Deléchat, Corinne, Ejona Fuli, Dafina Mulaj, Gustavo Ramirez, Rui Xu
Public Investment in a Developing Country Facing Resource Depletion
Alter, Adrian, Matteo Ghilardi, Dalia Hakura
Financial Inclusion and Development in the CEMAC
Alter, Adrian, Boriana Yontcheva
Spillovers from China onto Sub-Saharan Africa: Insights from the Flexible System of Global Models (FSGM)
Anderson, Derek, Jorge Iván Canales Kriljenko, Paulo Drummond, Pedro Espaillat, Dirk Muir
Systemic Risk Assessment in Lo Income Countries: Balancing Financial Stability and Development
Marchettini, Daniela, Rodolfo Maino
On the Drivers of Inflation in Sub-Saharan Africa
Nguyen, Anh D. M., Jemma Dridi, D. Filiz Unsal, Oral Williams
Sub-Saharan Employment Developments: The Important Role of Household Enterprises with an Application to Rwanda
Alun H. Thomas
Household Financial Acces and Risk Sharing in Nigeria
Carlson, Stacey, Era Dabla-Norris, Mika Saito, Yu Shi
Network Effects of International Shocks and Spillovers
Kireyev, Alexei and Andrei Leonidov
Pension Reforms in Mauritius: Fair and Fast—Balancing Social Protection and Fiscal Sustainability
Soto, Mauricio, Vimal Thakoor, Martin Petri
How to Improve the Effectiveness of Monetary Policy int he West African Economic and Monetary Union
Do Resource Windfalls Improve the Standard of Living in Sub-Saharan African Countries?: Evidence from a Panel of Countries
Munseob Lee, and Cheikh A. Gueye
Remittances and Macroeconomic Volatility in African Countries
Harnessing Resource Wealth for Inclusive Growth in Fragile States
Delechat, Corinne, Will Clark, Pranav Gupta, Malangu Kabedi-Mbuyi, Mesmin Koulet-Vickot, Carla Macario, Toomas Orav, Manuel Rosales, Renee Tapsoba, Dmitry Zhdankin, Susan Yang
Fiscal Policy Implications for Labor Market Outcomes in Middle-Income Countries
Stepanyan, Ara, and Lamin Leigh
Revisiting teh Concept of Dollarization: The Global Financial Crisis and Dollarization in Low-Income Countries
Mwase, Nkunde, and Francis Y. Kumah
Global Financial Transmission into Sub-Saharan Africa– A Global Vector Autoregression Analysis
Canales Kriljenko, Jorge Iván, Mehdi Hosseinkouchack, Alexis Meyer-Cirkel
Safe Debt and Uncertainty in Emerging Markets: An Application to South Africa
A Quality of Growth Index for Developing Countries: A Proposal
Mlachila, Montfort, Rene Tapsoba, Sampawende J.-A. Tapsoba
Introducing a Semi-Structural Macroeconomic Model for Rwanda
Charry, Luisa, Pranav Gupta, and Vimal Thakoor
How Solid is Economic Growth in the East African Community?
Gigineishvili, Nikoloz, Paolo Mauro, Ke Wang
Islamic Finance in Sub-Saharan Africa: Status and Prospects
Gelbard, Enrique, Mumtaz Hussain, Rodolfo Maino, Yibin Mu, Etienne B. Yehoue
Africa Rising: Harnessing the Demographic Dividend
Drummond, Paulo, Vimal Thakoor, and Shu Yu
Does Openness Matter for Financial Development in Africa?
David, Antonio, Montfort Mlachila, and Ashwin Moheeput
Surging Investment and Declining Aid: Evaluating Debt Sustainability in Rwanda
Clark, Will, and Birgir Arnason
Natural Gas, Public Investment and Debt Sustainability in Mozambique
Melina, Giovanni, and Yi Xiong
Africa’s Rising Exposure to China: How Large Are Spillovers Through Trade?
Drummond, Paulo, and Estelle X. Liu
Money Targeting in a Modern Forecasting and Policy Analysis System: an Application to Kenya
Andrle, Michal, Andrew Berg, Enrico Berkes, Rafael A Portillo, Jan Vlcek, R. Armando Morales
The Investment-Financing-Growth Nexus: The Case of Liberia
Clark, Will, and Manuel Rosales
Making Monetary Policy More Effective: The Case of the Democratic Republic of the Congo
Fischer, Felix, Charlotte J. Lundgren, Samir Jahjah
Fiscal Discipline in WAEMU: Rules, Institutions, and Markets
Hitaj, Ermal, and Yasin Kursat Onder
Inclusive Growth and Inequality in Senegal
Africa’s Got Work to Do: Employment Prospects in the New Century
Fox, Louise, Cleary Haines, Jorge Huerta Muñoz, Alun Thomas
Resource Dependence and Fiscal Effort in Sub-Saharan Africa
Thomas, Alun, and Juan P. Treviño
Benchmarking Structural Transformation Across the World
Dabla-Norris, Era, Alun H. Thomas, Rodrigo Garcia-Verdu, Yingyuan Chen
Tax Administration Reform in the Francophone Countries of Sub-Saharan Africa
Fossat, Patrick, and Michel Bua
Financial Depth in the WAEMU: Benchmarking Against Frontier SSA Countries
Ahokpossi, Calixte, Kareem Ismail, Sudipto Karmakar, Mesmin Koulet-Vickot
Investing Volatile Oil Revenues in Capital-Scarce Economies: An Application to Angola
Richmond, Christine, Irene Yackovlev, Shu-Chun Yang
Fiscal Sustainability, Public Investment, and Growth in Natural Resource-Rich, Low-Income Countries: The Case of Cameroon
Samaké, Issouf, Priscilla Muthoora, Bruno Versailles
Inclusive Growth: An Application of the Social Opportunity Function to Selected African Countries
Adedeji, Olumuyiwa, Huancheng Du, Maxwell Opoku-Afari
Inclusive Growth and the Incidence of Fiscal Policy in Mauritius—Much Progress, But More Could be Done
David, Antonio, and Martin Petri
The Quality of the Recent High-Growth Episode in Sub-Saharan Africa
Mlachila, Montfort, and Marcelo Martinez
Benchmarking Banking Sector Efficiency Across Regional Blocks in Sub-Saharan Africa: What Room for Policy?
Boutin-Dufresne, Francois, Santiago Peña, Oral Williams, Tomasz A. Zawisza
Monetary Transmission Mechanism in the East African Community: An Empirical Investigation
Davoodi, Hamid, Shiv Dixit, and Gabor Pinter
Determinants of Bank Interest Margins in Sub-Saharan Africa
Exchange Rate Liberalization in Selected Sub-Saharan African Countries: Successes, Failures, and Lessons
Mæhle, Nils, Haimanot Teferra, Armine Khachatryan
Inward and Outward Spillovers in the SACU Area
Canales-Kriljenko, Jorge Iván, Farayi Gwenhamo, Saji Thomas
Bond Markets in Africa
Mu, Yibin, Peter Phelps, and Janet Stotsky
Inequalities and Growth in the Southern African Customs Union (SACU) Region
Basdevant, Olivier, Dalmacio Benicio, Yorbol Yakhshilikov
Striking an Appropriate Balance Among Public Investment, Growth, and Debt Sustainability in Cape Verde
The East African Community: Prospects for Sustained Growth
McAuliffe, Catherine, Sweta Saxena, Masafumi Yabara
Financing Growth in the WAEMU through the Regional Securities Market: Past Successes and Current Challenges
Diouf, Mame Astou, and Francois Boutin-Dufresne
Exchange Rate and Foreign Interest Rate Linkages for Sub-Saharan Africa Floaters
A Financial Conditions Index for South Africa
Gumata, Nombulelo, Nir Klein, Eliphas Ndou
Estimating the Implicit Inflation Target of the South African Reserve Bank
Monetization in Low- and Middle-Income Countries
McLoughlin, Cameron, and Noriaki Kinoshita
The Relationship between the Foreign Exchange Regime and Macroeconomic Performance in Eastern Africa
Stotsky, Janet Gale, Olumuyiwa Adedeji, Manuk Ghazanchyan, Nils O. Maehle
Exchange Rate Pass-Through in Sub-Saharan African Economies and its Determinants
Razafimahefa, Ivohasina Fizara
Welfare Effects of Monetary Integration: The Common Monetary Area and Beyond
Asonuma, Tamon, Xavier Debrun, and Paul R. Masson
As You Sow So Shall You Reap: Public Investment Surges, Growth, and Debt Sustainability in Togo
Andrle, Michal, Antonio David, Raphael A. Espinoza, Marshall Mills, and Luis-Felipe Zanna
Tracking Short-Term Dynamics of Economic Activity in Low-Income Countries in the Absence of High-Frequency GDP Data
Opoku-Afari, Maxwell, and Shiv Dixit
Mobilizing Revenue in Sub-Saharan Africa: Empirical Norms and Key Determinants
Drummond, Paulo, Wendell Daal, Nandini Srivastava, and Luiz E. Oliveira
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 Monetary 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
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
Feeling the Elephant’s Weight: The Impact of Côte d’Ivoire’s Crisis on WAEMU Trade
Egoumé-Bossogo, Philippe, and Nayo Ankouvi
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