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Exchange Rate Liberalization in Selected Sub-Saharan African Countries Successes, Failures, and Lessons

Exchange Rate Liberalization in Selected Sub-Saharan African Countries Successes, Failures, and Lessons »

Source: Exchange Rate Liberalization in Selected Sub-Saharan African Countries Successes, Failures, and Lessons

Volume/Issue: 2013/32

Series: IMF Working Papers

Author(s): Nils Mæhle , Haimanot Teferra , and Armine Khachatryan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 January 2013

ISBN: 9781557756695

Keywords: reforms, growth, exchange rate, foreign exchange, exchange rate regime, real effective exchange rate, effective exchange rate, General, Open Economy Macroeconomics, Economic Growth of Open Economies

Many sub-Saharan African (SSA) countries liberalized their economies in the 1980s and early 1990s. This paper reviews the foreign exchange regime reforms in selected SSA, and their associated macroeconomic policies...

Exchange Rate Policy and the Management of Official and Private Capital Flows in Africa

Exchange Rate Policy and the Management of Official and Private Capital Flows in Africa »

Source: Exchange Rate Policy and the Management of Official and Private Capital Flows in Africa

Volume/Issue: 2004/216

Series: IMF Working Papers

Author(s): Catherine Pattillo , Stephen O'Connell , Christopher Adam , and Edward Buffie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2004

ISBN: 9781451875119

Keywords: Sterilization, Seigniorage, exchange rate, inflation, real exchange rate, foreign exchange, price level,

We focus on the management of highly persistent shocks to aid flows, including PRSP-related increases in net inflows, in three “post-stabilization.” African economies with de jure flexible exchange ra...

I Introduction

I Introduction »

Source: The Macroeconomics of Scaling Up Aid : Lessons from Recent Experience

Series: Occasional Papers

Author(s): Andrew Berg , Mumtaz Hussain , Shaun Roache , Amber Mahone , Tokhir Mirzoev , and Shekhar Aiyar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 March 2007

ISBN: 9781589065918

Keywords: Absorptive capacity, exchange rate, foreign exchange, inflation, real exchange rate, monetary policy

Aid facilitates a transfer of resources from donor to recipient countries that enables the recipients to increase consumption and investment. It thus presents an opportunity to reduce poverty, increase the s...

II Conceptual Framework and Its Application to Five Countries

II Conceptual Framework and Its Application to Five Countries »

Source: The Macroeconomics of Scaling Up Aid : Lessons from Recent Experience

Series: Occasional Papers

Author(s): Andrew Berg , Mumtaz Hussain , Shaun Roache , Amber Mahone , Tokhir Mirzoev , and Shekhar Aiyar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 March 2007

ISBN: 9781589065918

Keywords: Absorptive capacity, exchange rate, foreign exchange, inflation, real exchange rate, monetary policy

This chapter develops an analytical framework for examining policy responses to a surge in aid inflows, summarizes the evidence from a sample of five low-income countries, and seeks out general lessons that...

III Ethiopia

III Ethiopia »

Source: The Macroeconomics of Scaling Up Aid : Lessons from Recent Experience

Series: Occasional Papers

Author(s): Andrew Berg , Mumtaz Hussain , Shaun Roache , Amber Mahone , Tokhir Mirzoev , and Shekhar Aiyar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 March 2007

ISBN: 9781589065918

Keywords: Absorptive capacity, exchange rate, foreign exchange, inflation, real exchange rate, monetary policy

The Derg regime, a political dictatorship employing socialist central planning, held sway in Ethiopia from 1974 until its overthrow in 1991. After the totalitarian regime fell, the Ethiopian authorities impl...

Exchange Rate Liberalization in Selected Sub-Saharan African Countries Successes, Failures, and Lessons

Exchange Rate Liberalization in Selected Sub-Saharan African Countries Successes, Failures, and Lessons »

Volume/Issue: 2013/32

Series: IMF Working Papers

Author(s): Nils Mæhle , Haimanot Teferra , and Armine Khachatryan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 January 2013

DOI: http://dx.doi.org/10.5089/9781557756695.001

ISBN: 9781557756695

Keywords: reforms, growth, exchange rate, foreign exchange, exchange rate regime, real effective exchange rate, effective exchange rate, General, Open Economy Macroeconomics, Economic Growth of Open Economies

Many sub-Saharan African (SSA) countries liberalized their economies in the 1980s and early 1990s. This paper reviews the foreign exchange regime reforms in selected SSA, and their associated macroeconomic policies...

Exchange Rate Policy and the Management of Official and Private Capital Flows in Africa

Exchange Rate Policy and the Management of Official and Private Capital Flows in Africa »

Volume/Issue: 2004/216

Series: IMF Working Papers

Author(s): Catherine Pattillo , Stephen O'Connell , Christopher Adam , and Edward Buffie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2004

DOI: http://dx.doi.org/10.5089/9781451875119.001

ISBN: 9781451875119

Keywords: Sterilization, Seigniorage, exchange rate, inflation, real exchange rate, foreign exchange, price level,

We focus on the management of highly persistent shocks to aid flows, including PRSP-related increases in net inflows, in three “post-stabilization.” African economies with de jure flexible exchange ra...

Monetary Policy Rules for Managing Aid Surges in Africa

Monetary Policy Rules for Managing Aid Surges in Africa »

Volume/Issue: 2007/180

Series: IMF Working Papers

Author(s): Edward Buffie , Stephen O'Connell , Catherine Pattillo , and Christopher Adam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

DOI: http://dx.doi.org/10.5089/9781451867442.001

ISBN: 9781451867442

Keywords: Aid volatility, stochastic simulation models, exchange rate, inflation, foreign exchange, real exchange rate,

Since the turn of the century, aid flows to Africa have increased on average and become more volatile. As a result, policymakers, particularly in post-stabilization countries where inflation has only recently been...

IV Ghana

IV Ghana »

Source: The Macroeconomics of Scaling Up Aid : Lessons from Recent Experience

Series: Occasional Papers

Author(s): Andrew Berg , Mumtaz Hussain , Shaun Roache , Amber Mahone , Tokhir Mirzoev , and Shekhar Aiyar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 March 2007

ISBN: 9781589065918

Keywords: Absorptive capacity, exchange rate, foreign exchange, inflation, real exchange rate, monetary policy

Ghana’s economy has performed well in recent years compared with its regional peers. Per capita GDP growth averaged 1.6 percent annually in the 1990s. After a period of economic volatility around the turn of...

The Macroeconomics of Scaling Up Aid
			: Lessons from Recent Experience

The Macroeconomics of Scaling Up Aid : Lessons from Recent Experience »

Series: Occasional Papers

Author(s): Andrew Berg , Mumtaz Hussain , Shaun Roache , Amber Mahone , Tokhir Mirzoev , and Shekhar Aiyar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 March 2007

DOI: http://dx.doi.org/10.5089/9781589065918.084

ISBN: 9781589065918

Keywords: Absorptive capacity, exchange rate, foreign exchange, inflation, real exchange rate, monetary policy

This study analyzes key issues associated with large increases in aid, including absorptive capacity, Dutch disease, and inflation. The authors develop a framework that emphasizes the different roles of monetary an...