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International Monetary Fund. African Dept.
This Selected Issues paper presents an external stability assessment on Niger. Niger’s current account balance deteriorated in 2013, mostly on account of higher food and capital goods imports. The deficit is expected to widen further in 2014–15, mainly driven by large investment in the extractive industry and basic infrastructure. The current account is projected to gradually improve from 2016 as important projects in infrastructure will come to end, the oil and mining sectors come on stream and public and private savings increase. Although aid and foreign direct investments are the main sources of external financing, external borrowing–mainly on concessional terms–has increased significantly.
Ms. Doris C Ross, Victor Duarte Lledo, Mr. Alex Segura-Ubiergo, Mr. Yuan Xiao, Ms. Iyabo Masha, Mr. Alun H. Thomas, and Mr. Keiichiro Inui
The countries in the East African Community (EAC) are among the fastest-growing economies in sub-Saharan Africa. This report highlights Mozambique’s remarkably strong growth over the two decades since the end of the civil war in 1992, as well as the major challenges that remain for the country to rise out of poverty and further its economic development.
Ms. Doris C Ross, Victor Duarte Lledo, Mr. Alex Segura-Ubiergo, Mr. Yuan Xiao, Ms. Iyabo Masha, Mr. Alun H. Thomas, and Mr. Keiichiro Inui
This publication highlights Mozambique’s remarkably strong growth over the two decades since the end of the civil war in 1992, as well as the major challenges that remain for the country to rise out of poverty and further its economic development. Chapters explore such topics as the role of megaprojects and their relationship to jobs and growth; infrastructure and public investment; Mozambique's quest for inclusive growth; developing the agricultural sector; and building a social protection floor.
Ms. Doris C Ross, Victor Duarte Lledo, Mr. Alex Segura-Ubiergo, Mr. Yuan Xiao, Ms. Iyabo Masha, Mr. Alun H. Thomas, and Mr. Keiichiro Inui
La présente publication met en exergue la croissance remarquablement vigoureuse du Mozambique au cours des vingt dernières années depuis la fin de la guerre civile en 1992, ainsi que les obstacles principaux que le pays doit encore surmonter pour sortir de la pauvreté et poursuivre son développement économique. Les chapitres portent entre autres sur les thèmes suivants : le rôle des mégaprojets et leur rapport à l'emploi et la croissance ; l'infrastructure et l'investissement public ; le Mozambique sur la voie de la croissance inclusive ; le développement du secteur agricole ; et l'établissement d'un socle de protection sociale.
International Monetary Fund
The cotton sector in Mali is facing major challenges to overcome, with low export prices, technical hurdles, and a poorly performing state-owned cotton ginner. Some reforms, most notably with regard to the setting of the farmgate procurement price, have already been undertaken, but more is needed to put the sector on a sound financial footing. It is vital that the production process be modernized and the ginner profoundly reformed if cotton is to play a major role in poverty reduction in rural Mali.
Mr. John Thornton, Fabian Bornhorst, and Mr. Sanjeev Gupta
The recent development literature stresses that countries that receive large revenues from natural resource endowments typically raise less revenue from domestic taxation, and that this creates governance problems because the lower domestic tax effort reduces the incentive for the public scrutiny of government. Our results from a panel of 30 hydrocarbon producing countries indicate that the offset between hydrocarbon revenues and revenues from other domestic sources is about 20 percent but that it is invariant to governance indicators.
International Monetary Fund

Abstract

This guide is designed to facilitate classroom use of The Fabric of Reform, a 30-minute educational video created by the International Monetary Fund. It is intended for use with students in economics and international relations courses at the secondary and postsecondary levels.

Mr. Jeromin Zettelmeyer
After the break-up of the Soviet Union, Uzbekistan’s output fell less than in any other former Soviet Republic, and growth turned positive in 1996/97. Given the country’s hesitant and idiosyncratic approach to reforms, this record has suprised many observers. This paper first shows that a standard panel model of growth in transition systematically underpredicts Uzbek growth from 1992-1996, confirming the view that Uzbekistan’s performance consitutes a puzzle. It then attempts to resolve the puzzle by appropriately extending the model. The main result is that Uzbekistan’s output performance was driven by a combination of low initial industrialization, its cotton production, and its self-sufficiency in energy.
International Monetary Fund. External Relations Dept.
This paper highlights that the distribution of income and wealth in developing countries has become a matter of great concern to all those interested in development. The paper highlights that in Latin America, the poorest half of the population receives about the same share of income as the top 1 percent and the lowest 70–75 percent of the population the same share as the top 5 percent. It is clear that the distribution of income and wealth will have substantial implications for the pattern of consumption and production in developing countries.