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Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa

Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa »

Source: Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa : Implications for Optimum Currency Arrangements

Volume/Issue: 1995/142

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Jonathan Ostry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1995

ISBN: 9781451927498

Keywords: Optimum Currency Areas, correlations, exchange rate, exchange rate arrangements, correlation, currency areas

Africa has more countries than any other continent, and hence the largest number of potential monetary and exchange rate arrangements. This paper looks at whether the existing highly fractured monetary arrangements...

Public Policies and Private Savings and Investment in Sub-Saharan Africa

Public Policies and Private Savings and Investment in Sub-Saharan Africa »

Source: Public Policies and Private Savings and Investment in Sub-Saharan Africa : An Empirical Investigation

Volume/Issue: 1995/19

Series: IMF Working Papers

Author(s): Dhaneshwar Ghura , and Michael Hadjimichael

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1995

ISBN: 9781451922523

Keywords: private investment, standard deviation, equation, dummy variables, correlation

This paper assesses empirically the role of public policies in stimulating private savings and investment in sub-Saharan African countries, based on data for the period 1986-92. The main findings of the analysis ar...

Fiscal Policy Implementation in Sub-Saharan Africa1

Fiscal Policy Implementation in Sub-Saharan Africa1 »

Source: Fiscal Policy Implementation in Sub-Saharan Africa

Volume/Issue: 2011/172

Series: IMF Working Papers

Author(s): Victor Lledo , and Marcos Poplawski-Ribeiro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

ISBN: 9781462314317

Keywords: policy implementation, budget institutions, statistic, budget balance, computation, correlation,

This paper investigates economic, political, and institutional constraints to fiscal policy implementation in sub-saharan Africa. We find that planned fiscal adjustments or expansions are less likely to be implemen...

The Terms of Trade and Economic Fluctuations

The Terms of Trade and Economic Fluctuations »

Source: The Terms of Trade and Economic Fluctuations

Volume/Issue: 1992/98

Series: IMF Working Papers

Author(s): Enrique Mendoza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1992

ISBN: 9781451852066

Keywords: terms of trade, correlation, standard deviation, import prices, statistics

A three-good, stochastic intertemporal equilibrium model of a small open economy is used to examine the link between terms of trade and business cycles. Equilibrium co-movements of model economies representing indu...

Trade and Industrialization in Developing Agricultural Economies1

Trade and Industrialization in Developing Agricultural Economies1 »

Source: Trade and Industrialization in Developing Agricultural Economies

Volume/Issue: 1999/145

Series: IMF Working Papers

Author(s): Athanasios Vamvakidis , and Sergei Dodzin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1999

ISBN: 9781451856521

Keywords: economic integration, free trade, international trade, trade share, correlation, statistic

This paper examines the impact of international trade on industrialization in developing agricultural economies. The findings show that developing agricultural economies that increased their openness during 1970-95...

Trade, Finance, Specialization, and Synchronization

Trade, Finance, Specialization, and Synchronization »

Source: Trade, Finance, Specialization, and Synchronization

Volume/Issue: 2003/81

Series: IMF Working Papers

Author(s): Jean Imbs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451850383

Keywords: specialization, financial openness, international business cycle, optimal currency area, financial integration, equation, correlations, correlation, bilateral trade, Open Economy Macroeconomics,

The paper investigates the determinants of business cycles synchronization across regions. It uses both international and intranational data to evaluate the linkages between trade in goods, trade in financial asset...

Measuring and Analyzing Sovereign Risk with Contingent Claims

Measuring and Analyzing Sovereign Risk with Contingent Claims »

Source: Measuring and Analyzing Sovereign Risk with Contingent Claims

Volume/Issue: 2005/155

Series: IMF Working Papers

Author(s): Michael Gapen , Dale Gray , Cheng Lim , and Yingbin Xiao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2005

ISBN: 9781451861747

Keywords: contingent claims, probability, currency debt, foreign currency debt, domestic currency, correlation,

This paper develops a comprehensive new framework to measure and analyze sovereign risk. Since traditional macroeconomic vulnerability indicators and accounting-based measures do not address risk in a comprehensive...

How Volatile and Unpredictable Are Aid Flows, and What Are the Policy Implications?

How Volatile and Unpredictable Are Aid Flows, and What Are the Policy Implications? »

Source: How Volatile and Unpredictable Are Aid Flows, and What Are the Policy Implications?

Volume/Issue: 2001/167

Series: IMF Working Papers

Author(s): A. Hamann , and Ales Bulir

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

ISBN: 9781451858181

Keywords: external aid, volatility, predictability, IMF-supported programs, correlation, prediction, aid flows,

This paper examines empirical evidence on the volatility and uncertainty of aid flows, and the main policy implications. Aid is found to be more volatile than fiscal revenues- particularly in highly aid-dependent c...

Volatility of Development Aid

Volatility of Development Aid »

Source: Volatility of Development Aid : From the Frying Pan into the Fire?

Volume/Issue: 2006/65

Series: IMF Working Papers

Author(s): A. Hamann , and Ales Bulir

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

ISBN: 9781451863253

Keywords: External aid, ODA, volatility, predictability, aid flows, correlation, Low Income Developing Countries,

The positive impact of foreign aid is limited by the erratic behavior of aid flows. The introduction in 1999 of various initiatives anchored in Poverty Reduction Strategy Papers (PRSPs) which were aimed at strength...

Pure Contagion and Investors Shifting Risk Appetite

Pure Contagion and Investors Shifting Risk Appetite »

Source: Pure Contagion and Investors Shifting Risk Appetite : Analytical Issues and Empirical Evidence

Volume/Issue: 2001/134

Series: IMF Working Papers

Author(s): Manmohan Kumar , and Avinash Persaud

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2001

ISBN: 9781451855609

Keywords: Risk aversion, contagion affects, financial crises, contagion, correlation, probability, currency crises, Financial Institutions and Services: General,

This paper discusses a "pure" form of financial contagion, unrelated to economic fundamentals - investors' shifting appetite for risk. It provides an analytical framework for identifying changes in investors' risk...