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Business and Economics > Production and Operations Management

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Cover Africa on the Move
Africa on the Move
Unlocking the Potential of Small Middle-Income States
Mr. Lamin Y Leigh
and
Mr. Ali M. Mansoor

Abstract

This book describes the reforms needed to move small middle-income countries in sub-Saharan Africa to advanced-economy status. The result of intense discussions with public officials in the countries covered, the book blends rigorous theory, econometrics, and practitioners' insights to come up with practical recommendations for policymakers. It spans topics from macroeconomic vulnerability and reserve adequacy to labor market institutions and financial inclusion. The book is a must-read for researchers interested in the economic issues facing developing countries in sub-Saharan Africa.

Keywords:
BOOK; government; reserve; Small Middle-Income Country; TFP growth; public employment; country authorities; design reserves management policy; bank distress; SMICs in sub-Saharan Africa; SMIC government; Total factor productivity; Public employment; Labor markets; Financial sector stability; Financial inclusion; Sub-Saharan Africa; Global; Eastern Europe; Africa; Southern Africa
Cover IMF Working Papers
Increasing Productivity Growth in Middle Income Countries
Aidar Abdychev
,
La-Bhus Fah Jirasavetakul
,
Mr. Andrew W Jonelis
,
Mr. Lamin Y Leigh
,
Ashwin Moheeput
,
Friska Parulian
,
Ara Stepanyan
, and
Albert Touna Mama
Many small middle-income countries (SMICs) in sub-Saharan Africa (SSA) have experienced a moderation in growth in recent years. Although factor accumulation, most notably capital deepening, was crucial to the success of many SMICs historically, this growth model appears to have run its course. The analysis in this paper suggests that the decline in the contribution of total factor productivity (TFP) to growth is largely responsible for the slowdown in trend growth in many SMICs, which highlights the need for policy actions to reinvigorate productivity growth. This paper explores the question of what kind of structural policies could boost productivity growth in SMICs and the political economy factors that may be contributing to the slow implementation of these critical reforms in these countries. The findings suggest that although macroeconomic stability and trade openness are necessary for productivity growth, they are not sufficient. SMICs need to improve the quality of their public spending, most notably in education to minimize the skill mismatch in the labor market, reduce the regulatory burden on firms, improve access to finance by small and medium-sized enterprises and create the enabling environment to facilitate structural transformation in these economies.
Keywords:
WP; TFP growth; GDP; TFP; labor market; Growth; Productivity; potential growth…; regulation indices; TFP determinant; TFP datum; FDI inflow; SMICs in SSA; long-run TFP growth; credit market; TFP contribution; Total factor productivity; Labor markets; Gender diversity; Africa; Sub-Saharan Africa; Global
Cover IMF Staff Country Reports
Namibia: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper analyzes policies that can raise potential growth in small middle-income countries (SMICs) of sub-Saharan Africa (SSA). The findings suggest that although macroeconomic stability and trade openness are necessary for productivity growth, they are not sufficient. SMICs in SSA need to improve the quality of their public spending, most notably on education, to solve the problem of skill mismatch in the labor market, reduce the regulatory burden on firms, improve access to financing by small and medium-size enterprises, and pave the way for structural transformation in these economies. Given the short-term cost of these reforms, the timing and sequencing of reforms and the role of quick wins is important for their implementation. In some cases, a social bargain can be a mechanism to generate consensus around a package of mutually reinforcing reforms.
Keywords:
ISCR; CR; solid windowtext 1pt; bank; TFP growth; bank distress; return on assets; default probability; government debt; TFP determinant; bank Z-score; Total factor productivity; Financial sector stability; Financial inclusion; Productivity; Small and medium enterprises; Global; Africa; determinants of total factor productivity; productivity enhancement; SMICs of SSA; growth decomposition; B. literature review