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Africa > Malawi

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Cover IMF Working Papers
How do Climate Shocks Affect the Impact of FDI, ODA and Remittances on Economic Growth?
Alassane Drabo
The three main financial inflows to developing countries have largely increased during the last two decades, despite the large debate in the literature regarding their effects on economic growth which is not yet clear-cut. An emerging literature investigates the dependence of their effects on some country characteristics such as human and physical capital constraint, macroeconomic policy and institutional capacity. This paper extends the literature by arguing that climate shocks may undermine the effect of Foreign Direct Investment (FDI), official development assistance (ODA) and migrants’ remittances on economic expansion. Based on neoclassical growth framework, the theoretical model indicates that FDI, ODA, and remittances improve economic growth, and the size of the effect increases with good absorptive capacity. However, climate shocks reduce this positive effect of financial flows in developing countries. Using a sample of low and middle-income countries from 1995 to 2018, the empirical investigation confirms the theoretical conclusions. Developing countries should build strong resilience to climate change. Actions are also needed at global level to reduce greenhouse gases emissions, and build strong structural resilience to climate shocks especially in developing countries.
Keywords:
inflows-economic growth nexus; effect of ODA; income group; role of Climate; effect of foreign direct investment; Climate change; Absorptive capacity; Foreign direct investment; Human capital; Middle East; East Asia; Asia and Pacific; North Africa; South Asia; Global
Cover IMF Staff Country Reports
Malawi: Second Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria
International Monetary Fund. African Dept.
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; policy reform; government; reform; amount; policy; government commitment control; policy initiative; policy advice; difficulty meeting liquidity requirement; Budget planning and preparation; International reserves; Wage adjustments; Global
Cover IMF Working Papers
Global Shocks and their Impacton Low-Income Countries: Lessons From theglobal Financial Crisis
Mr. Chris Papageorgiou
,
Hans Weisfeld
,
Ms. Catherine A Pattillo
,
Mr. Martin Schindler
,
Mr. Nikola Spatafora
, and
Mr. Andrew Berg
This paper investigates the short-run effects of the 2007-09 global financial crisis on growth in (mainly non-fuel exporting) low-income countries (LICs). Four conclusions stand out. First, for many individual LICs, 2009 was not extraordinarily calamitous; however, aggregate LIC output declined sharply because LICs were unusually synchronized. Second, the growth declines are on average well explained by the decline in export demand. Third, if the external environment facing LICs improves as forecast, their growth should rebound sharply. Finally, and contrary to received wisdom, there are few robust relationships between the cross-country growth variation and the policy and structural environment; the main exceptions are reserve coverage and labor-market flexibility.
Keywords:
WP; growth rate; Per-Capita GDP Growth; Global financial crisis; Low-income countries; External shocks; Short-run growth; external demand; non-fuel-exporting middle-income countries; regression analysis; demand growth; FDI shock; terms of trade growth; Terms of trade; Foreign direct investment; Production growth; Labor market flexibility; Exchange rate arrangements; Global
Cover IMF Working Papers
Aid Scaling Up: Do Wage Bill Ceilings Stand in the Way?
Ms. Annalisa Fedelino
,
Mr. Gerd Schwartz
, and
Marijn Verhoeven
This paper assesses whether the scaling up of aid and the resulting increase in government spending that is needed to meet the Millennium Development Goals (MDGs) would be hampered by wage bill ceilings that are often part of government programs supported by the IMF's Poverty Reduction and Growth Facility (PRGF). Based on country case studies for 2003-05, the paper suggests that, in the past, wage bill ceilings have not restricted the use of available donor funds. Yet the paper offers a number of suggestions for further enhancing the flexibility of wage bill conditionality in PRGF-supported programs to respond to higher aid flows that may result in the future.
Keywords:
WP; wage bill; bill ceiling; bill conditionality; bill adjuster; bill PC; IMF conditionality; aid scaling up; MDGs; Wages; Public sector wages; Wage adjustments; Civil service reform; Government wage bill; Sub-Saharan Africa; Central America
Cover IMF Staff Country Reports
Malawi: Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PGRF) and Additional Interim Assistance Under the Enhanced HIPC Initiative
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; pension formula; pension; staff appraisal; government; spending plan; program of economic reform; government's program; Budget planning and preparation; Public sector wages; Poverty reduction strategy; Global; Sub-Saharan Africa; Africa
Cover IMF Staff Country Reports
Malawi: Staff—Monitored Program
International Monetary Fund
This paper examines the Staff-Monitored Program (SMP) for Malawi. The authorities have requested staff monitoring of their macroeconomic program for the 2004/05 fiscal year (June–July) with a view to establishing a performance track record that could lead to a new Poverty Reduction and Growth Facility (PRGF) arrangement. The main objectives of the SMP will only be achieved if the approved 2004/05 (June–July) budget is in line with the agreed budget framework and the monetary overhang is addressed. Structural measures under the SMP will focus on public expenditure management.
Keywords:
ISCR; CR; net; budget; GDP; Malawi; debt relief; spending target; RBM bill; budget framework; donor disbursement; unbudgeted spending; Debt relief; Budget planning and preparation; Public sector wages
Cover IMF Staff Papers
IMF Staff Papers, Volume 51, No. 1
International Monetary Fund. Research Dept.
This first issue of Volume 51 for 2004 includes a new paper by Peter B. Clark and Jacques J. Polak, along with a tribute from the Editor to Mr. Polak in honor of his 90th birthday. This issue also launches a new featured section, "Data Issues," which will be devoted in future issues to on-going discussions of the latest in econometric and statistical tools for economists, data puzzles, and other related topics of interest to researchers.
Keywords:
SP; data puzzle; preassembled data; Brazil-type debt crisis; country credit ratings; topics of research interest; Commercial banks; Exports; Price indexes; Corruption; Real wages; East Asia; Global; Sub-Saharan Africa; Asia and Pacific
Cover Policy Papers
A Review of the Fund's External Communications Strategy
International Monetary Fund
This paper reviews implementation of the Fund’s external communications strategy and suggests issues that the Board may wish to discuss at its third meeting since 1998 on the subject. The strategy has been shaped by the previous Board discussions and more recent decisions and discussions on transparency, conditionality, PRSP/PRGF, the Independent Evaluation Office, and other issues. This paper represents more of a stocktaking than a fundamental reconsideration of the Fund’s approach to external communications. It examines the progress made in recent years and steps that might be taken with current resources to increase the effectiveness of the strategy.
Keywords:
PP; fund staff; transparency policy; economic policy; Fund authors review; fund management; Fund publication; policy advice; Fund mission; webcasting capacity; Fund program; Communications in revenue administration; Civil society organizations; Labor unions; Global; Middle East
Cover Social Safety Nets
Social Safety Nets
Issues and Recent Experience

Abstract

The 14 papers that comprise this book, edited by Ke-young Chu and Sanjeev Gupta, provide a comprehensive review of the IMF's work on social safety nets. Part I provides a broad overview of the social concerns in structural policy and the basic work related to social safety nets. Part II deals with the design of social safety nets. Part III provides case studies on nine countries from different parts of the world.

Keywords:
BOOK; government; price; wage bill; retirement age; price effect; ESAF program; transition country; Income; Pension spending; Social assistance spending; Wages; Personal income; Eastern Europe; Baltics; Africa; Sub-Saharan Africa; Middle East; East Asia; Pensions; Caribbean
Cover IMF Working Papers
Assessing the Impact of Structural Adjustmenton the Poor: The Case of Malawi
Mr. Odd Per Brekk
and
Mr. Ronald P Hicks
This paper applies, through a case study on Malawi, a simple methodology indicating the first-round (i.e., price) effects of macroeconomic policies on real earnings of the poor. As the economic program in Malawi has not involved substantial exchange rate action or cuts in subsidies, the real incomes of the poor have been most clearly affected by the pricing policies of the agricultural parastatal and the overall anti-inflationary measures incorporated in the program; developments in minimum wages have also been important. The study suggests that, on balance, these various factors have led to an increase in real incomes of the poor over the program period.
Keywords:
WP; earnings; price; Malawi; low income; nominal wage; expenditure pattern; ESAF program; structural adjustment; price effect; price deceleration; fertilizer price; import liberalization program; ADMARC price; Income; Real wages; Wages; Inflation; Southern Africa