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Africa > Malawi

You are looking at 1 - 7 of 7 items for :

  • Type: Journal Issue x
  • Earth Sciences, Geography, Environment x
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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 Working Papers
Aid and Growth at the Regional Level
Axel Dreher
and
Steffen Lohmann
This paper brings the aid effectiveness debate to the sub-national level. We hypothesize the nonrobust results regarding the effects of aid on development in the previous literature to arise due to the effects of aid being insufficiently large to measurably affect aggregate outcomes. Using geocoded data for World Bank aid to a maximum of 2,221 first-level administrative regions (ADM1) and 54,167 second-level administrative regions (ADM2) in 130 countries over the 2000-2011 period, we test whether aid affects development, measured as nighttime light growth. Our preferred identification strategy exploits variation arising from interacting a variable that indicates whether or not a country has passed the threshold for receiving IDA's concessional aid with a recipient region's probability to receive aid, in a sample of 478 ADM1 regions and almost 8,400 ADM2 regions from 21 countries. Controlling for the levels of the interacted variables, the interaction provides a powerful and excludable instrument. Overall, we find significant correlations between aid and growth in ADM2 regions, but no causal effects.
Keywords:
WP; effect of aid; IDA-threshold effect; level of significance; term growth-effect; Aid Effectiveness; Geo-coding; World Bank; rainfall growth; aid-growth regression; growth OLS; IDA threshold; Agroindustries; Personal income; Population growth; Africa; Central Asia; South Asia; Global
Cover Departmental Papers
Mozambique Rising: Building a New Tomorrow
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.
Keywords:
DPPP; DP; natural resource; foreign direct investment; private sector; exchange rate; economic growth; resource revenue; civil war; management system; primary sector
Cover Departmental Papers
Mozambique Rising: Building a New Tomorrow
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.
Keywords:
DPPP; DP; natural resource; foreign direct investment; private sector; exchange rate; economic growth; resource revenue; civil war; management system; primary sector; per capita income; distribution network; investment project; stabilization fund; Public investment and public-private partnerships (PPP); Public investment spending; Natural resources; Infrastructure; Agricultural sector; Sub-Saharan Africa; Africa; Global; Southern Africa
Cover Departmental Papers
La montée en puissance du Mozambique — Construire un nouveau lendemain
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.
Keywords:
DPPP; DP; natural resource; foreign direct investment; private sector; exchange rate; economic growth; resource revenue; civil war; management system; primary sector
Cover IMF Working Papers
Debt Sustainability, Public Investment, and Natural Resources in Developing Countries: the DIGNAR Model
Mr. Giovanni Melina
,
Ms. Susan S. Yang
, and
Luis-Felipe Zanna
This paper presents the DIGNAR (Debt, Investment, Growth, and Natural Resources) model, which can be used to analyze the debt sustainability and macroeconomic effects of public investment plans in resource-abundant developing countries. DIGNAR is a dynamic, stochastic model of a small open economy. It has two types of households, including poor households with no access to financial markets, and features traded and nontraded sectors as well as a natural resource sector. Public capital enters production technologies, while public investment is subject to inefficiencies and absorptive capacity constraints. The government has access to different types of debt (concessional, domestic and external commercial) and a resource fund, which can be used to finance public investment plans. The resource fund can also serve as a buffer to absorb fiscal balances for given projections of resource revenues and public investment plans. When the fund is drawn down to its minimal value, a combination of external and domestic borrowing can be used to cover the fiscal gap in the short to medium run. Fiscal adjustments through tax rates and government non-capital expenditures—which may be constrained by ceilings and floors, respectively—are then triggered to maintain debt sustainability. The paper illustrates how the model can be particularly useful to assess debt sustainability in countries that borrow against future resource revenues to scale up public investment.
Keywords:
WP; natural resource; Natural resources; Public Investment; Debt Sustainability; Small Open DSGE Models; DIGNAR; Developing Countries; investment path; scaling-up investment target; investment efficiency; investment adjustment cost parameter; investment approach; investment scaling-up path; resource revenue; Public investment spending; Commercial borrowing; Consumption taxes; Sub-Saharan Africa; Africa
Cover Trade Reform and Regional Integration in Africa
Trade Reform and Regional Integration in Africa

Abstract

Edited by Zubair Iqbal and Mohsin Khan, this volume is a collection of papers given at a seminar on trade issues in Africa, conducted by the IMF nad the African Economic Research Consortium. It represents the views of government officials, academics, and representatives from multilateral and regional agencies on issues relating to trade reform and regionalism in Africa. Issues include the role of trade liberalization in promoting sustained growth, interdependence of trade and macroeconomic policies, impediments to effective trade reforms, the steps needed to accelerate trade reform, and the importance of regional interaction.

Keywords:
BOOK; liberalization; country; trade; trade reform; IMF Headquarters; trade diversion; a number of AERC-supported researcher; PTA trade liberalization program; Tariffs; Trade policy; Trade liberalization; Exports; Imports; Africa; Sub-Saharan Africa; Southern Africa; East Asia; West Africa