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Africa > Uganda

You are looking at 1 - 3 of 3 items for :

  • Type: Journal Issue x
  • Macroeconomics and Monetary Economics x
  • Human capital x
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Cover IMF Working Papers
Beyond Macroeconomic Stability: The Quest for Industrialization in Uganda
Mr. Abebe Aemro Selassie
Uganda has registered one of the most impressive economic turnarounds of recent decades. The amelioration of conflict and wide ranging economic reforms kick-started rapid economic growth that has now been sustained for some 20 years. But there is a strong sense in policy making circles that despite macroeconomic stability and reasonably well functioning markets, economic growth has not translated into significant structural transformation. This paper considers (i) Uganda's record of economic transformation relative to the high growth Asian countries and (ii) the contending explanations as to why more transformation and higher growth has proved elusive.
Keywords:
WP; SG country; exchange rate; per capita income; growth acceleration; economic activity; take-off date
Cover IMF Working Papers
Composition of Government Expenditure, Human Capital Accumulation, and Welfare
Mr. John J Matovu
This paper uses a dynamic general equilibrium model calibrated to Ugandan data to examine the welfare effects of alternative scenarios of government expenditure and tax financing. Two expenditure types are considered: social spending that affects human capital, and infrastructure expenditures that affect productivity. The paper finds that social expenditures lead to higher economic growth depending on the form of financing; young generations benefit most from social spending financed by consumption taxes; agents do not substitute between human and physical capital as a result of changes in expenditure composition; and improving the productivity of fiscal expenditure is both growth and welfare enhancing.
Keywords:
WP; capital stock; physical capital; public expenditure; government expenditure; welfare; growth; tax financing; infrastructure expenditure; age-consumption profile; expenditure policy change; policy reform; aggregate consumption; government investment expenditure; financing expenditure; Human capital; Health care spending; Consumption taxes; Education spending; Africa; Sub-Saharan Africa
Cover IMF Working Papers
Inflation, Disinflation, and Growth
Mr. Atish R. Ghosh
and
Mr. Steven T Phillips
Although few would doubt that very high inflation is bad for growth, there is much less agreement about moderate inflation’s effects. Using panel regressions and a nonlinear specification, this paper finds a statistically and economically significant negative relationship between inflation and growth. This relationship holds at all but the lowest inflation rates and is robust across various samples and specifications. The method of binary recursive trees identifies inflation as one the most important statistical determinants of growth. Finally, while there are short-run growth costs of disinflation, these are only relevant for the most severe disinflations, or when the initial inflation rate is well within the single-digit range.
Keywords:
WP; rate of inflation; GDP growth; exchange rate; terms of trade; inflation; growth determinants; growth regressions; robustness; inflation-growth relationship; inflation coefficient; inflation-growth association; Disinflation; Human capital; Agroindustries; Public expenditure review; Global