Back Matter

Back Matter

International Monetary Fund
Published Date:
October 2014
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    Abiad, Abdul, JohnBluedorn, JaimeGuajardo, and PetiaTopalova, 2012, “The Rising Resilience of Emerging Market and Developing Economies,” IMF Working Paper 12/300 (Washington: International Monetary Fund).

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    Africa Progress Panel, 2013, “Equity in Extractives: Stewarding Africa’s Natural Resources for All,” Africa Progress Report (Switzerland: Geneva).

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    African Development Bank Group, 2013, “The Africa Infrastructure Development Index (AIDI)” (Tunis).

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    African Development Bank Group, 2014, “From Fragility to Resilience: Managing Natural Resources in Fragile States in Africa” (Tunis).

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    Akitoby, Bernardin, RichardHemming, and GerdSchwartz, 2007, “Public Investment and Public-Private Partnerships, IMF Economic Issues 40” (Washington: International Monetary Fund).

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    Alleyne, Trevor, 2013, “Energy Subsidy Reform in Sub-Saharan Africa; Experiences and Lessons,” African Departmental Paper No. 13/2 (Washington: International Monetary Fund).

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    Andriamihaja, Noro Aino, MatthiasCinyabuguma, and ShantayananDevarajan, 2011, “Avoiding the Fragility Trap in Africa,” Policy Research Working Paper 5884 (Washington: World Bank).

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    Arbache, Jorge Saba, and JohnPage, 2007, “More Growth or Fewer Collapses? A New Look at Long Run Growth in Sub-Saharan Africa” (Washington: World Bank).

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    Berg, Andrew, Jonathan D.Ostry, and JerominZettelmeyer, 2008, “What Makes Growth Sustained?” IMF Working Paper 08/59 (Washington: International Monetary Fund).

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    Bertocchi, Graziella, and DavideGuerzoni, 2010, “The Fragile Definition of State Fragility,” Working Paper 43 (Modena: University of Modena).

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    Besley, Timothy, and TorstenPersson, 2011, “Pillars of Prosperity: The Political Economics of Development Clusters” (Princeton: Princeton University Press).

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    Blattman, Christopher, and EdwardMiguel, 2010, “Civil War,” Journal of Economic Literature48(1): 3–57.

    Briceño-Garmendia, Cecilia, and MariaShkaratan, 2011, “Kenya’s Infrastructure: A Continental Perspective,” World Bank Policy Research Paper No. 5596 (Washington: World Bank).

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    Brin, Sergey, and Larry Page, 1998, “The Anatomy of a Large-Scale Hypertextual Web Search Engine. Proceedings of the 7th World-Wide Web Conference” (Brisbane: Australia).

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    Carment, David, and YiagadeesenSamy, 2012, “Assessing State Fragility: Country Indicators for Foreign Policy Report,” Country Indicators for Foreign Policy & Norman Paterson School of International Affairs.

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    Chauvet, Lisa, and PaulCollier, 2008, “What Are the Preconditions for Turnarounds in Failing States?” Conflict Management and Peace Science25(4): 332–48.

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    Cilliers, Jakkie, and Timothy D.Sisk, 2013, “Assessing Long-Term State Fragility in Africa: Prospects for 26 ‘more fragile’ countries.” Institute for Security Studies (South Africa: Pretoria).

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    Collier, Paul, and A.Hoeffler, 2004, “Conflicts, Chapter 3, Global Crises: Global Solutions” (Cambridge: Cambridge University Press).

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    Collier, Paul, and A.Hoeffler, 2012, “Small Countries and Big Resources: Harnessing Natural Resources for Development in the G7 Countries” (Washington: World Bank Institute).

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    Collier, Paul, A.Hoeffler, and ColinMayer, 2014, “Unlocking Private Finance for African Infrastructure” (Oxford: Oxford University).

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    Dabla-Norris, Era, RichardAllen, Luis-FelipeZanna, TejPrakash, EteriKvintradze, VictorLledo, IreneYackovlev, and SophiaGollwitzer, 2010, “Budget Institutions and Fiscal Performance in Low-Income Countries,” IMF Working Paper 10/80 (Washington: International Monetary Fund).

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    David, Antonio C., FabianoRodriguez Bastos, and MarshallMills, 2011, “Post-Conflict Recovery: Institutions, Aid, or Luck?” IMF Working Paper 11/149 (Washington: International Monetary Fund).

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    Fama, Eugene F., 1984, “Forward and Spot Exchange Rates,” Journal of Monetary Economics 14: 319–38.

    Fearon, James D., and David D.Laitin, 2003, “Ethnicity, Insurgency, and Civil War,” American Political Science Review97(1): 75–90.

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    Feeny, Simon, and MarkMcGillivray, 2009, “Aid allocation to fragile states: Absorptive capacity constraints,” Journal of International Development21(5): 618–33.

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    Foster, Vivien, and CeciliaBriceño-Garmendia, 2010, “Africa’s Infrastructure: A Time for Transformation,” Africa Development Forum series (Washington: World Bank).

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    Gollwitzer, Sophia, 2011, “Budget Institutions and Fiscal Performance in Africa,” Journal of African Economies20(1):111–52.

    Hansen, L.P., and Robert J.Hodrick, 1980, “Forward Exchange Rates as Optimal Predictors of Future Spot Rates: An Econometric Analysis,” Journal of Political Economy (Chicago: University of Chicago Press).

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    Hirschleifer, Jack, 1991, “The Paradox of Power,” Economics and Politics 3: 177–200.

    Infrastructure Consortium for Africa (ICA), 2009, “Financial Commitments and Disbursements for Infrastructure in Africa,” Annual Report.

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    Infrastructure Consortium for Africa (ICA), 2012, “Infrastructure Financing Trends in Africa,” Annual Report.

    International Monetary Fund, 2007, “Issues Paper on Public Private Partnerships and Fiscal Risks” (Washington).

    International Monetary Fund, 2011a, “Macroeconomic and Operational Challenges in Countries in Fragile Situations,” IMF Policy Paper (Washington, April).

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    International Monetary Fund, 2011b, Regional Economic Outlook: Sub-Saharan Africa (Washington, April).

    International Monetary Fund, 2013a, Regional Economic Outlook: Sub-Saharan Africa (Washington, May).

    International Monetary Fund, 2013b, “Trade Interconnectedness: The World with Global Value Chains,” IMF Policy Paper (Washington).

    International Monetary Fund, 2014a, Regional Economic Outlook: Sub-Saharan Africa (Washington, April).

    International Monetary Fund, 2014b, Spillover Report (Washington, July).

    International Monetary Fund, 2014c, “Guidance Note on the Fund’s Engagement with Small Developing States,” IMF Policy Paper (Washington).

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    International Monetary Fund, 2014d, World Economic Outlook: “Is it Time for an Infrastructure Push? The Macroeconomic Effects of Public Investment,”World Economic and Financial Surveys (Washington, October).

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    International Monetary Fund, 2014e, “Macroeconomic Development in Low-Income Developing Countries” (Washington, October).

    Jakobsen, Tor Georg, Indrade Soysa, and JoJakobsen, 2013, “Why Do Poor Countries Suffer Costly Conflict? Unpacking Per Capita Income and the Onset of Civil War,” Conflict Management and Peace Science30(2): 120–40.

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    Organisation for Economic Co-operation and Development (OECD), 2013, “Resource Flows and Trends in a Shifting World” (Paris).

    OECD-AfDB, 2014a, “Seminar on addressing policy impediments to private investment in African infrastructure: Summary of discussions & way forward” (Paris).

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    OECD-AfDB, 2014b, “Fragile States 2014: Domestic Revenue Mobilisation in Fragile States” (Paris).

    Orefice, Gianluca, and NadiaRocha, 2011, “Deep Integration and Production Networks: an Empirical Analysis,” World Trade Organization Staff Working Paper ERSD-2011–11 (Geneva: World Trade Organization).

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    Pattillo, Catherine, SanjeevGupta, and KevinCarey, 2005, “Sustaining Growth Accelerations and Pro-Poor Growth in Africa,” IMF Working Paper 05/195 (Washington: International Monetary Fund).

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    Pritchett, Lant, MichaelWoolcock, and MattAndrews, 2013, “Looking Like a State: Techniques of Persistent Failure in State Capability for Implementation,” Journal of Development Studies49(1): 1–18.

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    Standard & Poor’s, 2012, “How Europe’s New Credit Enhancements for Project Finance Bonds Could Affect Ratings” (November).

    The Fragility Spectrum, 2013, “Note on the G7 Fragility Spectrum” (Kinshasa: Democratic Republic of the Congo).

    United Nations Economic Commission for Africa, 2009, “Africa Review Report on Transport,” Sixth Session of the Committee on Food Security and Sustainable Development Regional Implementation Meeting (Ethiopia: Addis Ababa).

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    World Bank, 2011, World Development Report (Washington).

    World Bank, and African Development Bank, 2013, “The Transformational Use of Information and Communication Technologies in Africa.”

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Publications of the IMF African Department, 2009–14

Books and Monographs


  • Building a Common Future in Southern Africa
  • Mongardini, Joannes, Tamon Asonuma, Olivier Basdevant, Alfredo Cuevas, Xavier Debrun, Lars Holger Engstrom, Imelda M. Flores Vazquez, Vitaliy Kramarenko, Lamin Leigh, Paul R. Masson, and Geneviève Verdier


  • Oil Wealth in Central Africa: Policies for Inclusive Growth
  • Coorey, Sharmini, and Bernardin Akitoby


  • The Impact of the Global Financial Crisis on Sub-Saharan Africa
  • African Department


  • Tanzania: The Story of an African Transition
  • Nord, Roger, Yuri Sobolev, David Dunn, Alejandro Hajdenberg, Niko Hobdari, Samar Maziad, and Stéphane Roudet

Departmental Papers


  • Mozambique Rising: Building a New Tomorrow
  • Doris C. Ross, Victor Duarte Lledo, Alex Segura-Ubiergo, Yuan Xiao, Iyabo Masha, Alun H. Thomas, and Keiichiro Inui


  • The Mystery of Missing Real Spillovers in Southern Africa: Some Facts and Possible Explanations
  • Olivier Basdevant, Andrew W Jonelis, Borislava Mircheva, and Slavi T. Slavov


  • Issuing International Sovereign Bonds: Opportunities and Challenges for Sub-Saharan Africa
  • Mauro Mecagni, Jorge Iván Canales Kriljenko, Cheikh A. Gueye, Yibin Mu, Masafumi Yabara, and Sebastian Weber


  • Managing Volatile Capital Flows: Experiences and Lessons for Sub-Saharan African Frontier Markets
  • Cheikh A. Gueye, Javier Arze del Granado, Rodrigo Garcia-Verdu, Mumtaz Hussain, B. Jang, Sebastian Weber, and Juan S Corrales


  • Mali: Achieving Strong and Inclusive Growth with Macroeconomic Stability
  • Christian Josz


  • Responding to Shocks and Maintaining Stability in the West African Economic and Monetary Union
  • Kolerus, Christina, Aleksandra Zdzienicka, Ermal Hitaj, and Douglas J. Shapiro


  • West African Economic and Monetary Union: Financial Depth and Macrostability
  • Imam, Patrick A., and Christina Kolerus


  • Senegal: Financial Depth and Macrostability
  • Imam, Patrick A., and Christina Kolerus


  • Senegal: Achieving High and Inclusive Growth While Preserving Fiscal Sustainability
  • Kireyev, Alexei, and Gaston K. Mpatswe


  • Banking in Sub-Saharan Africa: The Macroeconomic Context
  • Mlachila, Montfort, Seok Gil Park, and Masafumi Yabara


  • Energy Subsidy Reform in Sub-Saharan Africa: Experiences and Lessons
  • Alleyne, Trevor, Mumtaz Hussain


  • Boom, Bust, or Prosperity? Managing Sub-Saharan Africa’s Natural Resource Wealth
  • Lundgren, Charlotte J., Alun H. Thomas, and Robert C. York


  • Restoring Sustainability in a Changing Global Environment: Options for Swaziland
  • Basdevant, Olivier, Emily Forrest, and Borislava Mircheva


  • Macroeconomic Vulnerabilities Stemming from the Global Economic Crisis: The Case of Swaziland
  • Basdevant, Olivier, Chikako Baba, and Borislava Mircheva


  • What Do Fast Job Creators Look Like? Some Stylized Facts and Perspectives on South Africa
  • Zhan, Zaijin


  • South Africa: Macro Policy Mix and Its Effects on Growth and the Real Exchange Rate—Empirical Evidence and GIMF Simulations
  • Canales-Kriljenko, Jorge Iván


  • Measuring the Potential Output of South Africa
  • Klein, Nir


  • In the Wake of the Global Economic Crisis: Adjusting to Lower Revenue of the Southern African Customs Union in Botswana, Lesotho, Namibia, and Swaziland
  • Mongardini, Joannes, Dalmacio Benicio, Thomson Fontaine, Gonzalo C. Pastor, and Geneviève Verdier


  • Zimbabwe: Challenges and Policy Options after Hyperinflation
  • Kramarenko, Vitaliy, Lars H. Engstrom, Geneviève Verdier, Gilda Fernandez, Stefan E. Oppers, Richard Hughes, James McHugh, and Warren L. Coats


  • Expenditure Composition and Economic Developments in Benin
  • Pani, Marco, and Mohamed El Harrak


  • Wage Policy and Fiscal Sustainability in Benin
  • Lundgren, Charlotte J.


  • The Global Financial Crisis and Adjustments to Shocks in Kenya, Tanzania, and Uganda: A Balance Sheet Analysis Perspective
  • Masha, Iyabo


  • Impact of the Global Financial Crisis on Exchange Rates and Policies in Sub-Saharan Africa
  • Ben Ltaifa, Nabil, Stella Kaendera, and Shiv Dixit


  • Spillover Effects and the East African Community: Explaining the Slowdown and the Recovery
  • Drummond, Paulo, and Gustavo Ramirez


  • Foreign Exchange Reserve Adequacy in East African Community Countries
  • Drummond, Paulo, Aristide Mrema, Stéphane Roudet, and Mika Saito

Staff Discussion Notes


  • Economic Diversification in LICs: Stylized Facts and Macroeconomic Implications
  • Papageorgiou, Chris, and Nicola Spatafora


  • The International Financial Crisis and Global Recession: Impact on the CEMAC Region and Policy Considerations
  • Wakeman-Linn, John, Rafael A. Portillo, Plamen Iossifov, and Dimitre Milkov


  • The Global Financial Crisis: Impact on WAEMU Member Countries and Policy Options
  • Mueller, Johannes, Irene Yackovlev, and Hans Weisfeld


  • The Southern African Development Community’s Macroeconomic Convergence Program: Initial Performance
  • Burgess, Robert


  • Fiscal Policy in Sub-Saharan Africa in Response to the Impact of the Global Crisis
  • Berg, Andrew, Norbert Funke, Alejandro Hajdenberg, Victor Duarte Lledo, Rolando Ossowski, Martin Schindler, Antonio Spilimbergo, Shamsuddin Tareq, and Irene Yackovlev

Working Papers


  • A Quality of Growth Index for Developing Countries: A Proposal
  • Mlachila, Montfort, Rene Tapsoba, and Sampawende J.-A. Tapsoba


  • Introducing a Semi-Structural Macroeconomic Model for Rwanda
  • Charry, Luisa, Pranav Gupta, and Vimal Thakoor


  • How Solid is Economic Growth in the East African Community?
  • Gigineishvili, Nikoloz, Paolo Mauro, and Ke Wang


  • Islamic Finance in Sub-Saharan Africa: Status and Prospects
  • Gelbard, Enrique, Mumtaz Hussain, Rodolfo Maino, Yibin Mu, and Etienne B. Yehoue


  • Africa Rising: Harnessing the Demographic Dividend
  • Drummond, Paulo, Vimal Thakoor, and Shu Yu


  • Does Openness Matter for Financial Development in Africa?
  • David, Antonio, Montfort Mlachila, and Ashwin Moheeput


  • Surging Investment and Declining Aid: Evaluating Debt Sustainability in Rwanda
  • Clark, Will, and Birgir Arnason


  • Natural Gas, Public Investment and Debt Sustainability in Mozambique
  • Melina, Giovanni, and Yi Xiong


  • Africa’s Rising Exposure to China: How Large Are Spillovers Through Trade?
  • Drummond, Paulo, and Estelle X. Liu


  • Money Targeting in a Modern Forecasting and Policy Analysis System: an Application to Kenya
  • Andrle, Michal, Andrew Berg, Enrico Berkes, Rafael A Portillo, Jan Vlcek, and R. Armando Morales


  • The Investment-Financing-Growth Nexus: The Case of Liberia
  • Clark, Will, and Manuel Rosales


  • Making Monetary Policy More Effective: The Case of the Democratic Republic of the Congo
  • Fischer, Felix, Charlotte J. Lundgren, and Samir Jahjah


  • Fiscal Discipline in WAEMU: Rules, Institutions, and Markets
  • Hitaj, Ermal, and Yasin Kursat Onder


  • Inclusive Growth and Inequality in Senegal
  • Kireyev, Alexei


  • Money Targeting in a Modern Forecasting and Policy Analysis System: An Application to Kenya
  • Michal Andrle, Andrew Berg, Enrico Berkes, Rafael A. Portillo, Jan Vlcek, and R. Armando Morales


  • Africa’s Got Work to Do: Employment Prospects in the New Century
  • Fox, Louise, Cleary Haines, Jorge Huerta Muñoz, and Alun Thomas


  • Resource Dependence and Fiscal Effort in Sub-Saharan Africa
  • Thomas, Alun, and Juan P. Treviño


  • Benchmarking Structural Transformation Across the World
  • Dabla-Norris, Era, Alun H. Thomas, Rodrigo Garcia-Verdu, and Yingyuan Chen


  • Tax Administration Reform in the Francophone Countries of Sub-Saharan Africa
  • Fossat, Patrick, and Michel Bua


  • Financial Depth in the WAEMU: Benchmarking Against Frontier SSA Countries
  • Ahokpossi, Calixte, Kareem Ismail, Sudipto Karmakar, and Mesmin Koulet-Vickot


  • Investing Volatile Oil Revenues in Capital-Scarce Economies: An Application to Angola
  • Richmond, Christine, Irene Yackovlev, and Shu-Chun Yang


  • Fiscal Sustainability, Public Investment, and Growth in Natural Resource-Rich, Low-Income Countries: The Case of Cameroon
  • Samaké, Issouf, Priscilla Muthoora, and Bruno Versailles


  • Inclusive Growth: An Application of the Social Opportunity Function to Selected African Countries
  • Adedeji, Olumuyiwa, Huancheng Du, and Maxwell Opoku-Afari


  • Inclusive Growth and the Incidence of Fiscal Policy in Mauritius — Much Progress, But More Could be Done
  • David, Antonio, and Martin Petri


  • The Quality of the Recent High-Growth Episode in Sub-Saharan Africa
  • Mlachila, Montfort, and Marcelo Martinez


  • Benchmarking Banking Sector Efficiency Across Regional Blocks in Sub-Saharan Africa: What Room for Policy?
  • Boutin-Dufresne, Francois, Santiago Peña, Oral Williams, and Tomasz A. Zawisza


  • Monetary Transmission Mechanism in the East African Community: An Empirical Investigation
  • Davoodi, Hamid, Shiv Dixit, and Gabor Pinter


  • Determinants of Bank Interest Margins in Sub-Saharan Africa
  • Ahokpossi, Calixte


  • Exchange Rate Liberalization in Selected Sub-Saharan African Countries: Successes, Failures, and Lessons
  • Mæhle, Nils, Haimanot Teferra, and Armine Khachatryan


  • Inward and Outward Spillovers in the SACU Area
  • Canales-Kriljenko, Jorge Iván, Farayi Gwenhamo, and Saji Thomas


  • Bond Markets in Africa
  • Mu, Yibin, Peter Phelps, and Janet Stotsky


  • Inequalities and Growth in the Southern African Customs Union (SACU) Region
  • Basdevant, Olivier, Dalmacio Benicio, and Yorbol Yakhshilikov


  • Striking an Appropriate Balance Among Public Investment, Growth, and Debt Sustainability in Cape Verde
  • Mu, Yibin


  • The East African Community: Prospects for Sustained Growth
  • McAuliffe, Catherine, Sweta Saxena, and Masafumi Yabara


  • Financing Growth in the WAEMU through the Regional Securities Market: Past Successes and Current Challenges
  • Diouf, Mame Astou, and Francois Boutin-Dufresne


  • Exchange Rate and Foreign Interest Rate Linkages for Sub-Saharan Africa Floaters
  • Thomas, Alun


  • A Financial Conditions Index for South Africa
  • Gumata, Nombulelo, Nir Klein, and Eliphas Ndou


  • Estimating the Implicit Inflation Target of the South African Reserve Bank
  • Klein, Nir


  • Monetization in Low- and Middle-Income Countries
  • McLoughlin, Cameron, and Noriaki Kinoshita


  • The Relationship between the Foreign Exchange Regime and Macroeconomic Performance in Eastern Africa
  • Stotsky, Janet Gale, Manuk Ghazanchyan, Olumuyiwa Adedeji, and Nils O. Maehle


  • Exchange Rate Pass-Through in Sub-Saharan African Economies and its Determinants
  • Razafimahefa, Ivohasina Fizara


  • Welfare Effects of Monetary Integration: The Common Monetary Area and Beyond
  • Asonuma, Tamon, Xavier Debrun, and Paul R. Masson


  • As You Sow So Shall You Reap: Public Investment Surges, Growth, and Debt Sustainability in Togo
  • Andrle, Michal, Antonio David, Raphael A. Espinoza, Marshall Mills, and Luis-Felipe Zanna


  • Tracking Short-Term Dynamics of Economic Activity in Low-Income Countries in the Absence of High-Frequency GDP Data
  • Opoku-Afari, Maxwell, and Shiv Dixit


  • Mobilizing Revenue in Sub-Saharan Africa: Empirical Norms and Key Determinants
  • Drummond, Paulo, Wendell Daal, Nandini Srivastava, and Luiz E. Oliveira


  • Monetary Policy in Low-Income Countries in the Face of the Global Crisis: The Case of Zambia
  • Baldini, Alfredo, Jaromir Benes, Andrew Berg, Mai Dao, and Rafael Portillo


  • Fiscal Policies and Rules in the Face of Revenue Volatility Within Southern Africa Customs Union Countries (SACU)
  • Basdevant, Olivier


  • Real Wage, Labor Productivity, and Employment Trends in South Africa: A Closer Look
  • Klein, Nir


  • Exchange Rate Volatility Under Peg: Do Trade Patterns Matter?
  • Lonkeng Ngouana, Constant


  • Assessing Bank Competition within the East African Community
  • Sanya, Sarah, and Matthew Gaertner


  • Prudential Liquidity Regulation in Developing Countries: A Case Study of Rwanda
  • Sanya, Sarah, Wayne Mitchell, and Angelique Kantengwa


  • Capital Market Integration: Progress Ahead of the East African Community Monetary Union
  • Yabara, Masafumi


  • International Reserves in Low-Income Countries: Have They Served as Buffers?
  • Cripolti, Valerio, and George Tsibouris


  • Inflation Differentials in the GCC: Does the Oil Cycle Matter?
  • Mohaddes, Kamiar, and Oral Williams


  • Effectiveness of Capital Controls in Selected Emerging Markets in the 2000s
  • Baba, Chikako, and Annamaria Kokenyne


  • How Costly Are Debt Crises?
  • Furceri, Davide, and Aleksandra Zdzienicka


  • Monetary Policy Transmission in Ghana: Does the Interest Rate Channel Work?
  • Kovanen, Arto


  • Does Money Matter for Inflation in Ghana?
  • Kovanen, Arto


  • On the Stability of Monetary Demand in Ghana: A Bounds Testing Approach
  • Dagher, Jihad, and Arto Kovanen


  • Oil-Price Boom and Real Exchange Rate Appreciation: Is There Dutch Disease in the CEMAC?
  • Treviño, Juan Pedro


  • The Design of Fiscal Adjustment Strategies in Botswana, Lesotho, Namibia, and SwazilandBasdevant, Olivier, Dalmacio Benicio, Borislava Mircheva, Joannes Mongardini, Geneviève Verdier, Susan Yang, and Luis-Felipe Zanna


  • Do Remittances Reduce Aid Dependency?
  • Kpodar, Kangni, and Maelan Le Goff


  • Determinants of Non-oil Growth in the CFA-Zone Oil Producing Countries: How Do They Differ?
  • Tabova, Alexandra, and Carol L. Baker


  • Inflation Dynamics in the CEMAC Region
  • Caceres, Carlos, Marcos Poplawski-Ribeiro, and Darlena Tartari


  • External Sustainability of Oil-Producing Sub-Saharan African Countries
  • Takebe, Misa, and Robert C. York


  • The Cyclicality of Fiscal Policies in the CEMAC Region
  • Mpatswe, Gaston K., Sampawende J. Tapsoba, and Robert C. York


  • South Africa: The Cyclical Behavior of the Markups and Its Implications for Monetary Policy
  • Klein, Nir


  • Burkina Faso—Policies to Protect the Poor from the Impact of Food and Energy Price Increases
  • Arze del Granado, Javier, and Isabell Adenauer


  • De Jure versus De Facto Exchange Rate Regimes in Sub-Saharan Africa
  • Slavov, Slavi T.


  • Financial Deepening, Property Rights and Poverty: Evidence from Sub-Saharan Africa
  • Singh, Raju Jan, and Yifei Huang


  • FDI from BRICs to LICs: Emerging Growth Driver?
  • Mlachila, Montfort, and Misa Takebe


  • Determinants of Interest Rate Pass-Through: Do Macroeconomic Conditions and Financial Market Structure Matter?
  • Gigineishvili, Nikoloz


  • The Quest for Higher Growth in the WAEMU Region: The Role of Accelerations and Decelerations
  • Kinda, Tidiane, and Montfort Mlachila


  • Fiscal Policy Implementation in Sub-Saharan Africa
  • Lledo, Victor Duarte, and Marcos Poplawski Ribeiro


  • Post-Conflict Recovery: Institutions, Aid, or Luck?
  • David, Antonio, Fabiano Rodrigues Bastos, and Marshall Mills


  • Ghana: Will It Be Gifted, or Will It Be Cursed?
  • Aydin, Burcu


  • Oil Spill(over)s: Linkages in Petroleum Product Pricing Policies in West African Countries
  • David, Antonio, Mohamed El Harrak, Marshall Mills, and Lorraine Ocampos


  • Feeling the Elephant’s Weight: The Impact of Côte d’Ivoire’s Crisis on WAEMU Trade
  • Egoumé-Bossogo, Philippe, and Ankouvi Nayo


  • ICT, Financial Inclusion, and Growth Evidence from African Countries
  • Andrianaivo, Mihasonirina, and Kangni Kpodar


  • Fiscal Sustainability and the Fiscal Reaction Function for South Africa
  • Burger, Philippe, Alfredo Cuevas, Ian Stuart, and Charl Jooste


  • Reviving the Competitive Storage Model: A Holistic Approach to Food Commodity Prices
  • Miao, Yanliang, Weifeng Wu, and Norbert Funke


  • Inflation Uncertainty and Relative Price Variability in WAEMU
  • Fernandez Valdovinos, Carlos, and Kerstin Gerling


  • Modeling Inflation in Chad
  • Kinda, Tidiane


  • Fiscal Expectations under the Stability and Growth Pact: Evidence from Survey Data
  • Poplawski-Ribeiro, Marcos, and Jan-Christoph Rulke


  • Growth in Africa under Peace and Market Reforms
  • Korbut, Olessia, Gonzalo Salinas, and Cheikh A. Gueye


  • Feeling the Elephant’s Weight: The Impact of Côte d’Ivoire’s Crisis on WAEMU Trade
  • Egoumé-Bossogo, Philippe, and Nayo Ankouvi


  • Capital Flows, Exchange Rate Flexibility, and the Real Exchange Rate
  • Kinda, Tidiane, Jean-Louis Combes, and Patrick Plane


  • Weathering the Global Storm: The Benefits of Monetary Policy Reform in the LA5 Countries
  • Canales-Kriljenko, Jorge Iván, Luis Ignacio Jácome, Ali Alichi, and Ivan Luis de Oliveira Lima


  • Export Tax and Pricing Power: Two Hypotheses on the Cocoa Market in Côte d’Ivoire
  • Kireyev, Alexei


  • What Can International Cricket Teach Us About the Role of Luck in Labor Markets?
  • Aiyar, Shekhar, and Rodney Ramcharan


  • Performance of Fiscal Accounts in South Africa in a Cross-Country Setting
  • Aydin, Burcu


  • Cyclicality of Revenue and Structural Balances in South Africa
  • Aydin, Burcu


  • Mother, Can I Trust the Government? Sustained Financial Deepening—A Political Institutions View
  • Quintyn, Marc, and Geneviève Verdier


  • Islamic Banking: How Has It Diffused?
  • Imam, Patrick A., and Kangni Kpodar


  • A Macro Model of the Credit Channel in a Currency Union Member: The Case of Benin
  • Samaké, Issouf


  • How Do International Financial Flows to Developing Countries Respond to Natural Disasters?
  • David, Antonio


  • Exchange Rate Assessment for Sub-Saharan Economies
  • Aydin, Burcu


  • Balance Sheet Vulnerabilities of Mauritius during a Decade of Shocks
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