- International Monetary Fund
- Published Date:
- October 2015
- Search Google Scholar
- Export Citation
- Search Google Scholar
- Export Citation
- Search Google Scholar
- Export Citation
- Search Google Scholar
- Export Citation
- Search Google Scholar
- Export Citation
Acemoğlu, Daron, and James A.Robinson.2010. Why Nations Fail: The Origins of Power, Prosperity and Poverty. Crown Business.
African Development Bank (AfDB). 2015. Economic Empowerment of African Women through Equitable Participation in Agricultural Value Chains. Abidjan: African Development Bank.
Amin, Mohammad, VeselinKuntchev, and MartinSchmidt.2015. “Gender Inequality and Growth: The Case of Rich vs. Poor Countries.” Policy Research Working Paper 7172. World Bank, Washington.
AndersonDerek, JorgeIvan Canales Kriljenko, PauloDrummond, PedroEspaillat, and Dirk Muir.Forthcoming. “Spillovers from China onto Sub-Saharan Africa: Insights from the Flexible System of Global Models (FSGM).” IMF Working Paper, International Monetary Fund, Washington.
Arezki, Rabah, and MarkusBrückner.2012. “Commodity Windfalls, Democracy and External Debt.” Economic Journal, Royal Economic Society122 (561): 848–66.
Arezki, Rabah, and K.Ismail.2013. “Boom-Bust Cycle, Asymmetrical Fiscal Response and the Dutch Disease.” Journal of Development Economics101: 256–67.
Arze del Granado, F. J., D.Coady, and R.Gillingham.2012. “The Unequal Benefits of Fuel Subsidies: A Review of Evidence for Developing Countries.” World Development40(11): 2234–248.
Baird, S., E.Chirwa, C.McIntosh, and B.Ozler.2009. “The Short-Term Impacts of a Schooling Conditional Cash Transfer Program on the Sexual Behavior of Young Women.” Policy Research Working Paper 5089, World Bank, Washington.
Balakrishnan, R., C.Steinberg, and M.Syed.2013. “The Elusive Quest for Inclusive Growth: Growth, Poverty and Inequality in Asia.” IMF Working Paper 13/152, Washington, International Monetary Fund.
Barro, R.2000. “Inequality and Growth in a Panel of Countries.” Journal of Economic Growth5(1): 5–32.
Bardhan, P. K.2005. Scarcity, Conflicts, and Cooperation: Essays in the Political and Institutional Economics of Development. Cambridge, Massachusetts: MIT Press.
Bayoumi, Tamim, JaewooLee, and SarmaJayanthi.2005. “New Rates from New Weights.” IMF Working Paper 99. International Monetary Fund, Washington.
Beegle, Kathleen, LucChristiaensen, AndrewDabalen, and IsisGaddis.Forthcoming. “Africa is Rising, but are People Better off?” World Bank, Washington.
Beck, Thorsten, AsliDemirgüç-Kunt, and RossLevin.2005. “Bank Concentration and Fragility: Impact and Mechanics.” NBER Working Paper 11500, National Bureau of Economic Research, Cambridge, Massachusetts. http://www.nber.org/papers/w11500.
Belotti, F., S.Daidone, G.Ilardi, and V.Atella.2012. “Stochastic Frontier Analysis Using Stata.” Center for Economic and International Studies, CEIS Tor Vergata Research Paper10 (12).
Bems, Rudolf, and Robert C.Johnson.2012. “Value Added Exchange Rates.” Working Paper No. 18498, National Bureau of Economic Research, Cambridge, Massachusetts, October.
Berg, Andrew, Jonathon D.Ostry, and JerominZettelmayer.2012. “What Makes Growth Sustained?” Journal of Development Economics, (98) 149–66.
Benabou, Roland.1996. “Inequality and Growth.” In National Bureau of Economic Research Macroeconomics Annual, edited by BenBernanke and JulioRotembergCambridge: MIT Press.
Berg, A., and J.Ostry.2011. “Inequality and Unsustainable Growth: Two Sides of the Same Coin?” Staff Discussion Note 11/09, International Monetary Fund, Washington.
Besley, Timothy, and TorstenPersson.2011. “The Pillars of Prosperity: The Political Economics of Development Clusters.” The Yrjö Jahnsson Lectures. Princeton: Princeton University Press.
Bhorat, H., K.Naidoo, and K.Pillay.2015. “Growth, Poverty and Inequality Interactions in Africa. An Overview of Key Issues.” Unpublished.
Brückner, Markus, and AntonioCiccone.2010. “International Commodity Prices, Growth and the Outbreak of Civil War in Sub-Saharan Africa.” Economic Journal120 (544): 519–34.
Bucellato, T., and M.Alessandrini.2009. “Natural Resources: A Blessing or a Curse? The Role of Inequality.” Discussion Paper 98, Center for Financial Management Studies.
Bulir, A.2001. “Income Inequality: Does Inflation Matter?” IMF Staff Papers48(1):139–59.
Castello-Climent, A.2010. “Inequality and Growth in Advanced Economies: An Empirical Investigation.” Journal of Economic Inequality8 (3): 293–321.
Castelló-Climent, A., and R.Doménech.2014. “Human Capital and Income Inequality: Some Facts and Some Puzzles.” BBVA Working Paper 12/28, Madrid, March.
Chevalier, A., K.Denny, and D.McMahon.2003. “A Multi-Country Study of Inter-Generational Educational Mobility.” ISSC Discussion Paper 2003/6.
Christiansen, L., L.Demery, and J.Kuhl.2007. “The Role of Agriculture in Poverty Reduction: An Empirical Perspective.” Policy Research Working Paper 4013, World Bank, Washington, September.
Corak, M.2013. “Income Inequality, Equality of Opportunity, and Intergenerational Mobility.” Journal of Economic Perspectives27(3): 79–102.
Cox, D. R.1972. “Regression Models and Life-Tables.” Journal of the Royal Statistical SocietyB34 (2): 187–220.
Cuberes, David, and MarcTeignier.Forthcoming. “Aggregate Costs of Gender Gaps in the Labor Market: A Quantitative Estimate.” The Journal of Human Capital.
Dabla-Norris, E., K.Kochhar, N.Suphaphidat, F.Ricka, and E.Tsounta.2015a. “Causes and Consequences of Inequality: A Global Perspective.” IMF Staff Discussion Note 15/13, International Monetary Fund, Washington.
Dabla-Norris, E., R.Townsend, and D.F.Unsal.2015b. “Identifying Constraints to Financial Inclusion and their Impact on GDP and Inequality: A Structural Framework for Policy.” IMF Working Paper 15/22, International Monetary Fund, Washington.
Deaton, A., and R.Miller.1995. “International Commodity Prices, Macroeconomic Performance, and Politics in Sub-Saharan Africa.” Princeton Studies in International Finance79, Princeton, New Jersey.
De Gregorio, José D., and Holger C.Wolf.1994. “Terms of Trade, Productivity and the Real Exchange Rate.” NBER Working Paper 4807, National Bureau of Economic Research, Cambridge, Massachusetts.
Dehn, Jan.2000. “Commodity Price Uncertainty and Shocks: Implications for Economic Growth.” Working Paper Series 2000-10, Centre for the Study of African Economies, University of Oxford, Cambridge, UK.
Dell’Ariccia, Giovanni, DenizIgan, LucLaeven, and HuiTong.2012. “Policies for Macrofinancial Stability: How to Deal with Credit Booms.” IMF Staff Discussion Note 12/06, International Monetary Fund, Washington.
Demirgüç-Kunt, Asli, and EnricaDetragiache.1998. “The Determinants of Banking Crises in Developing and Developed Countries.” IMF Staff Papers45 (1): 1–109.
Demirgüç-Kunt, Asli, Leora FKlapper, and DorotheSinger.2013. “Financial Inclusion and Legal Discrimination Against Women: Evidence from Developing Countries.” Policy Research Working Paper No. 6416, World Bank, Washington.
Drehmann, Mathias, and MikaelJuselius.2013. “Evaluating Early Warning Indicators of Banking Crises: Satisfying Policy Requirements.” BIS Working Paper No. 421, Bank for International Settlements, Basel.
Duflo, E.2003. “Grandmothers and Granddaughters: Old-Age Pensions and Intrahousehold Allocation in South Africa.” The World Bank Economic Review17 (1): 1–25.
Eichengreen, Barry.2007. “The Real Exchange Rate and Economic Growth.” Background Paper for the World Bank Growth Commission presented to the commission meeting in New York City, 9April. http://eml.berkeley.edu/~eichengr/real_exchange_rate.pdf
Elborgh-Woytek, K., M.Newiak, K.Kochhar, S.Fabrizio, K.Kpodar, P.Wingender, B.Clements, and G.Schwartz.2013. “Women, Work, and the Economy: Macroeconomic Gains from Gender Equity.” IMF Staff Discussion Note 13/10, International Monetary Fund, Washington.
Esteve-Volart, Berta.2004. “Gender Discrimination and Growth: Theory and Evidence from India.” LSE STICERD Research Paper DEDPS42, London.
Fabrizio, Stefania, RodrigoGarcia-Verdu, CatherinePattilo, AdrianPeralta, AndreaPresbitero, BaopingShang, GenevieveVerdier, Marie-ThereseCamilleri, PatriziaTumbarello, MoniqueNewiak, MartinČihák, InciÖtker, FelipeZanna, and CarolBaker.2015. “From Ambition to Execution: Policies in Support of Sustainable Development Goals.” IMF Staff Discussion Note 15/18, International Monetary Fund, Washington.
Feder, Gershon.1983. “On Exports and Economic Growth.” Journal of Development Economics12 (1—2): 59–73.
Fenochietto, Ricardo, and CarolaPessino.2010. “Determining Countries’ Tax Effort.” Hacienda Publica Española/Revista de Economia Publica195 (4): 65–87. Instituto de Estudios Fiscales.
Fenochietto, Ricardo, and CarolaPessino.2013. “Understanding Countries’ Tax Effort.” IMF Working Paper No. 13/244, International Monetary Fund, Washington.
Galor, O., and J.Zeira.1993. “Income Distribution and Macroeconomics.” The Review of Economic Studies60 (1): 35–52.
Gelb, Alan, ChristianMeyer, and VijayaRamachandran.2013. “Does Poor Mean Cheap? A Comparative Look at Africa’s Industrial Labor Costs.” Working Paper 325, Center for Global Development, Washington.
Gonzales, C., S.Jain-Chandra, K.Kochhar, and M.Newiak.2015. “Fair Play: More Equal Laws Boost Female Labor Force Participation.” IMF Staff Discussion Note 15/02, International Monetary Fund, Washington.
Gonzales, C., S.Jain-Chandra, K.Kochhar, M.Newiak, and T.Zeinullayev.Forthcoming. “Catalyst for Change: Empowering Women and Tackling Income Inequality.” IMF Staff Discussion Note, International Monetary Fund, Washington.
Greenwood, J., and B.Jovanovic.1990. “Financial Development, Growth, and the Income Distribution.” Journal of Political Economy98: 1076–1107.
Grown, C., and I.Valodia, editors. 2010. “Taxation and Gender Equity: A Comparative Analysis of Direct and Indirect Taxes in Developing and Developed Countries.” Routledge International Studies in Money and Banking (Book 58).
Hallward-Driemeier, M., and T.Hasan.2013. “Empowering Women. Legal Rights and Economic Opportunities in Africa.” International Bank for Reconstruction and Development/World Bank, Washington.
Hausmann, Ricardo, LantPritchett, and DaniRodrik.2005. “Growth Accelerations.” Journal of Economic Growth10 (4): 303–29.
Hausmann, Ricardo, César A.Hidalgo, SebastiánBustos, MicheleCoscia, SarahChung, JuanJimenez, AlexanderSimoes, and Muhammed A.Yildirim.2011. The Atlas of Economic Complexity: Mapping Paths to Prosperity. Cambridge, Massachusetts: Puritan Press.
Heintz, J.2006. Globalization, Economic Policy and Employment: Poverty and Gender Implications. Geneva: International Labour Organization.
International Monetary Fund (IMF). 2011. “Revenue Mobilization in Developing Countries.” IMF Policy Paper, International Monetary Fund, Washington, March.
International Monetary Fund (IMF). 2012. “Fiscal Regimes for Extractive Industries: Design and Implementation.” IMF Policy Paper, International Monetary Fund, Washington, August.
International Monetary Fund (IMF). 2014a. “South Africa Selected Issues Paper.” IMF Country Report 14/339, International Monetary Fund, Washington.
International Monetary Fund (IMF). 2014b. “Spillovers in International Corporate Taxation.” IMF Policy Paper, International Monetary Fund, Washington, May.
International Monetary Fund (IMF). 2015a. “Current Challenges in Revenue Mobilization—Improving Tax Compliance.” IMF Policy Paper, International Monetary Fund, Washington, February.
International Monetary Fund (IMF). 2015b. “Kenya—Request for Stand-By Arrangement and an Arrangement under the Standby Credit Facility.” IMF Country Report No. 15/31, International Monetary Fund, Washington, February.
International Monetary Fund (IMF). 2015c. “Financing for Development: Revisiting the Monterey Consensus.” IMF Policy Paper, International Monetary Fund, Washington, July.
International Monetary Fund (IMF). 2015d. “Fiscal Policy and Long-Term Growth.” IMF Policy Paper, International Monetary Fund, Washington, April.
International Monetary Fund (IMF). 2015e. “Making Public Investment More Efficient.” IMF Policy Paper, International Monetary Fund, Washington.
International Monetary Fund (IMF). 2015f. World Economic Outlook. World Economic and Financial Surveys, International Monetary Fund, Washington, October.
Johnson, Simon, Jonathon D.Ostry, and ArvindSubramanian.2010. “Prospects for Sustained Growth in Africa: Benchmarking the Constraints.” IMF Staff Papers, 57 (1): 119–71.
Keen, Michael, and MarioMansour.2009. “Revenue Mobilization in Sub-Saharan Africa: Challenges from Globalization.” IMF Working Paper No. 09/157, International Monetary Fund, Washington.
Keen, M.2013. “Targeting, Cascading, and Indirect Tax Design.” IMF Working Paper No. 13/57, International Monetary Fund, Washington.
Kinda, Tidiane, MontieMlachila, and RasmanéOuedraogo.Forthcoming. “Commodity Price Shocks and Financial Sector Fragility.” IMF Working Paper, International Monetary Fund, Washington.
Klasen, S.1999. “Does Gender Inequality Reduce Growth and Development? Evidence from Cross-Country Regressions.” Policy Research Report, Engendering Development Working Paper No. 7, World Bank, Washington.
Kochhar, R.2015. “A Global Middle Class Is More Promise than Reality, From 2001 to 2011, Nearly 700 Million Step Out of Poverty, but Most Only Barely.” Pew Research Center, Washington, July.
Kuznets, S.1955. “Economic Growth and Income Inequality.” American Economic Review45:1–28.
Laeven, Luc, and Fabián V.Valencia.2013. “Systemic Banking Crisis Database: An Update.” IMF Economic Review61: 225–70.
Lichbach, M. I.1989. “An Evaluation of ‘Does Economic Inequality Breed Political Conflict?’ Studies.” World Politics41 (4): 431–70.
Marchettini, Daniela, and RodolfoMaino.2015. “Systemic Risk Assessment in Low Income Countries: Balancing Financial Stability and Development.” IMF Working Paper No 15/190. Washington.
Mecagni, Mauro, JuanSebastian Corrales, JemmaDridi, RodrigoGarcia-Verdu, PatrickImam, JustinMatz, CarlaMacario, RodolfoMaino, YibinMu, AshwinMoheeput, FutoshiNarita, MarcoPani, ManuelRosales, SebastianWeber, and EtienneYehoue.2015. “Dollarization in Sub-Saharan Africa: Experience and Lessons.” IMF African Department Paper No. 15/4, International Monetary Fund, Washington.
Miller, G.2008, “Women’s Suffrage, Political Responsiveness, and Child Survival in American History.” The Quarterly Journal of Economics (August): 1287–326.
Mundlak, Yair.1978. “On the Pooling of Time Series and Cross Section Data.” Econometrica46 (1): 69–85.
Nauges, C., and J.Strand.2013. “Water Hauling and Girls’ School Attendance. Some New Evidence from Ghana.” Policy Research Working Paper 6443, World Bank, Washington.
Neves, P.C., and S. M. T.Silva.2013. “Inequality and Growth: Uncovering the Main Conclusions from the Empirics.” The Journal of Development Studies50(1): 1–21.
Ortiz Vidal-Abarca, Álvaro, and AlfonsoUgarte Ruiz.2015. “Introducing a New Early Warning System Indicator (EWSI) of Banking Crises.” BBVA Working Paper 15/02, BBVA Research, Madrid.
Ostry, J., A.Berg, and C.Tsangarides.2014. “Redistribution, Inequality, and Growth.” IMF Staff Discussion Note 14/02, International Monetary Fund, Washington.
Phillips, Steven, LuisCatão, LucaAntonio Ricci, RudolfsBems, MitaliDas, Juliandi Giovanni, D.Filiz Unsal, MarolaCastillo, JungjinLee, JairRodriguez, MauricioVargas.2013. “The External Balance Assessment (EBA) Methodology.” IMF Working Paper No. 133, International Monetary Fund, Washington.
Ravallion, M.2002. “Inequality Convergence.” Policy Research Working Paper, World Bank, Washington. dx.doi.org/10.1596/1813-9450-2645.
Rodrik, Dani.2008. “The Real Exchange Rate and Economic Growth.” Brookings Papers on Economic Activity, Fall.
Rogoff, Kenneth D.1996. “The Purchasing Power Parity Puzzle.” Journal of Economic Literature, 34 (2): 647–68.
Roine, J., J.Vlachos, and D.Waldenstrom.2009. “The Long-run Determinants of Inequality: What Can We Learn from Top Income Data?” Journal of Public Economics93(7/8): 974–88.
Rosenzweig, M.1990. “Population Growth and Human Capital Investments: Theory and Evidence.” Journal of Political Economy98(5): 38–70.
Rubalcava, L., G.Teruel, and D.Thomas.2004. “Spending, Saving and Public Transfers to Women.” California Center of Population Research UCLA, On-Line Working Paper Series, CCPR-024-04.
Sala-i-Martin, X.2002. “The World Distribution of Income (Estimated from Individual Country Distributions).” NBER Working Paper 8933, National Bureau of Economic Research, Cambridge, Massachusetts.
Sahay, Ratna, MartinČihák, PapaN’Diaye, AdolfoBarajas, RanBi, DianaAyala, YuanGao, AnnetteKyobe, LamNguyen, ChristianSaborowski, KatsiarynaSvirydzenka, and SeyedReza Yousefi.2015. “Rethinking Financial Deepening: Stability and Growth in Emerging Markets.” IMF Staff Discussion Note 15/08, International Monetary Fund, Washington.
Soares, Rodrigo R.2005. “Mortality Reductions, Educational Attainment, and Fertility Choice.” American Economic Review95 (3): 580–601.
Soares, Rodrigo R., and Bruno L. S.Falcao.2008. “The Demographic Transition and the Sexual Division of Labor.” Journal of Political Economy116 (6): 1058–104.
Solt, Frederick.2014. “The Standardized World Income Inequality Database.” Working Paper, SWIID 5.0.
Stotsky, J. G.2006. “Gender and its Relevance to Macroeconomic Policy: A Survey.” IMF Working Paper 06/233, International Monetary Fund, Washington.
Thomas, D.1990. “Intra-Household Resource Allocation. An Inferential Approach.” The Journal of Human Resources25 (4) 635–64.
Thomas, Charles, JaimeMarquez, and SeanFahle.2008. “Measuring U.S. International Relative Prices.” Federal Reserve Board International Finance Discussion Paper No. 917, Federal Reserve Board, Washington.
Tsangarides, Charalambos.2012. “Determinants of Growth Spells: Is Africa Different?” IMF Working Paper No. 227, International Monetary Fund, Washington.
Tulin, Volodymyr, and KorneliaKrajnyák.2010. “How Expensive is Norway? New International Relative Price Measures.” IMF Working Paper No. 133, International Monetary Fund, Washington.
Wanjala, B., and M.Wersig.2011. “Gender and Taxation in Kenya.” In Challenging Gender Inequality in Tax Policy Making: Comparative Perspectives, edited by KimBrooks, AsaGunnarson, LisaPhilipps, and MariaWersig.United Kingdom: Hart Publishing Ltd.
Wooldridge, Jeremy M.2010. Econometric Analysis of Cross Section and Panel Data. Cambridge, Massachusetts: MIT Press.
World Bank. 2012. World Development Report: Gender Equality and Development. Washington: World Bank.
World Bank. 2013. “Women, Business and the Law 2013. Removing Restrictions to Enhance Gender Equality.” World Bank/International Finance Corporation, Washington.
World Bank. 2015a. “A Fiscal Incidence Analysis for Ethiopia.” Chapter 5 in “Ethiopia Poverty Assessment 2014.” World Bank, Washington.
World Bank. 2015b. “Purchasing Power Parities and the Real Size of World Economies: A Comprehensive Report of the 2011 International Comparison Program.” World Bank, Washington.
Zanello, Alessandro, and DominiqueDesruelle.1997. “A Primer on the IMF Information Notice System.” International Monetary Fund, Washington.
Publications of the IMF African Department, 2009–15
Books and Monographs
The East African Community: Quest for Regional Integration
Drummond, Paulo, S.K. Wajid, and Oral Williams
The Mystery of Missing Real Spillovers in Southern Africa: Some Facts and Possible Explanations
Basdevant, Olivier, Andrew W. Jonelis, Borislava Mircheva, and Slavi T. Slavov
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
Tanzania: The Story of an African Transition
Nord, Roger, Yuri Sobolev, David Dunn, Alejandro Hajdenberg, Niko Hobdari, Samar Maziad, and Stéphane Roudet
Toward a Monetary Union in the East African Community: Asymmetric Shocks, Exchange Rates, and Risk-Sharing Mechanisms
Drummond, Paulo, Ari Aisen, C. Emre Alper, Ejona Fuli, and Sebastien Walker
Building Resilience in Sub-Saharan Africa’s Fragile States
Gelbard, Enrique, Corinne Délechat, Ejona Fuly, Mumtaz Hussain, Ulrich Jacoby, Dafina Mulaj, Marco Pani, Gustavo Ramirez, and Rui Xu
Sustaining More Inclusive Growth in the Republic of Congo
Hakura, Dalia, Adrian Alter, Matteo Ghilardi, Rodolfo Maino, Cameron McLoughlin, and Maximilien Queyranne
Mozambique Rising: Building a New Tomorrow
Ross, Doris C., 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
Basdevant, Olivier, Andrew W Jonelis, Borislava Mircheva, and Slavi T. Slavov
Issuing International Sovereign Bonds: Opportunities and Challenges for Sub-Saharan Africa
Mecagni, Mauro, 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
Gueye, Cheikh A., 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
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
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
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
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
Pan-African Banks - Opportunities and Challenges for Cross-Border Oversight
Prepared by a staff team led by Charles Enoch, Paul Mathieu, and Mauro Mecagni.
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
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
Systemic Risk Assessment in Lo Income Countries: Balancing Financial Stability and Development
Marchettini, Daniela, Rodolfo Maino
On the Drivers of Inflation in Sub-Saharan Africa
Nguyen, Anh D. M., Jemma Dridi, D. Filiz Unsal, and Oral Williams
Sub-Saharan Employment Developments: The Important Role of Household Enterprises with an Application to Rwanda
Alun H. Thomas
Household Financial Acces and Risk Sharing in Nigeria
Carlson, Stacey, Era Dabla-Norris, Mika Saito, and Yu Shi
Network Effects of International Shocks and Spillovers
Kireyev, Alexei and Andrei Leonidov
Pension Reforms in Mauritius: Fair and Fast—Balancing Social Protection and Fiscal Sustainability
Soto, Mauricio, Vimal Thakoor, and Martin Petri
How to Improve the Effectiveness of Monetary Policy in the West African Economic and Monetary Union
Do Resource Windfalls Improve the Standard of Living in Sub-Saharan African Countries?: Evidence from a Panel of Countries
Munseob Lee, and Cheikh A. Gueye
Remittances and Macroeconomic Volatility in African Countries
Harnessing Resource Wealth for Inclusive Growth in Fragile States
Delechat, Corinne, Will Clark, Pranav Gupta, Malangu Kabedi-Mbuyi, Mesmin Koulet-Vickot, Carla Macario, Toomas Orav, Manuel Rosales, Renee Tapsoba, Dmitry Zhdankin, and Susan Yang
Fiscal Policy Implications for Labor Market Outcomes in Middle-Income Countries
Stepanyan, Ara, and Lamin Leigh
Revisiting the Concept of Dollarization: The Global Financial Crisis and Dollarization in Low-Income Countries
Mwase, Nkunde, and Francis Y. Kumah
Global Financial Transmission into Sub-Saharan Africa–A Global Vector Autoregression Analysis
Canales Kriljenko, Jorge Iván, Mehdi Hosseinkouchack, Alexis Meyer-Cirkel
Safe Debt and Uncertainty in Emerging Markets: An Application to South Africa
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
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
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
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
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
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, Olumuyiwa Adedeji, Manuk Ghazanchyan, 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)
Real Wage, Labor Productivity, and Employment Trends in South Africa: A Closer Look
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
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?
Does Money Matter for Inflation in Ghana?
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?
Trevino, Juan Pedro
The Design of Fiscal Adjustment Strategies in Botswana, Lesotho, Namibia, and Swaziland
Basdevant, 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
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?
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?
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
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
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
Cyclicality of Revenue and Structural Balances in South Africa
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
How Do International Financial Flows to Developing Countries Respond to Natural Disasters?
Exchange Rate Assessment for Sub-Saharan Economies
Balance Sheet Vulnerabilities of Mauritius during a Decade of Shocks
Imam, Patrick A., and Rainer Koehler
Beyond Aid: How Much Should African Countries Pay to Borrow?
Gueye, Cheikh A., and Amadou N.R. Sy
Banking Efficiency and Financial Development in Sub-Saharan Africa
FDI Flows to Low-Income Countries: Global Drivers and Growth Implications
Dabla-Norris, Era, Jiro Honda, Amina Lahrèche-Révil, and Geneviève Verdier
The Linkage between the Oil and Nonoil Sectors—A Panel VAR Approach
Short- versus Long-Term Credit and Economic Performance: Evidence from the WAEMU
Kpodar, Kangni, and Kodzo Gbenyo
Budget Institutions and Fiscal Performance in Low-Income Countries
Dabla-Norris, Era, Richard Allen, Luis-Felipe Zanna, Tej Prakash, Eteri Kvintradze, Victor Duarte Lledo, Irene Yackovlev, and Sophia Gollwitzer
ICT Equipment Investment and Growth in Low- and Lower-Middle-Income Countries
The Real Exchange Rate and Growth Revisited: The Washington Consensus Strikes Back?
Berg, Andrew, and Yanliang Miao
Firm Productivity, Innovation, and Financial Development
Dabla-Norris, Era, Eramus Kersting, and Geneviève Verdier
Cyclical Patterns of Government Expenditures in Sub-Saharan Africa: Facts and Factors
Lledo, Victor, Irene Yackovlev, and Lucie Gadenne
A Framework to Assess the Effectiveness of IMF Technical Assistance in National Accounts
Pastor, Gonzalo C.
Improving Surveillance Across the CEMAC Region
Iossifov, Plamen, Noriaki Kinoshita, Misa Takebe, Robert C. York, and Zaijin Zhan
A Rule Based Medium-Term Fiscal Policy Framework for Tanzania
Kim, Daehaeng, and Mika Saito
Analyzing Fiscal Space Using the MAMS Model: An Application to Burkina Faso
Gottschalk, Jan, Vu Manh Le, Hans Lofgren, and Kofi Nouve
Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa
Singh, Raju Jan, Markus Haacker, and Kyung-woo Lee
São Tomé and Príncipe: Domestic Tax System and Tax Revenue Potential
The Gambia: Demand for Broad Money and Implications for Monetary Policy Conduct
Sriram, Subramanian S.
Understanding the Growth of African Markets
Yartey, Charles Amo, and Mihasonirina Andrianaivo
Credit Growth in Sub-Saharan Africa—Sources, Risks, and Policy Responses
Iossifov, Plamen, and May Y. Khamis
Spillovers from the Rest of the World into Sub-Saharan African Countries
Drummond, Paulo, Flavio Nacif, and Gustavo Ramirez
In Search of Successful Inflation Targeting: Evidence from an Inflation Targeting Index
Introducing the Euro as Legal Tender—Benefits and Costs of Eurorization for Cape Verde
Imam, Patrick A.
The Macroeconomics of Scaling Up Aid: The Gleneagles Initiative for Benin
Mongardini, Joannes, and Issouf Samaké
Sub-Saharan Africa’s Integration in the Global Financial Markets
Deléchat, Corinne, Gustavo Ramirez, Smita Wagh, and John Wakeman-Linn
Financial Deepening in the CFA Franc Zone: The Role of Institutions
Singh, Raju, Kangni Kpodar, and Dhaneshwar Ghura
Madagascar: A Competitiveness and Exchange Rate Assessment
Understanding Inflation Inertia in Angola
Klein, Nir, and Alexander Kyei
Grants, Remittances, and the Equilibrium Real Exchange Rate in Sub-Saharan African Countries
Mongardini, Joannes, and Brett Rayner
Dedollarization in Liberia—Lessons from Cross-Country Experience
Erasmus, Lodewyk, Jules Leichter, and Jeta Menkulasi
The Macroeconomic Impact of Scaled-Up Aid: The Case of Niger
Farah, Abdikarim, Emilio Sacerdoti, and Gonzalo Salinas
The Value of Institutions for Financial Markets: Evidence from Emerging Markets
Akitoby, Bernardin, and Thomas Stratmann
Why Isn’t South Africa Growing Faster? A Comparative Approach
The Determinants of Commercial Bank Profitability in Sub-Saharan Africa
Flamini, Valentina, Calvin A. McDonald, and Liliane Schumacher
Bank Efficiency in Sub-Saharan African Middle-Income Countries
How Can Burundi Raise its Growth Rate? The Impact of Civil Conflicts and State Intervention on Burundi’s Growth Performance