Mr. Bhatia, Chief of the Central African Division of the African Department, is a graduate of Bombay University and Oxford University. He was formerly a member of the staff of the Indian Ministry of Finance and has contributed several articles to economic journals.
Mr. Szapary, economist in the African Department, received his graduate and postgraduate degrees from the University of Louvain. He worked formerly at the Commission of the European Economic Community in Brussels and is the author of Diffusion du progrès et convergence des prix, Europe-Etats-Unis, 1899–1962 (Louvain and Paris, 1966).
Mr. Quinn, economist in the African Department, received his graduate and postgraduate degrees from the Universities of Glasgow and Manchester and from Cornell University. He was the resident representative of the International Monetary Fund in Sierra Leone from 1966 until 1968.
J. J. Polak and Lorette Boissonneault, “Monetary Analysis of Income and Imports and Its Statistical Application,” Staff Papers, Vol. VII (I960), pp. 349–415.
In Sierra Leone the supply of palm kernels is price elastic in the short run, since palms grow wild and farmers have only to pick the fruit.
Comprising mainly interbank deposits, money at call, and treasury bills.
As defined on page 507 in the text.
A positive sign indicates a decline in reserves.
Polak and Boissonneault, op. cit., pp. 349–415.
Polak and Boissonneault, op. cit., pp. 358–59.
This was done in view of the consideration that these imports were not directly linked with domestic income.