Front Matter

Editor’s Note

The first article in this issue provides an overview of the large body of research at the IMF on patterns of trade and the determinants of growth in Africa. The second article, on exchange rate-based stabilization, surveys IMF research on a topic that continues to attract much attention in the context of emerging market economies.

The IMF’s role in Russia’s transition to a market economy has been the subject of considerable critical scrutiny both within and outside the institution. This issue’s country study summarizes extant and ongoing IMF research on Russia, which has contributed directly to the development of the analytical framework for the IMF’s work in this country.

Government finance statistics (GFS) is the special topic feature, with details of the forthcoming revised GFS manual, which describes a new set of concepts and procedures for constructing fiscal accounts. This issue also includes summaries of the May 2001 World Economic Outlook and the 2001 International Capital Markets Report.

— Eswar Prasad

In This Issue

Growth and Trade in Africa

Exchange Rate–Based Inflation Stabilization

Call for Papers

Visiting Scholars

Country Study: Russia

World Economic Outlook

International Capital Markets Report

External Publications by IMF Staff

IMF Working Papers

Government Finance Statistics

Front Matter Page

IMF Research Bulletin

Eswar Prasad


Helen Chin

Assistant Editor

Kellett Hannah

Systems Consultant

Choon Lee


Phil Torsani

Graphic Designer

Dawn Heaney

Editorial Assistant

The IMF Research Bulletin (ISSN: 1020-8313) is a quarterly publication in English and is available free of cost. Material from the bulletin may be reprinted with proper attribution. Editorial correspondence may be addressed to The Editor, IMF Research Bulletin, IMF, Room 10-548, Washington, DC 20431 U.S.A. or e-mailed to Subscription requests should be addressed to Publication Services, Box X2001, IMF, Washington, DC 20431 U.S.A.; e-mail: