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Macroeconomic Research in Low-income Countries: Advances Made in Five Key Areas Through a DFID-IMF Collaboration
Author:
Hites Ahir
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Hendre Garbers
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Mattia Coppo
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Mr. Giovanni Melina
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Mr. Futoshi Narita
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Ms. Filiz D Unsal
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Vivian Malta https://isni.org/isni/0000000404811396, International Monetary Fund

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Xin Tang https://isni.org/isni/0000000404811396, International Monetary Fund

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Daniel Gurara https://isni.org/isni/0000000404811396, International Monetary Fund

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Luis-Felipe Zanna
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Linda G. Venable
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Mr. Kangni R Kpodar
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Mr. Chris Papageorgiou
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Series:
Departmental Papers
Volume/Issue:
Volume 2021: Issue 006
Language:
English
Publication Date:
24 Mar 2021
DOI:
https://doi.org/10.5089/9781513566603.087
ISBN:
9781513566603
ISSN:
2616-5333
Pages:
77
Keywords:
Low-income-countries; Investments; Monetary policy; DPPP; DP; transmission mechanism; exchange rate; IMF economist; interest rate; LIC economy; rate of return; credit entry; IMF country team; IMF gender portal; monetary policy formulation; DFID-IMF monetary policy agenda; LICS face; Public investment spending; Income inequality; Gender inequality; Income; Global; Sub-Saharan Africa
Legal-disclaimer:
The Departmental Paper Series presents research by IMF staff on issues of broad regional or cross-country interest. The views expressed in this paper are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Despite strong economic growth since 2000, many low-income countries (LICs) still face numerous macroeconomic challenges, even prior to the COVID-19 pandemic. Despite the deceleration in real GDP growth during the 2008 global financial crisis, LICs on average saw 4.5 percent of real GDP growth during 2000 to 2014, making progress in economic convergence toward higher-income countries. However, the commodity price collapse in 2014–15 hit many commodity-exporting LICs and highlighted their vulnerabilities due to the limited extent of economic diversification. Furthermore, LICs are currently facing a crisis like no other—COVID-19, which requires careful policymaking to save lives and livelihoods in LICs, informed by policy debate and thoughtful research tailored to the COVID-19 situation. There are also other challenges beyond COVID-19, such as climate change, high levels of public debt burdens, and persistent structural issues.
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Cover Departmental Papers
Departmental Papers
ISSN:
2616-5333
Publisher:
International Monetary Fund