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Author : Kazi M. Matin
Publisher : World Bank Publications
Page : 44 pages
File Size : 43,8 Mb
Release : 1992
Category : Apertura economica - Africa (Sud-Sahara)
ISBN : 8210379456XXX
Author : Mr.Enrique Gelbard,Mr.Sérgio Pereira. Leite
Publisher : International Monetary Fund
Page : 29 pages
File Size : 50,5 Mb
Release : 1999-08-01
Category : Business & Economics
ISBN : 9781451852806
This study introduces an index for measuring financial development and a set of six indices representing key characteristics of the financial systems in 38 sub-Saharan African countries. The results show that these countries have made good progress in improving and modernizing their financial systems during the last decade, particularly with regard to financial liberalization and the adoption of indirect instruments of monetary policy. In many countries, however, the range of financial products remains extremely limited, interest rate spreads are wide, capital adequacy ratios are insufficient, judicial loan recovery is a problem, and the share of nonperforming loans is large.
Author : Mr.Anupam Basu,Mr.Anthony A. Calamitsis,Mr.Dhaneshwar Ghura
Publisher : International Monetary Fund
Page : 24 pages
File Size : 48,6 Mb
Release : 2000-10-02
Category : Business & Economics
ISBN : 1557759669
Africa is the world’s poorest continent, but amid all the bad news, there is hope for change. This pamphlet examines the lessons to be learned from some of the more successful economies south of the Sahara, and discusses a policy framework to promote sustainable economic growth and reduce poverty across the region.
Author : Mr.Giovanni Melina,Mr.Rafael A Portillo
Publisher : International Monetary Fund
Page : 32 pages
File Size : 51,6 Mb
Release : 2019-01-22
Category : Business & Economics
ISBN : 9781484394533
We compare business cycle fluctuations in Sub-Saharan African (SSA) countries vis-à-vis the rest of the world. Our main results are as follows: (i) African economies stand out by their macroeconomic volatility, which is is reflected in the volatility of output and other macro variables; (ii) inflation and output tend to be negatively correlated; (iii) unlike advanced economies and emerging markets (EMs), trade balances and current accounts are acyclical in SSA; (iv) the volatility of consumption and investment relative to GDP is larger than in other countries; (v) the cyclicality of consumption and investment is smaller than in advanced economies and EMs; (vi) there is little comovement between consumption and investment; (vii) consumption and investment are strongly positively correlated with imports.
Author : Voxi Heinrich Amavilah
Publisher : Rowman & Littlefield
Page : 147 pages
File Size : 41,6 Mb
Release : 2020-05-28
Category : Business & Economics
ISBN : 9781498597845
Extant research continues to perpetuate a myth of Sub-Saharan African countries (SSACs) as ever stuck in the past and with incurable growth maladies. However, during the years just before the great global recession some of these countries performed better than countries in other regions. What explains this turnaround? How can it be ignited everywhere in the region and made to stick? The Political Economy of Economic Performance is among a few competitors that celebrate the successes of the region and argue for the positive economics of performance of at least some countries. Organized around two themes which are pursued in six chapters, the book provides a comprehensive, balanced, and thorough analysis of the factors and forces behind the unusually good performance of SSACs just before the great global recession, and shows that there is a way forward for them. The book makes a significant contribution to both policy and research, because while its structure is scholarly and logical, with a writing style that is coherent and easily understandable to all interested readers worldwide.
Author : Francisco Arizala,Mr.Jesus R Gonzalez-Garcia,Mr.Charalambos G Tsangarides,Mustafa Yenice
Publisher : International Monetary Fund
Page : 37 pages
File Size : 54,9 Mb
Release : 2017-09-08
Category : Business & Economics
ISBN : 9781484314166
This paper examines the growth performance of sub-Saharan African countries since 1960 through the lens of growth turning points (accelerations and decelerations) and periods of sustained growth (growth spells). Growth accelerations are generally associated with improved external conditions, increased investment and trade openness, declines in inflation, better fiscal balances, and improvements in the institutional environment. Transitioning from growth accelerations to growth spells often requires additional efforts beyond what is needed to trigger an acceleration. Growth spells are sustained by fiscal policy that prevents excessive public debt accumulation, monetary policy geared toward low inflation, outward-oriented trade policies, and structural policies that reduce market distortions, as well as supportive external environment and improvements in democratic institutions. Overall, determinants of growth spells in sub-Saharan Africa are different from those in the rest of the emerging and developing countries.
Author : Mr.Antonio David,Mr.Montfort Mlachila,Ashwin Moheeput
Publisher : International Monetary Fund
Page : 38 pages
File Size : 53,6 Mb
Release : 2014-06-09
Category : Business & Economics
ISBN : 9781498329057
This paper analyzes the links between financial and trade openness and financial development in Sub-Saharan African (SSA) countries. It is based on a panel dataset using methods that tackle slope heterogeneity, cross-sectional dependence and non-stationarity, important econometric problems that are often ignored in the literature. The results do not point to a general direct robust link between trade and capital account openness and financial development in SSA, once we control for other factors such as GDP per capita and inflation. But there is some indication that trade openness is more important for financial development in countries with better institutional quality. The findings might be due to a number of factors including distortions in domestic financial markets, relatively weak institutions and/or poor financial sector supervision. Thus, African policy makers should be cautious about expectations regarding immediate gains for financial development from greater international integration. Such gains are more likely to occur through indirect channels.
Author : Kyung-woo Lee,Mr.Markus Haacker,Mr.Raju Jan Singh
Publisher : International Monetary Fund
Page : 28 pages
File Size : 43,9 Mb
Release : 2009-10-01
Category : Business & Economics
ISBN : 9781451873634
The paper investigates the determinants and the macroeconomic role of remittances in sub-Saharan Africa, assembling the most comprehensive dataset available so far on remittances in the region and incorporating data on the diaspora. It finds that remittances are larger for countries with a larger diaspora or when the diaspora is located in wealthier countries, and that they behave countercyclically, consistent with a role as a shock absorber. Although the effect of remittances in growth regressions is negative, countries with well functioning domestic institutions seem nevertheless to be better at unlocking the potential for remittances to contribute to faster economic growth.
Author : Mr.Dhaneshwar Ghura,Mr.Michael T. Hadjimichael
Publisher : International Monetary Fund
Page : 32 pages
File Size : 45,7 Mb
Release : 1995-12-01
Category : Business & Economics
ISBN : 9781451855753
The paper investigates empirically the determinants of economic growth for a large sample of sub-Saharan African countries during 1981-92. The results indicate that (i) an increase in private investment has a relatively large positive impact on per capita growth; (ii) growth is stimulated by public policies that lower the budget deficit in relation to GDP (without reducing government investment), reduce the rate of inflation, maintain external competitiveness, promote structural reforms, encourage human capital development, and slow population growth; and (iii) convergence of per capita income occurs after controlling for human capital development and public policies.
Author : Gonzalo Salinas,Ataman Aksoy
Publisher : World Bank Publications
Page : 50 pages
File Size : 51,7 Mb
Release : 2006
Category : Crecimiento economico
ISBN : 8210379456XXX
Abstract: The empirical study of the impact of trade liberalization has not convinced the skeptics about the economic gains after trade reforms. Some have even argued that trade reforms have led to economic collapse and to deindustrialization. Using a sample that excludes countries that were subject to major exogenous disruptions, the authors note that post-reform economic growth was 1.2 percentage points higher than before the reforms. This is remarkable considering that pre-reform periods were characterized by highly expansionary state policies and large external borrowing, and the crisis years that preceded trade liberalization in the comparisons are eliminated. Through multivariate fixed effects estimations the authors calculate that annual per capita GDP growth rates increased by up to 2.6 percentage points after the trade reforms, compared to a counterfactual that takes into consideration the evolution of several growth determinants. Moreover, trade liberalization has been followed by an acceleration of growth in investment, exports of goods and services, and manufacturing exports, and as opposed to common belief, outward orientation did not lead to significant deindustrialization and actually seems to have increased export diversification. Growth acceleration occurred irrespective of income per capita level and was quite significant in Sub-Saharan Africa. As expected, small countries benefited most from the reforms.
Author : Mr.Manuk Ghazanchyan,Ms.Janet Gale Stotsky
Publisher : International Monetary Fund
Page : 38 pages
File Size : 50,6 Mb
Release : 2013-11-22
Category : Business & Economics
ISBN : 9781475516487
This study examines the drivers of growth in Sub-Saharan African countries, using aggregate data, from the past decade. We correlate recent growth experience to key determinants of growth, including private and public investment, government consumption, the exchange regime and real exchange rate, and current account liberalization, using various econometric methodologies, including fixed and random effects models, with cluster-robust standard errors. We find that, depending on the specification, higher private and public investments boost growth. Some evidence is found that government consumption exerts a drag on growth and that more flexible exchange regimes are beneficial to growth. The real exchange rate and liberalization variables are not significant.
Author : Corinne Deléchat,Ms.Smita Wagh,Mr.Gustavo Ramirez,Mr.John Wakeman-Linn
Publisher : International Monetary Fund
Page : 39 pages
File Size : 44,7 Mb
Release : 2009-05-01
Category : Business & Economics
ISBN : 9781451872613
The paper uses a unique database covering 44 countries in sub-Saharan Africa (SSA) countries between 2000 and 2007 to study the determinants of the allocation and composition of flows across countries, as well as channels through which private capital flows could affect growth. In our sample, the degree of financial market development is an important determinant of the distribution of capital flows across countries as opposed to property rights institutions. The fairly consistent positive association between net capital flows and growth for SSA countries contrasts with the more pessimistic results of recent studies, though our data do not allow us to make conclusive inferences about a causality relationship.
Author : Céline Allard,Mr.Jorge I Canales Kriljenko,Mr.Jesus R Gonzalez-Garcia,Emmanouil Kitsios,Mr.Juan P Trevino,Ms.Wenjie Chen
Publisher : International Monetary Fund
Page : 43 pages
File Size : 52,5 Mb
Release : 2016-03-25
Category : Business & Economics
ISBN : 9781498349901
This analysis of the extent of trade integration of sub-Saharan African (SSA) countries in the global economy as well as within the region over the 1995–2013 period focuses on four key concepts: (1) trade openness, captured by import and export flows; (2) the centrality in the global and regional trade network, a measure that takes into account not only the size of trade but also the number of trade partners and the respective weight of these trade partners in global trade; (3) gravity model estimates that account for country- and region-specific determinants of bilateral trade flows; and (4) global value chain (GVC) integration. Using both existing data and a newly available dataset based on multiregion input and output tables, this analysis led to several findings: (1) trade openness has increased strongly; (2) integration in the global economy has made the region more vulnerable to external shocks; (3) levels of trade flows emanating from sub-Saharan Africa are still only half the magnitude of those experienced elsewhere in the world; (4) the region still has ways to go to better integrate in GVCs; and (5) it is more critical than ever to make progress in filling the infrastructure gap by lowering tariff and nontariff barriers, improving the business climate and access to credit, and continuing to enhance education outcomes.
Author : Cesar Calderon,Gerard Kambou,Vijdan Korman
Publisher : World Bank Publications
Page : 120 pages
File Size : 45,8 Mb
Release : 2018-10-03
Category : Electronic
ISBN : 9781464813658
"Africa's Pulse is a biannual publication containing an analysis of the near-term macroeconomic outlook for the region. Each issue also includes a section focusing upon a topic that represents a particular development challenge for the continent. It is produced by the Office of the Chief Economist for the Africa Region of the World Bank. Recent data point to a weakening of economic growth in Sub-Saharan Africa in 2018, according to the new Africa's Pulse, a bi-annual analysis of the state of African economies conducted by the World Bank. The growth slowdown can be attributed to the lower than expected performance of the large countries in the region (South Africa and Nigeria). The downswing reflects poorer performance in agriculture following droughts and lower performance of commodity sectors."
Author : Kwame Sundaram
Publisher : African Books Collective
Page : 36 pages
File Size : 52,9 Mb
Release : 2008-05-15
Category : Business & Economics
ISBN : 9782869783942
Sundaram notes that over three decades of economic stagnation, contraction and increased poverty have taken a huge toll on Africa's economic, social and political fabric; and pro-active efforts are urgently required in order to build new capacities and c
