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Book
Inflation Dynamics in Madagascar, 1971-2000
Authors: ---
ISBN: 1462307485 1452784507 1282106864 1451903510 9786613800213 Year: 2001 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

The paper analyzes the dynamics of inflation in Madagascar in the period 1971-2000, applying cointegration analysis and error correction modeling. The empirical results, based on quarterly data, confirm that there exists a stable money demand relationship, as well as a purchasing power relationship in the long run. The former enters the short-run dynamics of inflation and money growth, while the latter affects the short-run dynamics of the exchange rate only. We also find that an appreciation has a direct negative impact on inflation and that inflation inertia is important. In addition, we conduct FIML estimation of the system and trace the impulse responses to various shocks.


Book
Mozambique : Economic Rehabilitation and the Poor
Authors: ---
ISBN: 1462380212 1455214205 Year: 1991 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

Poverty has remained widespread in Mozambique, mostly on account of the prevalent war situation. This paper provides a profile of the lowest income groups in Mozambique and examines how they were affected by the economic recovery program of 1986–90. The results, indicate that despite large price adjustments, in real terms minimum and low wages improved over the 1986–90 period. Agricultural production increased in response to better incentives, and small farmers in safe areas improved their relative income position. However, in the presence of a large refugee population and war-related destruction, there continues to be a pressing need for extended emergency aid.


Book
Access to Bank Credit in Sub-Saharan Africa : Key Issues and Reform Strategies
Authors: ---
ISBN: 1462389171 145276025X 1283511355 1451907214 9786613823809 Year: 2005 Publisher: Washington, D.C. : International Monetary Fund,

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This study discusses issues of access to bank credit in Sub-Saharan Africa, and examines measures that could help facilitate access by the private sector to bank credit. It reviews in particular obstacles to credit small- and medium-scale enterprises and agriculture, and examines progress in the design and implementation of reform measures that are needed to create an institutional environment more supportive of credit activity. It also reviews bank interest rate spreads and profit margins, and their determinants, and compares such spreads with those prevailing in other regions of the world.


Book
The Impact of Human Capital on Growth : Evidence from West Africa
Authors: --- ---
ISBN: 1462336752 1452777446 1283553201 1451903006 9786613865656 Year: 1998 Publisher: Washington, D.C. : International Monetary Fund,

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This paper analyzes the impact of human capital on growth, on the basis of refined calculations of human capital, and with a focus on West Africa. Using a growth-accounting methodology, it distinguishes the sources of growth between the accumulation of factors of production and changes in production intensity or efficiency. Private capital is found to be particularly important to growth, but human capital appears not to be significant. The paper also identifies the terms of trade, trade openness, the government deficit, and the share of government investment in total investment as key policy variables affecting growth.


Book
Mauritius, challenges of sustained growth.
Authors: --- ---
Year: 2005 Publisher: Washington International monetary fund

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Mauritius : Challenges of Sustained Growth
Authors: --- --- ---
ISBN: 158906416X 1462355277 1452779600 Year: 2005 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

Mauritius has achieved remarkable success since its independence in 1968. It has one of the highest per capita GDPs in Africa, the economy has diversified from complete dependence on the sugar crop, into textiles, then tourism, and recently information and communication services. This paper examines the factors that have contributed to this impressive growth, including macroeconomic stability, a solid institutional framework, political stability, an efficient administration, a favorable regulatory framework, and a well-developed financial system, and outlines the challenges that remain to ensure continued sustainable growth in Mauritius.

Keywords

Labor market --- Financial institutions --- Monetary policy --- Marché du travail --- Institutions financières --- Politique monétaire --- Mauritius --- Ile Maurice --- Economic conditions. --- Economic policy. --- Conditions économiques --- Politique économique --- Marché du travail --- Institutions financières --- Politique monétaire --- Conditions économiques --- Politique économique --- Economic conditions --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Financial intermediaries --- Lending institutions --- Associations, institutions, etc. --- Employees --- Market, Labor --- Supply and demand for labor --- Markets --- Supply and demand --- Île Maurice --- Maurice --- Drontens ö --- Mōrishasu --- Mavrikiĭ --- Republic of Mauritius --- Môriśasa --- Mārīśasa --- Mauritious --- République de Maurice --- Repiblik Moris --- モーリシャス --- Mauricio --- Estado de Mauricio --- מאוריציוס --- Maʼuritsyus --- Île de France --- Banks and Banking --- Investments: Commodities --- Exports and Imports --- Labor --- Public Finance --- Debt --- Debt Management --- Sovereign Debt --- Trade: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Wages, Compensation, and Labor Costs: General --- Agriculture: General --- General Financial Markets: General (includes Measurement and Data) --- Public finance & taxation --- Labour --- income economics --- International economics --- Investment & securities --- Banking --- Public debt --- Exports --- Agricultural commodities --- Labor markets --- Education --- International trade --- Commodities --- Debts, Public --- Banks and banking --- Wages --- Farm produce --- Income economics


Book
The Macroeconomic Impact of Scaled-Up Aid : The Case of Niger
Authors: --- --- ---
ISBN: 1451916191 1462364861 145187183X 9786612842580 1282842587 1452728887 Year: 2009 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

We develop a simple macroeconomic model that assesses the effects of higher foreign aid on output growth and other macroeconomic variables, including the real exchange rate. The model is easily tractable and requires estimation of only a few basic parameters. It takes into account the impact of aid on physical and human capital accumulation, while recognizing that the impact of the latter is more protracted. Application of the model to Niger-one of the poorest countries in the world-suggests that if foreign aid as a share of GDP were to be permanently increased from the equivalent of 10 percent of GDP in 2007 to 15 percent in 2008, annual economic growth would accelerate by more than 1 percentage point, without generating significant risks for macroeconomic stability. As a result, by 2020 Niger's income per capita would be 12.5 percent higher than it would be without increased foreign aid. Moreover, the higher growth would help Niger to cut the incidence of poverty by 25 percent by 2015, although the country will still be unable to reach the Millennium Development Goal of poverty reduction (MDG 1).

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