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The paper reviews Djibouti’s macroeconomic reforms aimed at achieving middle-income status as envisaged in Vision Djibouti 2035, the authorities’ development strategy. In this context, the paper reviews policy options available to the authorities in three critical reform areas: translating the investment boom into strong and inclusive growth to reduce poverty and unemployment; fiscal policy to support growth while preserving debt sustainability; and the important role of the business climate in growth acceleration.

Macroeconomics. --- Economics --- Corporate Finance --- Macroeconomics --- Public Finance --- Poverty and Homelessness --- Intertemporal Choice and Growth: General --- Aggregate Factor Income Distribution --- Measurement and Analysis of Poverty --- Debt --- Debt Management --- Sovereign Debt --- Welfare, Well-Being, and Poverty: General --- Fiscal Policy --- Financial Institutions and Services: General --- National Government Expenditures and Related Policies: General --- Public finance & taxation --- Poverty & precarity --- Public debt --- Poverty --- Fiscal space --- Business environment --- Expenditure --- Fiscal policy --- Economic sectors --- Debts, Public --- Business enterprises --- Expenditures, Public --- Djibouti

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Low-income economies face negative shocks whose frequency and disproportionate impact overcome growth trajectories, producing a negative drift. COVID-19 was the latest such episode. To escape this negative drift, and build a durable recovery, there is a need for a counter-balancing force: to construct a positive shock. Growth is realized through decisions that fall under two categories, routine and non-linear. While routine decisions modify existing economic behavior along the same path, non-linear decisions describe riskier options that involve transformation. Option pricing theory can be useful to describe the latter, and construct the positive shock required to escape the negative drift.

Asset prices --- Capacity --- Capital --- Communicable diseases --- Covid-19 --- Currency crises --- Deflation --- Diseases: Contagious --- Economic & financial crises & disasters --- Economic Development, Innovation, Technological Change, and Growth: General --- Economics of specific sectors --- Economics --- Economics: General --- Health Behavior --- Health --- Infectious & contagious diseases --- Inflation --- Informal sector --- Intangible Capital --- Intertemporal Choice and Growth: General --- Investment --- Investments: General --- Macroeconomics --- Microeconomic Analyses of Economic Development --- National accounts --- Price Level --- Prices --- Return on investment --- Saving and investment

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The paper examines the poverty-reducing and distributional characteristics of Djibouti’s economic growth, and discusses policies that might help make growth more inclusive. It covers the period between 2002 and 2013, for which comparable household surveys are available. The main findings are that while in the past decade the overall level of poverty in Djibouti declined, there have been no clear signs of improvements in either equality or growth inclusiveness. Growth has not been inclusive and benefitted mainly those in the upper part of the income distribution. These conclusions should be treated as indicative. Progress in poverty reduction and inclusiveness would require not only sustained high growth but also the creation of opportunities in sectors with high earning potential for the poor. Better targeted social policies and more attention to the regional distribution of spending would also help reduce poverty and improve inclusiveness.

Economic development. --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Economic development --- E-books --- Macroeconomics --- Social Services and Welfare --- Demography --- Poverty and Homelessness --- Intertemporal Choice and Growth: General --- Aggregate Factor Income Distribution --- Measurement and Analysis of Poverty --- Welfare, Well-Being, and Poverty: General --- Government Policy --- Provision and Effects of Welfare Program --- Demographic Economics: General --- Poverty & precarity --- Social welfare & social services --- Population & demography --- Poverty --- Income inequality --- Poverty reduction --- Population and demographics --- Income --- National accounts --- Income distribution --- Population --- Djibouti

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The paper examines Senegal’s growth performance from the perspective of its povertyreducing and distributional characteristics, and discusses policies that might help make growth more inclusive. The main findings are that poverty has fallen in the last two decades, but poverty reduction has slowed in recent years. Although available indicators sometimes give conflicting signals on distributional shifts, people in the middle of the income distribution have received the most benefit, mainly in urban areas. Further progress in poverty reduction and inclusiveness would require sustained high growth and exploration of growth opportunities in the sectors with high earning potential for the poor. Better-targeted social policies and more attention to the regional distribution of spending would also help reduce poverty and improve inclusiveness.

Income distribution --- Poverty --- Destitution --- Wealth --- Basic needs --- Begging --- Poor --- Subsistence economy --- Distribution of income --- Income inequality --- Inequality of income --- Distribution (Economic theory) --- Disposable income --- Government policy --- Senegal --- Economic policy. --- Macroeconomics --- Social Services and Welfare --- Poverty and Homelessness --- Demography --- Intertemporal Choice and Growth: General --- Aggregate Factor Income Distribution --- Measurement and Analysis of Poverty --- Welfare, Well-Being, and Poverty: General --- Government Policy --- Provision and Effects of Welfare Program --- Macroeconomics: Consumption --- Saving --- Demographic Economics: General --- Poverty & precarity --- Social welfare & social services --- Population & demography --- Poverty reduction --- Income --- Consumption --- National accounts --- Population and demographics --- Economics --- Population

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We examine the impact of digitalization on people’s perceptions of women as political leaders in 34 Sub-Saharan African countries. We find that being a social media or internet user is linked to a higher likelihood of people supporting gender equality in political leadership. However, the intensive margin of usage does not appear to be significant. Furthermore, women’s perceptions of gender equality in political leadership are more sensitive to internet and social media use than men’s. The paper recommends policies for improving ICT infrastructure and investing in technological education.

Macroeconomics --- Economics: General --- Web: Social Media --- Women''s Studies' --- Gender Studies --- Industries: Information Technololgy --- Intertemporal Choice and Growth: General --- Economics of Gender --- Non-labor Discrimination --- Economywide Country Studies: Africa --- Economic Sociology --- Economic Anthropology --- Language --- Social and Economic Stratification --- Technological Change: Choices and Consequences --- Diffusion Processes --- Economic & financial crises & disasters --- Economics of specific sectors --- Social media --- social networking --- Gender studies --- women & girls --- Social discrimination & equal treatment --- Information technology industries --- Gender studies, gender groups --- Social networks --- Technology --- Women --- Gender --- Gender inequality --- Digitalization --- Gender diversity --- Currency crises --- Informal sector --- Economics --- Sex discrimination --- Information technology --- Sex role --- Social networking --- Women & girls --- Women's Studies