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The paper concludes that world copper prices play an important role in short-term fluctuations and probably influence long-term growth of the Chilean economy. While many mechanisms may be at work, investment seems to play a major role. In a copper price boom, the higher copper price and associated capital inflows create upward pressure on the real exchange rate. The appreciation of the Chilean peso during the first part of the copper cycle contributes to lower inflation, which could partly explain why real wages grow more rapidly in this part of the cycle.

Investments: Metals --- Inflation --- Macroeconomics --- Natural Resource Extraction --- Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) --- Metals and Metal Products --- Cement --- Glass --- Ceramics --- Industry Studies: Primary Products and Construction: General --- Price Level --- Deflation --- Investment & securities --- Extractive industries --- Economic growth --- Metal prices --- Copper --- Mining sector --- Business cycles --- Prices --- Commodities --- Economic sectors --- Metals --- Mineral industries --- Chile

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By the end of 2007, Chile's total factor productivity was lower than ten years earlier, a performance that contrasted sharply with the previous decade, when productivity grew by a cumulative 30 percent. This paper assesses productivity trends in Chile, by decomposing productivity into investment-specific technological change (associated with improvements in the quality of capital) and neutral technological change (related to the organization of productive activities). It concludes that investment-specific technological improvements have contributed significantly to long-term growth in Chile, in line with trends observed in other net commodity exporters, while neutral technological change has been slow.

Macroeconomics --- Public Finance --- Natural Resource Extraction --- Production and Operations Management --- Macroeconomics: Production --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- National Government Expenditures and Related Policies: General --- Industry Studies: Primary Products and Construction: General --- Public finance & taxation --- Extractive industries --- Productivity --- Total factor productivity --- Production growth --- Public expenditure review --- Mining sector --- Industrial productivity --- Economic theory --- Expenditures, Public --- Mineral industries --- Chile

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This Selected Issues paper examines recent economic developments in Sierra Leone. The paper highlights that the economic recovery in Sierra Leone has benefited especially from the extensive rehabilitation and humanitarian activities in liberated areas. Real GDP growth rose by 4 percent in 2000 and accelerated further in 2001 and 2002. The paper lays out some conceptual issues for the analysis of government debt sustainability, and discusses key issues related to long-term fiscal sustainability. The challenges ahead for rehabilitating Sierra Leone’s mining sector are also examined.

Macroeconomics --- Public Finance --- Natural Resource Extraction --- Natural Resources --- Industry Studies: Primary Products and Construction: General --- Debt --- Debt Management --- Sovereign Debt --- Nonrenewable Resources and Conservation: General --- Fiscal Policy --- Extractive industries --- Public finance & taxation --- Environmental management --- Mining sector --- Public debt --- Non-renewable resources --- Fiscal stance --- Domestic debt --- Economic sectors --- Environment --- Fiscal policy --- Mineral industries --- Debts, Public --- Natural resources --- Sierra Leone

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Gold mining represents an engine of growth for the Malian economy. A description of the techniques and importance of artisanal gold mining in Mali, the key developments of the industrial mining era, and potential gold mining developments are discussed in the paper. The Malian mining policy and regulations, the impact of industrial gold mining on the Malian economy, public finances, and employment are discussed. The statistical data on the economic indices of Mali are also presented in the paper.

Investments: Commodities --- Investments: Metals --- Exports and Imports --- Public Finance --- Natural Resource Extraction --- Industry Studies: Primary Products and Construction: General --- Metals and Metal Products --- Cement --- Glass --- Ceramics --- Agriculture: General --- National Government Expenditures and Related Policies: General --- Trade: General --- Extractive industries --- Investment & securities --- Public finance & taxation --- International economics --- Mining sector --- Gold --- Agricultural commodities --- Expenditure --- Exports --- Mineral industries --- Farm produce --- Expenditures, Public --- Mali

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This paper examines the challenges and policy options after hyperinflation in Zimbabwe. The paper reviews the pros and cons of alternative monetary regimes for Zimbabwe to succeed the current multicurrency system, which the authorities consider a temporary arrangement. The analysis suggests that some form of official dollarization has significant advantages. The paper also assesses competitiveness and external sustainability in debt-distressed Zimbabwe. It also makes a case for creating fiscal space for growth and development in post-hyperinflation Zimbabwe.

Exports and Imports --- Foreign Exchange --- Money and Monetary Policy --- Natural Resource Extraction --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Industry Studies: Primary Products and Construction: General --- International Investment --- Long-term Capital Movements --- Monetary economics --- Extractive industries --- Currency --- Foreign exchange --- International economics --- Currencies --- Dollarization --- Mining sector --- Currency boards --- External position --- Money --- Monetary policy --- Economic sectors --- Mineral industries --- International finance --- Zimbabwe