Inequalities and Growth in the Southern African Customs Union (SACU) Region PDF Download
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Author: Olivier Basdevant Publisher: International Monetary Fund ISBN: 1475525060 Category : Business & Economics Languages : en Pages : 22
Book Description
This paper applies the work of Berg and Ostry (2011) to the SACU region, to identify how inequalities have played a role in growth in each of these countries, and elaborates policy options to mitigate the effects of inequalities and foster growth. Lower income inequalities could lead to significant gains, as SACU countries could almost double the duration of their growth periods, with much lower inequalities. While reducing inequalities may be desirable, the design of policies to achieve such objective is not trivial. Policies targeting income inequalities at the sources are expected to be the most effective to reduce inequalities and promote growth. However, direct redistribution, if carefully crafted can also be very effective in reducing inequalities while limiting its potentially negative impact on growth.
Author: Olivier Basdevant Publisher: International Monetary Fund ISBN: 1475525060 Category : Business & Economics Languages : en Pages : 22
Book Description
This paper applies the work of Berg and Ostry (2011) to the SACU region, to identify how inequalities have played a role in growth in each of these countries, and elaborates policy options to mitigate the effects of inequalities and foster growth. Lower income inequalities could lead to significant gains, as SACU countries could almost double the duration of their growth periods, with much lower inequalities. While reducing inequalities may be desirable, the design of policies to achieve such objective is not trivial. Policies targeting income inequalities at the sources are expected to be the most effective to reduce inequalities and promote growth. However, direct redistribution, if carefully crafted can also be very effective in reducing inequalities while limiting its potentially negative impact on growth.
Author: Almas Heshmati Publisher: Springer ISBN: 3319764934 Category : Business & Economics Languages : en Pages : 404
Book Description
This volume is a collection of selected empirical studies on determinants of economic growth in Africa. Grouped into three parts, chapters examine the influence of financial sources and economic growth; sources of productivity growth; and prices, exchange rates and trade relationships with growth in regions in Africa or the continent as a whole. This edited book is authored by African experts in the field who employ diverse up-to-date data and methods to provide robust empirical results based on representative firms, household surveys and secondary country level data covering individuals or multiple countries on the continent. It contains a wealth of empirical evidence, deep analyses and sound recommendations for policymakers and researchers for designing and implementing effective social and national policies and strategies to prevent and to reduce poverty and its negative effects on poor households and in poor regions. The volume will be a useful resource for policymakers and researchers involved in promoting economic growth and fighting poverty. It will also appeal to a broader audience interested in economic development, resource economics, policies, economic welfare and inclusive growth.
Author: Claudio E. Raddatz Publisher: World Bank Publications ISBN: Category : Business cycles Languages : en Pages : 53
Book Description
External shocks, such as commodity price fluctuations, natural disasters, and the role of the international economy, are often blamed for the poor economic performance of low-income countries. The author quantifies the impact of these different external shocks using a panel vector autoregression (VAR) approach and compares their relative contributions to output volatility in low-income countries vis-à-vis internal factors. He finds that external shocks can only explain a small fraction of the output variance of a typical low-income country. Internal factors are the main source of fluctuations. From a quantitative perspective, the output effect of external shocks is typically small in absolute terms, but significant relative to the historic performance of these countries.
Author: Publisher: UN ISBN: Category : Business & Economics Languages : en Pages : 166
Book Description
The fifth of the series (ARIA/V) has come at a time of renewed enthusiasm for shortening the period of the vision of the Abuja Treaty. Its overall objective is to provide an analytical research publication that defines frameworks for African Governments, the African Union and the Regional Economic Communities, towards accelerating the establishment of the African Common Market through: the speedy removal of all tariff and non-tariff barriers, obstacles to free movement of people, investments and factors of production in general across Africa, and through fast-tracking the creation of an African continental Free Trade Area
Author: Mr.Stephen Tokarick Publisher: International Monetary Fund ISBN: 1455202142 Category : Business & Economics Languages : en Pages : 42
Book Description
Trade elasticities are often needed in applied country work for various purposes and this paper describes a method for estimating import demand and export supply elasticities withoutusing econometrics. The paper reports empirical estimates of these elasticities for a large number of low, middle, and upper income countries. One task for which trade elasticities are needed is in developing exchange rate assessments and this paper shows how the estimated elasticities can be used for this purpose.
Author: International Monetary Fund. African Dept. Publisher: International Monetary Fund ISBN: 1513513907 Category : Business & Economics Languages : en Pages : 106
Book Description
This 2019 Article IV Consultation with Namibia discusses that with the temporary stimuli now ended, the economy is rebalancing while the government is implementing a significant fiscal consolidation. A likely slow recovery, the need for further fiscal adjustment to bring public debt to a sustainable path, persistent inequalities and structural impediments to growth, point to a challenging outlook. Immediate measures are needed to deliver the authorities’ fiscal adjustment plans and bring public debt to a sustainable path. Policies should combine spending reductions and revenue increases that support long-term growth. Better targeting of cash transfers would protect the poor. Structural reforms are urgently needed to strengthen productivity and external competitiveness and boost long-term growth. Reforms should streamline business regulations, contain public sector wage dynamics, and reduce costs of key production inputs. Over time, it is important to remove non-tariff barriers to exports, foster the adoption of new technologies, and address shortages of skilled workers.
Author: Mr.Lisandro Abrego Publisher: International Monetary Fund ISBN: 1513542370 Category : Business & Economics Languages : en Pages : 41
Book Description
Political momentum towards Africa-wide free trade has been intensifying. In March 2018, over 40 countries signed the African Continental Free Trade Area (AfCFTA) agreement. Once fully implemented, the AfCFTA is expected to cover all 55 African countries, with a combined GDP of about US$2.2 trillion. This SDN takes stock of recent trade developments in Sub-Saharan Africa and assesses the potential benefits and costs of the AfCFTA, as well as challenges to its successful implementation. In addition to increased trade flows both in existing and new products, the AfCFTA has the potential to generate substantial economic benefits for African countries. These benefits include higher income arising from increased efficiency and productivity from improved resource allocation, higher cross-border investment flows, and technology transfers. Besides lowering import tariffs, to ensure these benefits, African countries will need reduce other trade barriers by making more efficient their customs procedures, reducing their wide infrastructure gaps, and improving their business climates. At the same time, policy measures should be taken to mitigate the differential impact of trade liberalization on certain groups as resources are reallocated in the economy and activities migrate to locations with comparatively lower costs.
Author: Mr.Lamin Leigh Publisher: International Monetary Fund ISBN: 1498384269 Category : Business & Economics Languages : en Pages : 182
Book Description
This book describes the reforms needed to move small middle-income countries in sub-Saharan Africa to advanced-economy status. The result of intense discussions with public officials in the countries covered, the book blends rigorous theory, econometrics, and practitioners' insights to come up with practical recommendations for policymakers. It spans topics from macroeconomic vulnerability and reserve adequacy to labor market institutions and financial inclusion. The book is a must-read for researchers interested in the economic issues facing developing countries in sub-Saharan Africa.
Author: International Monetary Fund. African Dept. Publisher: International Monetary Fund ISBN: 1498350747 Category : Business & Economics Languages : en Pages : 79
Book Description
KEY ISSUES Context: Over the last two decades, good governance and sound macroeconomic management have delivered remarkable economic and social progress to Cabo Verde. More recently, however, growth has slowed due to the prolonged downturn in Europe and a sharp deterioration in domestic confidence. A longer-term decline in the contribution of total factor productivity to growth may also have played a role. Financial stability risks have increased with the rise in non-performing loans and fall in bank profitability. The country remains vulnerable to external shocks, given its dependence on tourism, remittances, and concessional financing. Over the longer term, Cabo Verde’s challenge as a new middle-income country is to bolster productivity and diversify the sources of growth. Fiscal consolidation remains critical to safeguard macroeconomic and debt sustainability. Budgetary plans for 2014 and the medium term entail rising public debt, and are subject to downside risks to revenue. The authorities have already decided on a package of expenditure containment measures for 2014–17. However, given the high albeit sustainable level of public debt, further measures are needed to put public debt on a more robust downward path. Bolstering domestic revenue mobilization, increasing the efficiency of public investment, and managing existing infrastructure better are also central to sound public finances. International reserves have recovered, which provided room to ease monetary policy in support of the recovery. In the absence of imminent pressures on the balance of payments or on prices, and with private sector credit growth having stalled, the central bank has cut the policy rate. At the same time, given pressures on the banking system, continued vigilance regarding risks to financial stability is warranted. Structural reforms hold the key to bolstering competitiveness, creating jobs, and delivering inclusive growth. Increasing labor market efficiency and reducing skill mismatches would be particularly beneficial in this regard. Enhancing the efficiency of state-owned enterprises is also essential to improve delivery of infrastructure services. Data are adequate for surveillance purposes, though some key shortcomings remain. In particular, national accounts data are released with a long delay. This complicates the formulation of macroeconomic policies.
Author: Olivier Basdevant
Author: Olivier Basdevant
Author: Almas Heshmati
Author: Claudio E. Raddatz
Author: 
Author: Mr.Stephen Tokarick
Author: International Monetary Fund. African Dept.
Author: Mr.Lisandro Abrego
Author: Ulrich Kohli
Author: Mr.Lamin Leigh
Author: International Monetary Fund. African Dept.