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Regional Papers on Africa



Problem or Solution: Data on Sub-National Debt for Infrastructural Development in Nigeria Problem or Solution: Data on Sub-National Debt for Infrastructural Development in Nigeria
Kingsley Imandojemu, World Economics, June 2017
Nigeria has witnessed a substantial rise in sub-national debt at the state level in an economy characterised by infrastructural decay and macro-economic imbalance. The mismanagement of sub-national debt in Nigeria has culminated in the inability of most states to meet t ... More


Implications of Illicit Financial Outflows for Macro-economic Management and Development Effectiveness in Africa Implications of Illicit Financial Outflows for Macro-economic Management and Development Effectiveness in Africa
Hippolyte Fofack , World Economics, December 2016
In Africa, a persistent rise in illicit financial outflows has compounded macroeconomic management challenges and heightened the risks of recurrent balance of payments crises. It has undermined the build-up of fiscal buffers that could have mitigated the macroeconomic i ... More


The Paris Climate Agreement heightens development challenges in Africa The Paris Climate Agreement heightens development challenges in Africa
Hippolyte Fofack, World Economics, June 2016
Although the Paris Agreement lacks a binding mechanism for capping carbon emissions, and a legally binding financial commitment to support climate change adaptation and mitigation in the developing world, it establishes a legal framework to accelerate the transition tow ... More


Yin Yang Oil Prices and the Rise of African Economies: Policy Implications Yin Yang Oil Prices and the Rise of African Economies: Policy Implications
Hippolyte Fofack, World Economics, December 2015
African oil exporters have been hard hit by the sustained decline in international oil prices. African oil importers are seeing dramatically lower oil import bills, but most have economies that are not energy-intensive enough to benefit greatly from the oil price change ... More


Investing in green growth for sustainable development in Africa Investing in green growth for sustainable development in Africa
Hippolyte Fofack, World Economics, September 2015
An overview of the distributional impact of global warming shows that the negative externalities of carbon-intensive development models are already significant in Africa. The most compelling reasons for promoting green investments in Africa is the direct economic return ... More


Can Intra-Regional Trade Act as a Global Shock Absorber in Africa? Can Intra-Regional Trade Act as a Global Shock Absorber in Africa?
Zuzana Brixiova, Qingwei Meng & Mthuli Ncube, World Economics, September 2015
The global financial crisis and the subsequent uneven recovery have underscored the need for Africa’s resilience to output and other shocks originated in the rest of the world. A comparison of two regional economic communities – the East African Community (EAC) and the ... More


African Diaspora Remittances are Better than Foreign Aid Funds African Diaspora Remittances are Better than Foreign Aid Funds: Diaspora-driven development in the 21st century
Adams Bodomo, World Economics, December 2013
In this article, two sources of socio-economic development finance for Africa, African Diaspora remittance funds and Overseas Development Assistance (ODA) funds, are compared. It is argued that Diaspora remittance funds constitute a better alternative to ODA funds for t ... More


Remittances and their Macroeconomic Impact Remittances and their Macroeconomic Impact: Evidence from Africa
Mthuli Ncube & Zuzana Brixiova, World Economics, December 2013
This paper examines the macroeconomic trends, drivers and the impact of remittances in Africa. First, it documents the increasing share of remittances relative to other foreign capital flows to Africa, the distribution of remittance inflows across countries, and some ke ... More


Strengthening the Early Warning Exercise Strengthening the Early Warning Exercise: Enhancing IMF and FSB coordination
Bessma Momani, Skylar Brooks, Michael Cockburn, Warren Clarke & Dustyn Lanz, World Economics, September 2013
Following the 2007–2008 global financial crisis, the G20 leaders tasked the International Monetary Fund (IMF) and the newly created Financial Stability Board (FSB) to jointly undertake Early Warning Exercises (EWEs) in order to identify vulnerabilities within the global ... More


Pastoralism: Africa’s Invisible Economic Powerhouse? Pastoralism: Africa’s Invisible Economic Powerhouse?
James MacGregor & Ced Hesse, World Economics, March 2013
Many elements of developing economies are missing from their national accounts. This is more than a statistical dilemma. It hampers the development of government policy, results in under-investment in those missing elements and simultaneous over-investment in others, an ... More


Agricultural Statistics Agricultural Statistics: Who benefits from distortions?
Morten Jerven, World Economics, March 2013
In developing economies the data on agricultural production are weak. Because these data are assembled using competing methods and assumptions, the final series are subject to political pressure, particularly when the government is subsidizing agricultural inputs. This ... More


Measuring African GDP Measuring African GDP: The next success story?
Joe Downie, World Economics, June 2011
There is much speculation about the growth potential of African economies. But in the light of unreliable official statistics and the highly selective information often presented by investment companies with an incentive to highlight the positive, this article aims to p ... More


Global Financial Crisis, Protectionism and Current Account Deficit Global Financial Crisis, Protectionism and Current Account Deficit: South Africa on the brink?
Peter Draper, Andreas Freytag & Sebastian Voll, World Economics, June 2011
The recent financial and economic crisis, and the resurgence in the popularity of emerging markets has raised fears in these economies of a resumption in capital flight or a sudden stop of capital inflows. The latter, in particular, is intensively discussed in South Afr ... More


Africa’s Water Africa’s Water: Big issues with big consequences for a big continent
World Economics, June 2011
Water underpins the whole of Africa’s economy, be it municipal, agricultural, industrial or mining, and is, unfortunately, often a critical factor in limiting economic growth or peace and stability. Aside from the issues of poor health, inadequate water and sanitation i ... More


Sub-Saharan Africa Sub-Saharan Africa: Outlook and challenges
Veronica Kalema, World Economics, June 2011
Sub Saharan Africa’s (SSA’s) growth bounced back to 5% in 2010 following a slowdown to 2.8% in 2009 because of the GFC. Moreover, SSA’s 5-plus growth rate is sustainable. Improvements in domestic fundamentals due to better economic management and improved political stab ... More


Vibrant Africa Continues to Attract Vibrant Africa Continues to Attract: The economic potential of Nigeria and Sub-Saharan Africa
Funmi Akinluyi, World Economics, June 2011
The global economic crisis of 2007–09 left Sub-Saharan countries relatively unscathed. There are a number of reasons for this, but one crucial factor has been the relative lack of integration of the economies of most Sub-Saharan countries with the world economy. This in ... More


A New Challenge A New Challenge: The myriad new opportunities offered by East Africa’s oil and gas basin
Ziwase Ndhlovu, World Economics, June 2011
Over the last five years there has been a noticeable shift in focus among leading oil and gas companies active in the continent of Africa. Rather than focusing on West and North Africa for investment opportunities, there has been a move to explore new prospects in East ... More


Malthus Postponed Malthus Postponed: The potential to promote palm oil production in Africa
Keith Boyfield & Inna Ali, World Economics, June 2011
The authors examine the potential to promote palm oil production in the tropical regions of sub-Saharan Africa. Given world population pressures and soaring food prices, the need to grow more food has never been more urgent. Palm oil cultivation offers one possible rout ... More


The European Union’s Trade Policies and Africa’s Exports The European Union’s Trade Policies and Africa’s Exports
Olayinka Idowu Kareem, World Economics, June 2011
An important determinant of the sustainability of growth in Africa is the extent to which the continent can exploit the opportunities available from trade. Trade barriers exist to key African exports, which make it difficult for the continent to take advantage of the gr ... More


Connecting the African Continent Connecting the African Continent: Infrastructure, growth and poverty reduction
Peter Dearden, Nemat Shafik & Leonard Tedd, World Economics, June 2011
This paper provides an overview of the contribution of economic infrastructure to growth and human development in Africa. Challenges for infrastructure provision including finance, recurrent costs and public-sector responsibilities are covered, together with assessment ... More


Boosting Infrastructure Investments in Africa Boosting Infrastructure Investments in Africa
Donald Kaberuka, World Economics, June 2011
The absolute and relative lack of infrastructure in Africa suggests that the continent’s competitiveness could be boosted by scaling up investments in infrastructure. Such investments would facilitate domestic and international trade, enhance Africa’s integration into t ... More


Keith Boyfield on Dambisa Moyo: Dead Aid Keith Boyfield on Dambisa Moyo: Dead Aid
Keith Boyfield
World Economics, June 2010
... More


Governance and Development Governance and Development: The current role of theory, policy and practice
Michael Chibba, World Economics, June 2009
Governance matters are arguably at the core of international development. What role do theory, policy and practice play in shaping matters of governance with respect to development? This review paper, which is organised in three parts, focuses on this subject since the ... More


Monetary Policy, Governance and Economic Development Monetary Policy, Governance and Economic Development: The Botswana experience
Michael Chibba, World Economics, September 2007
Botswana is at a crossroads, as economic growth has slowed significantly in recent years while social problems remain largely unresolved. Exacerbating this situation is a monetary policy in crisis as over a decade of generally high interest rates have failed to address ... More


How Many Wildebeest do You Need? How Many Wildebeest do You Need?
Mike Norton-Griffiths, World Economics, June 2007
The catastrophic decline of wildlife in Kenya—some 60% over the last 30 years—finally galvanised the government into a review of wildlife policy. But what should have been a sober discussion of market failures, institutional failures, policy failures and conservation fa ... More


Monetary Policy, Macro-stability and Growth Monetary Policy, Macro-stability and Growth: South Africa’s recent experience and lessons
Janine Aron & John Muellbauer, World Economics, December 2005
There is greater appreciation now amongst economists of the negative effect of uncertainty on investment, growth and equality, especially when credit constraints are widespread. This implies an important linkage between the transparency and predictability of the policy ... More


The Health and Wealth of Africa The Health and Wealth of Africa
David E. Bloom & David Canning, World Economics, June 2004
Among Africa’s problems, chronic poverty and poor health stand out. Traditional development thinking has maintained that health improvements are a consequence of income growth. But new evidence shows that investing in health, with the aid of the international communi ... More


Can Africa Catch Up? Can Africa Catch Up?
Arne Bigsten, World Economics, June 2002
The trend towards globalization of the last few decades has been manifested in the sustained growth of world trade and flows of investment and technology. For most regions this growing integration has led to rapidly growing per capita incomes, while Africa has stagna ... More


Policy-Making in Resource-Rich Countries Policy-Making in Resource-Rich Countries: Lessons from Zambia
Arne Bigsten, World Economics, September 2001
Economic development depends upon resource availability, resource allocation, and the efficiency of resource use. One would presume that countries with an abundance of natural resources would stand a better chance of developing than resource-poor countries. Recent ex ... More