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The paper explores the quality of the recent high-growth episode in sub-Saharan Africa by examining the following two questions: (i) what has been the...
Promoting Inclusive and Sustainable Growth
This paper discusses how sub-Saharan Africa’s financial sector developed in the past few decades, compared with other regions. Sub-Saharan African c...
The Macroeconomic Context
Many countries in sub-Saharan Africa (SSA) have seen accelerated growth for an extended period of time since the mid-1990s, making a clear break with ...
Why do commodity-dependent developing countries have typically lower levels of financial development than their peers? The literature has proposed man...
This paper investigates the impact of commodity price shocks on financial sector fragility. Using a large sample of 71 commodity exporters among emerg...
This paper analyzes the links between financial and trade openness and financial development in Sub-Saharan African (SSA) countries. It is based on a ...
A Proposal
This paper proposes a new quality of growth index (QGI) for developing countries. The index encompasses both the intrinsic nature and social dimension...
Patterns and Spillovers
Amid rapid population growth, migration in sub-Saharan Africa has been increasing briskly over the last 20 years. Up to the 1990s, the stock of migran...
Exploring Different Channels
After close to two decades of strong economic activity, overall growth in sub-Saharan Africa decelerated markedly in 2015–16 as the largest economie...
Spillovers from Nigeria’s Fuel Pricing Policies to Its Neighbor
This paper examines the constraints that negative externalities (i.e., smuggling from a large neighbor) impose on the application of automatic fuel pr...
While South Africa has made significant improvements in basic and tertiary education enrollment, the country still suffers from significant challenges...
Climate change is likely to lead to more frequent and more severe supply and demand shocks that will present a challenge to monetary policy formulatio...
This paper explores the relationship between external debt and poverty. A number of observers have argued that high external indebtedness is a major c...
Emerging Growth Driver?
Despite the rapid increase in FDI flows to LICs, there have been relatively few studies that have specifically examined these flows. This paper attemp...
The Macroeconomic Impact of Trade Preference Erosion
This paper examines the macroeconomic effects of the erosion of trade preferences, with a focus on the export of Caribbean bananas to Europe. Estimate...
The Role of Accelerations and Decelerations
With the exception of Burkina Faso and Mali, the growth experience for WAEMU countries has been disappointing, even when compared to other sub-Saharan...