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Departmental Papers on Africa

The Departmental African Paper Series covers research on Sub-Saharan Africa conducted by Fund staff, particularly on issues of broad regional or cross-country interest.


Building Resilience in Sub-Saharan Africa's Fragile States

African Departmental Paper No. 15/5
Subject(s): Political economy ; Sub-Saharan Africa ; Rwanda ; Mozambique ; Congo, Democratic Republic of the ; Central African Republic ; Ethiopia ; Mali ; Sierra Leone ; Fiscal policy ; Fiscal reforms ; Stabilization measures ; Economic growth ; Cross country analysis

Dollarization in Sub-Saharan Africa : Experiences and Lessons

African Departmental Paper No. 15/4
Subject(s): Dollarization ; Sub-Saharan Africa ; Foreign exchange ; Foreign currency deposits ; Capital controls ; Econometric models

Pan-African Banking : Opportunities and Challenges for Cross-Border Oversight

African Departmental Paper No. 15/3
Subject(s): Banking systems ; Sub-Saharan Africa ; Systemically important financial institutions ; Cross-border banking ; Bank supervision ; Bank soundness ; Cross country analysis

Sustaining more Inclusive Growth in the Republic of Congo

African Departmental Paper No. 15/2
Subject(s): Sustainable development ; Republic of Congo ; Inclusive growth ; Oil revenues ; Nonoil sector ; Public investment ; Natural resources ; Debt sustainability ; Poverty and inequality ; Fiscal policy ; Fiscal consolidation ; Financial sector ; Financial services
Notes: Also available in French

Making Senegal a Hub for West Africa : Reforming the State, Building to the Future

African Departmental Paper No. 15/1
Subject(s): Economic conditions ; Senegal ; Economic growth ; Fiscal policy ; Export performance ; Foreign direct investment ; Policy Support Instrument ; Electric power ; Social safety nets
Notes: Also available in French


The Mystery of Missing Real Spillovers in Southern Africa: Some Facts and Possible Explanations

African Departmental Paper No. 14/3
Subject(s): Spillovers ; South Africa ; Southern Africa ; Demand ; External shocks ; Regional integration ; Trade integration

Issuing International Sovereign Bonds: Opportunities and Challenges for Sub-Saharan Africa

African Departmental Paper No. 14/2
Subject(s): Bonds ; Sub-Saharan Africa ; Access to capital markets ; Bond issues ; International bond markets ; Debt management and restructuring issues

Mozambique Rising: Building a New Tomorrow

African Departmental Paper No. 14/4
Subject(s): Economic growth ; Mozambique ; Economic policy ; Foreign direct investment ; Job creation ; Employment ; Demographic transition ; Natural resources ; Natural gas ; Public investment ; Agricultural sector ; Dutch disease
Notes: Also available in French and Portuguese

Managing Volatile Capital Flows: Experiences and Lessons for Sub-Saharan African Frontier Markets

Subject(s): Capital flows ; Sub-Saharan Africa ; Macroprudential Policy ; Monetary policy ; Cross country analysis


Mali: Achieving Strong and Inclusive Growth with Macroeconomic Stability

African Departmental Paper No. 13/8
Subject(s): Economic growth ; Oil prices ; Financial sector ; Banks ; Financial institutions ; Bank supervision ; Financial stability ; Mali

Responding to Shocks and Maintaining Stability in the West African Economic and Monetary Union

African Departmental Paper No. 13/7
Subject(s): External shocks ; West African Economic and Monetary Union ; Monetary policy ; Business cycles ; Fiscal policy ; Fiscal stability ; Cross country analysis ; West Africa

Senegal: Achieving High and Inclusive Growth While Preserving Fiscal Sustainability

African Departmental Paper No. 13/4
Subject(s): Economic growth ; Electric power ; Subsidies ; Government expenditures ; Fiscal sustainability ; Senegal

West African Economic and Monetary Union: Financial Depth and Macrostability

African Departmental Paper No. 13/6
Subject(s): Financial systems ; West African Economic and Monetary Union ; Banking sector ; Microfinance ; Financial institutions ; Monetary policy ; Macroprudential Policy ; Cross country analysis ; West Africa

Senegal: Financial Depth and Macrostability

African Departmental Paper No. 13/5
Subject(s): Financial sector ; Banks ; Microfinance ; Private sector ; Public sector ; Financial stability ; Financial systems

Banking in Sub-Saharan Africa: the Macroeconomic Context

African Departmental Paper No. 13/3
Subject(s): Economic growth ; Banking systems ; Bank supervision ; Sub-Saharan Africa

Energy Subsidy Reform in Sub-Saharan Africa

African Departmental Paper No. 13/2
Subject(s): Energy sector ; Sub-Saharan Africa ; Energy taxes ; Subsidies ; Electric power ; Gasoline prices ; Oil prices ; Fiscal reforms ; Cross country analysis
Notes: Also available in French

Restoring Sustainability in a Changing Global Environment: Options for Swaziland

African Departmental Paper No. 13/1
Subject(s): External shocks ; Spillovers ; Fiscal policy ; Fiscal risk ; Banking sector ; Nonbank financial sector ; Private sector ; Reserves ; Currency pegs ; Debt sustainability analysis ; Swaziland ; South Africa


Macroeconomic Vulnerabilities Stemming from the Global Economic Crisis: The Case of Swaziland

African Departmental Paper No. 11/07
Subject(s): Bank supervision ; Central banks ; Debt sustainability analysis ; Exchange rate assessments ; External debt ; Financial crisis ; Financial sector ; Public debt ; Reserves adequacy ; Swaziland

What Do Fast Job Creators Look Like? Some Stylized Facts and Perspectives on South Africa

African Departmental Paper No. 11/06
Subject(s): Employment ; Human capital ; Inflation ; Labor markets ; Minimum wage ; Population ; Private sector ; Public sector ; Social indicators ; South Africa ; Wages

South Africa: Macro Policy Mix and Its Effects on Growth and the Real Exchange Rate--Empirical Evidence and GIMF Simulations

African Departmental Paper No. 11/04
Subject(s): Economic growth ; Economic models ; Fiscal policy ; Monetary policy ; Real effective exchange rates ; Reserves accumulation ; South Africa

Measuring the Potential Output of South Africa

African Departmental Paper No. 11/02
Subject(s): Economic growth ; Economic models ; Exports ; Production growth ; Productivity ; South Africa

In the Wake of the Global Economic Crisis: Adjusting to Lower Revenue of the Southern African Customs Union in Botswana, Lesotho, Namibia, and Swaziland

African Departmental Paper No. 11/01
Subject(s): Botswana ; Lesotho ; Namibia ; Swaziland


Wage Policy and Fiscal Sustainability in Benin

Subject(s): ¬

Zimbabwe: Challenges and Policy Options after Hyperinflation

African Departmental Paper No. 10/03
Subject(s): Cross country analysis ; Dollarization ; Economic models ; Economic recovery ; Exchange rate regimes ; External sector ; Fiscal policy ; Global competitiveness ; Inflation ; Monetary policy ; Tax administration ; Tax policy ; Zimbabwe

Expenditure Composition and Economic Development in Benin

African Departmental Paper No. 10/02
Subject(s): Benin
Notes: Also available in French.

Wage Policy and Fiscal Sustainability in Benin

African Departmental Paper No. 10/01
Subject(s): Benin ; Civil service ; Debt sustainability ; Fiscal policy ; Fiscal reforms ; Fiscal sustainability ; Public sector ; Remuneration ; Wage policy ; Wages
Notes: Also available in French.


The Global Financial Crisis and Adjustment to Shocks in Kenya, Tanzania, and Uganda: A Balance Sheet Analysis Perspective

African Departmental Paper No. 09/04
Subject(s): Banking sector ; Financial crisis ; Kenya ; Tanzania ; Uganda

Impact of the Global Financial Crisis on Exchange Rates and Policies in Sub-Saharan Africa

African Departmental Paper No. 09/03
Subject(s): East Africa ; Exchange rate policy ; Exchange rate stability ; Sub-Saharan Africa ; Kenya ; Rwanda ; Tanzania ; Uganda ; Ghana ; Nigeria ; Zambia

Spillover Effects and the East African Community: Explaining the Slowdown and the Recovery

African Departmental Paper No. 09/02
Subject(s): East Africa ; Economic growth ; Economic conditions ; Kenya ; Rwanda ; Tanzania ; Uganda ; Spillovers

Foreign Exchange Reserve Adequacy in East African Community Countries

African Departmental Paper No. 09/01
Subject(s): Africa ; East Africa ; Kenya ; Reserve requirements ; Reserves adequacy ; SDRs ; Rwanda ; Tanzania ; Uganda