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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.


2016

Walking a Fine Line : Public Investment Scaling-Up and Debt Sustainability in Burkina Faso

African Departmental Paper No.16/3
Subject(s): Fiscal sustainability ; Economic growth ; Foreign aid ; Foreign aid policy


Trade Integration and Global Value Chains in Sub-Saharan Africa : In Pursuit of the Missing Link

African Departmental Paper 16/2
Subject(s): Exports ; International trade ; Production ; Sub-Saharan Africa ; Time series ; Trade integration ; Econometric models ; Goods ; Regional trade


Make Investment Scaling-Up Work in Benin : A Macro-Fiscal Analysis

African Departmental Paper No. 16/1
Subject(s): Tax revenue ; Expenditure efficiency ; Macro-fiscal analysis ; Public investment ; Fiscal policy ; Benin
Notes: Also available in French



2015

Strengthening the West African Economic and Monetary Union : The Role of Fiscal and Market Institutions in Economic Stabilization

Subject(s): Fiscal rules and institutions ; West African Economic and Monetary Union ; External shocks ; Regional shocks ; Economic stabilization ; Economic integration


Evolving Banking Trends in Sub-Saharan Africa : Key Features and Challenges

African Departmental Paper No. 15/8
Subject(s): Bank supervision ; Banking sector ; International banks ; Cross-border banking ; Sub-Saharan Africa ; Regional integration


Monitoring and Managing Fiscal Risks in the East African Community

African Departmental Paper No. 15/7
Subject(s): Fiscal risk ; Burundi ; Kenya ; Rwanda ; Tanzania ; Uganda ; East Africa ; Public enterprises ; Infrastructure ; Public-private partnership ; Expenditure controls ; Revenue administration ; Revenue forecasting ; Risk management


Toward a Monetary Union in the East African Community : Asymmetric Shocks, Exchange Rates, and Risk-Sharing Mechanisms

African Departmental Paper No. 15/6
Subject(s): Monetary unions ; Burundi ; Kenya ; Rwanda ; Tanzania ; Uganda ; East Africa ; Economic growth ; Agricultural sector ; Natural resources ; Exchange rate shocks ; Regional integration ; Cross country analysis


Building Resilience in Sub-Saharan Africa's Fragile States

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


Dollarization in Sub-Saharan Africa : Experiences and Lessons

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


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): Electric power ; Export performance ; Economic growth ; Economic conditions ; Senegal ; Social safety nets ; Policy Support Instrument ; Fiscal policy ; Foreign direct investment
Notes: Also available in French



2014

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): Agricultural sector ; Foreign direct investment ; Mozambique ; Natural gas ; Natural resources ; Economic policy ; Economic growth ; Employment ; Public investment ; Demographic transition ; Dutch disease ; Job creation
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



2013

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



2011

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



2010

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.



2009

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