## sreo0517f-pubs

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---

### LIVRES ET MONOGRAPHIES
- 2017 — Women, Work, and Economic Growth: Leveling the Playing Field — Kochhar, Kalpana, Monique Newiak, Sonali Jain-Chandra
- 2016 — Construire des économies intégrées en Afrique de l’Ouest : expériences de la gestion de la croissance, de l’ inclusion et de la volatilité — Alexei Kireyev
- 2016 — Africa on the Move: Unlocking the Potential of Small Middle-Income States — Lamin Leigh, Ali M Mansoor
- 2015 — The Quest for Regional Integration in the East African Community: Drummond, Paulo, S.K. Wajid, Oral Williams
- 2014 — The Mystery of Missing Real Spillovers in Southern Africa: Some Facts and Possible Explanations — Basdevant, Olivier, Andrew W. Jonelis, Borislava Mircheva, Slavi T. Slavov
- 2013 — Building a Common Future in Southern Africa — Mongardini, Joannes, Tamon Asonuma, Olivier Basdevant, Alfredo Cuevas, Xavier Debrun, Lars Holger Engstrom, Imelda M. Flores Vazquez, Vitaliy Kramarenko, Lamin Leigh, Paul R. Masson, Geneviève Verdier
- 2012 — Oil Wealth in Central Africa: Policies for Inclusive Growth — Coorey, Sharmini, Bernardin Akitoby
- 2009 — The Impact of the Global Financial Crisis on Sub-Saharan Africa — African Department
- 2009 — Tanzania: The Story of an African Transition — Nord, Roger, Yuri Sobolev, David Dunn, Alejandro Hajdenberg, Niko Hobdari, Samar Maziad, Stéphane Roudet

### DOCUMENTS DU DÉPARTEMENT AFRIQUE
- 16/6 — A Work in Progress: Integrating Markets for Goods, Labor, and Capital in the East African Community — Alper, Emre, Fan Yang, Hervé Joly, Jemma Dridi, Wenjie Chen
- 16/5 — Financial Development in Sub-Saharan Africa: Promoting Inclusive and Sustainable Growth — Montfort Mlachila, Larry Cui, Ahmat Jidoud, Monique Newiak, Bozena Radzewicz-Bak, Misa Takebe, Yanmin Ye, Jiayi Zhang
- 16/4 — Cyclical Behavior of Fiscal Policy among Sub-Saharan African Countries — Tetsuya Konuki, Mauricio Villafuerte
- 16/3 — Walking a Find Line: Public Investment Scaling-Up and Debt Sustainability in Burkina Faso — Lonkeng Ngouana, Constant A., Malangu Kabedi-Mbuyi, Mame Astou Diouf
- 16/2 — Trade Integration and Global Value Chains in Sub-Saharan Africa : In Pursuit of the Missing Link — Céline Allard, Jorge Iván Canales Kriljenko, Jesus Gonzalez-Garcia, Emmanouil Kitsios, Juan P. Trevino, Wenjie Chen
- 16/1 — Make Investment Scaling-up Work in Benin: A Macro-Fiscal Analysis — Barhoumi, Karim, Larry Cui, Christine Dieterich, Nicolas End, Matteo Ghilardi, Alexander Raabe, Sergio Sola
- 15/10 — Strengthening the West African Economic and Monetary Union: The Role of Fiscal and Market Institutions in Economic Stabilization — Basdevant, Olivier, Patrick A. Imam, Tidiane Kinda, Aleksandra Zdzienicka
- 15/8 — Evolving Banking Trends in Sub-Saharan Africa : Key Features and Challenges — Mecagni, Mauro, Daniela Marchettini, Rodolfo Maino
- 15/7 — Monitoring and Managing Fiscal Risks in the East African Community — Mauro, Paolo, Herve Joly, Ari Aisen, Emre Alper, François Boutin-Dufresne, Jemma Dridi, Nikoloz Gigineishvili, Tom Josephs, Clara Mira, Vimal V Thakoor, Alun H. Thomas, Fan Yang
- 15/6 — Toward a Monetary Union in the East African Community: Asymmetric Shocks, Exchange Rates, and Risk-Sharing Mechanisms — Drummond, Paulo, Ari Aisen, C. Emre Alper, Ejona Fuli, Sebastien Walker
- 15/5 — Building Resilience in Sub-Saharan Africa’s Fragile States — Gelbard, Enrique, Corinne Delechat, Ejona Fuly, Mumtaz Hussain, Ulrich Jacoby, Dafina Mulaj, Marco Pani, Gustavo Ramirez, Rui Xu
- 15/4 — Dollarization in Sub-Saharan Africa: Experiences and Lessons — Mecagni, Mauro, Juan S Corrales, Jemma Dridi, Rodrigo Garcia-Verdu, Patrick A. Imam, Justin Matz, Carla Macario, Rodolfo Maino, Yibin Mu, Ashwin Moheeput, Futoshi Narita, Marco Pani, Manuel Rosales, Sebastian Weber, Etienne B. Yehoue
- 15/3 — Pan-African Banking: Opportunities and Challenges for Cross-Border Oversight — Enoch, Charles , Paul Henri Mathieu, Mauro Mecagni, Jorge Iván Canales Kriljenko
- 15/2 — Sustaining More Inclusive Growth in the Republic of Congo — Hakura, Dalia, Adrian Alter, Matteo Ghilardi, Rodolfo Maino, Cameron McLoughlin, Maximilien Queyranne
- 15/1 — Making Senegal a Hub for West Africa : Reforming the State, Building to the Future — Kireyev, Alexei, Ali M. Mansoor
- 14/4 — Mozambique Rising: Building a New Tomorrow — Ross, Doris C., Victor Duarte Lledo, Alex Segura-Ubiergo, Yuan Xiao, Iyabo Masha, Alun H. Thomas, Keiichiro Inui
- 14/3 — The Mystery of Missing Real Spillovers in Southern Africa: Some Facts and Possible Explanations — Basdevant, Olivier, Andrew W Jonelis, Borislava Mircheva, Slavi T. Slavov
- 14/2 — Issuing International Sovereign Bonds: Opportunities and Challenges for Sub-Saharan Africa — Mecagni, Mauro, Jorge Iván Canales Kriljenko, Cheikh A. Gueye, Yibin Mu, Masafumi Yabara, Sebastian Weber
- 14/1 — Managing Volatile Capital Flows: Experiences and Lessons for Sub-Saharan African Frontier Markets — Gueye, Cheikh A., Javier Arze del Granado, Rodrigo Garcia-Verdu, Mumtaz Hussain, B. Jang, Sebastian Weber, Juan S Corrales
- 13/8 — Mali: Achieving Strong and Inclusive Growth with Macroeconomic Stability — Josz, Christian
- 13/7 — Responding to Shocks and Maintaining Stability in the West African Economic and Monetary Union — Kolerus, Christina, Aleksandra Zdzienicka, Ermal Hitaj, Douglas J. Shapiro
- 13/6 — West African Economic and Monetary Union: Financial Depth and Macrostability — Imam, Patrick A., Christina Kolerus
- 13/5 — Senegal: Financial Depth and Macrostability — Imam, Patrick A., Christina Kolerus
- 13/4 — Senegal: Achieving High and Inclusive Growth While Preserving Fiscal Sustainability — Kireyev, Alexei, Gaston K. Mpatswe
- 13/3 — Banking in Sub-Saharan Africa: The Macroeconomic Context — Mlachila, Montfort, Seok Gil Park, Masafumi Yabara
- 13/2 — Energy Subsidy Reform in Sub-Saharan Africa: Experiences and Lessons — Alleyne, Trevor, Mumtaz Hussain
- 13/2 — Boom, Bust, or Prosperity? Managing Sub-Saharan Africa’s Natural Resource Wealth — Lundgren, Charlotte J., Alun H. Thomas, Robert C. York
- 13/1 — Restoring Sustainability in a Changing Global Environment: Options for Swaziland — Basdevant, Olivier, Emily Forrest, Borislava Mircheva
- 11/07 — Macroeconomic Vulnerabilities Stemming from the Global Economic Crisis: The Case of Swaziland — Basdevant, Olivier, Chikako Baba, Borislava Mircheva
- 11/06 — What Do Fast Job Creators Look Like? Some Stylized Facts and Perspectives on South Africa — Zhan, Zaijin
- 11/04 — South Africa: Macro Policy Mix and Its Effects on Growth and the Real Exchange Rate—Empirical Evidence and GIMF Simulations — Canales-Kriljenko, Jorge Iván
- 11/02 — Measuring the Potential Output of South Africa — Klein, Nir
- 11/01 — In the Wake of the Global Economic Crisis: Adjusting to Lower Revenue of the Southern African Customs Union in Botswana, Lesotho, Namibia, and Swaziland — Mongardini, Joannes, Dalmacio Benicio, Thomson Fontaine, Gonzalo C. Pastor, Geneviève Verdier
- 10/03 — Zimbabwe: Challenges and Policy Options after Hyperinflation — Kramarenko, Vitaliy, Lars H. Engstrom, Geneviève Verdier, Gilda Fernandez, Stefan E. Oppers, Richard Hughes, James McHugh, Warren L. Coats
- 10/02 — Expenditure Composition and Economic Developments in Benin — Pani, Marco, Mohamed El Harrak
- 10/01 — Wage Policy and Fiscal Sustainability in Benin — Lundgren, Charlotte J.
- 09/04 — The Global Financial Crisis and Adjustments to Shocks in Kenya, Tanzania, and Uganda: A Balance Sheet Analysis Perspective — Masha, Iyabo
- 09/03 — Impact of the Global Financial Crisis on Exchange Rates and Policies in Sub-Saharan Africa — Ben Ltaifa, Nabil, Stella Kaendera, Shiv Dixit
- 09/02 — Spillover Effects and the East African Community: Explaining the Slowdown and the Recovery — Drummond, Paulo, Gustavo Ramirez
- 09/01 — Foreign Exchange Reserve Adequacy in East African Community Countries — Drummond, Paulo, Aristide Mrema, Stéphane Roudet, Mika Saito

### DOCUMENT DE POLITIQUE GÉNÉRALE
- 12/14 — Pan-African Banks - Opportunities and Challenges for Cross-Border Oversight — Préparé par une équipe des services du FMI dirigée par Charles Enoch, Paul Mathieu, Mauro Mecagni.

### NOTES SUR LES EFFETS DE CONTAGION
- 2016/Issue 9 — Sub-Saharan Migration: Patterns and Spillovers — Gonzalez-Garcia, Jesus, Ermal Hitaj, Montfort Mlachila, Arina Viseth, Mustafa Yenice

### NOTES DE RÉFLEXION DES SERVICES DU FMI
- 15/11 — Is the Glass Half Empty or Half Full? Issues in Managing Water Challenges and Policy Instruments — Kalpana Kochhar, Catherine Pattillo, Yan Sun, Nujin Suphaphiphat, Andrew Swiston, Robert Tchaidze, Benedict Clements, Stefania Fabrizio, Valentina Flamini, Laure Redifer, Harald Finger et une équipe des services du FMI
- 12/13 — Economic Diversification in LICs: Stylized Facts and Macroeconomic Implications — Papageorgiou, Chris, Nicola Spatafora
- 09/20 — The International Financial Crisis and Global Recession: Impact on the CEMAC Region and Policy Considerations — Wakeman-Linn, John, Rafael A. Portillo, Plamen Iossifov, Dimitre Milkov
- 09/16 — The Global Financial Crisis: Impact on WAEMU Member Countries and Policy Options — Mueller, Johannes, Irene Yackovlev, Hans Weisfeld
- 09/14 — The Southern African Development Community’s Macroeconomic Convergence Program: Initial Performance — Burgess, Robert
- 09/10 — Fiscal Policy in Sub-Saharan Africa in Response to the Impact of the Global Crisis — Berg, Andrew, Norbert Funke, Alejandro Hajdenberg, Victor Duarte Lledo, Rolando Ossowski, Martin Schindler, Antonio Spilimbergo, Shamsuddin Tareq, Irene Yackovlev

### DOCUMENTS DE TRAVAIL
- 17/48 — Understanding Inflation in Malawi: A Quantitative Investigation — Dong Frank Wu
- 16/247 — Food Inflation in Sub-Saharan Africa: Causes and Policy Implications — Ali Uppal, Emre Alper, Niko Hobdari
- 16/205 — Surprise, Surprise: What Dirves the Rand/U.S. Dollar Exchange Rate Volatility? — Axel Schimmelpfennig, Nasha Maveé, Roberto Perrelli
- 16/140 — Gender Equality and Economic Diversification — Kazandjian, Romina, Lisa Kolovich, Kalpana Kochhar, Monique Newiak
- 16/137 — South Africa: Labor Market Dynamics and Inequality — Anand, Rahul, Siddharth Kothari, Naresh Kumar
- 16/120 — Monetary Policy Implementation and Volatility Transmission along the Yield Curve: The Case of Kenya — Alper, Emre, R. Armando Morales, Fan Yang
- 16/118 — Women’s Opportunities and Challenges in Sub-Saharan African Job Markets — Dieterich, Christine, Anni Huang, Alun H. Thomas
- 16/115 — Investing in Electricity, growth, and Debt Sustainability: The Case of Lesotho — Andreolli, Michele, Aidar Abdychev
- 16/113 — The Consequences of Policy Uncertainty: Disconnects and Dilutions in the South African Real Effective Exchange Rate-Export Relationship — Hlatshwayo, Sandile, Magnus Saxegaard
- 16/111 — Inequality, Gender Gaps and Economic Growth: Comparative Evidence for Sub-Saharan Africa — Hakura, Dalia, Mumtaz Hussain, Monique Newiak, Vimal Thakoor, Fan Yang
- 16/24 — South Africa’s Exports Performance: Any Role for Structural Factors? — Anand, Rahul, Roberto Perrelli, Boyang Zhang
- 16/17 — Unintended Consequences: Spillovers from Nigeria’s Fuel Pricing Policies to Its Neighbor — Mlachila, Montfort, Edgardo Ruggiero, David Corvino
- 16/12 — Commodity Price Shocks and Financial Sector Fragility — Kinda, Tidiane, Montfort Mlachila, Rasmané Ouedraogo
- 15/268 — Exiting From Fragility in sub-Saharan Africa : The Role of Fiscal Policies and Fiscal Institutions — Delechat, Corinne, Ejona Fuli, Dafina Mulaj, Gustavo Ramirez, Rui Xu
- 15/236 — Public Investment in a Developing Country Facing Resource Depletion — Alter, Adrian, Matteo Ghilardi, Dalia Hakura
- 15/235 — Financial Inclusion and Development in the CEMAC — Alter, Adrian, Boriana Yontcheva
- 15/221 — Spillovers from China onto Sub-Saharan Africa: Insights from the Flexible System of Global Models (FSGM) — Anderson, Derek, Jorge Iván Canales Kriljenko, Paulo Drummond, Pedro Espaillat, Dirk Muir
- 15/190 — Systemic Risk Assessment in Lo Income Countries : Balancing Financial Stability and Development — Marchettini, Daniela, Rodolfo Maino
- 15/189 — On the Drivers of Inflation in Sub-Saharan Africa — Nguyen, Anh D. M., Jemma Dridi, D. Filiz Unsal, Oral Williams
- 15/185 — Sub-Saharan Employment Developments : The Important Role of Household Enterprises with an Application to Rwanda — Alun H. Thomas
- 15/169 — Household Financial Acces and Risk Sharing in Nigeria — Carlson, Stacey, Era Dabla-Norris, Mika Saito, Yu Shi
- 15/149 — Network Effects of International Shocks and Spillovers — Kireyev, Alexei and Andrei Leonidov
- 15/126 — Pension Reforms in Mauritius: Fair and Fast—Balancing Social Protection and Fiscal Sustainability — Soto, Mauricio, Vimal Thakoor, Martin Petri
- 15/99 — How to Improve the Effectiveness of Monetary Policy in the West African Economic and Monetary Union — Kireyev, Alexei
- 15/83 — Do Resource Windfalls Improve the Standard of Living in Sub-Saharan African Countries?: Evidence from a Panel of Countries — Munseob Lee, Cheikh A. Gueye
- 15/49 — Remittances and Macroeconomic Volatility in African Countries — Ahmat Jidoud
- 15/25 — Harnessing Resource Wealth for Inclusive Growth in Fragile States — Delechat, Corinne, Will Clark, Pranav Gupta, Malangu Kabedi-Mbuyi, Mesmin Koulet-Vickot, Carla Macario, Toomas Orav, Manuel Rosales, Renee Tapsoba, Dmitry Zhdankin, Susan Yang
- 15/17 — Fiscal Policy Implications for Labor Market Outcomes in Middle-Income Countries — Stepanyan, Ara, Lamin Leigh
- 15/12 — Revisiting teh Concept of Dollarization: The Global Financial Crisis and Dollarization in Low-Income Countries — Mwase, Nkunde, Francis Y. Kumah
- 14/241 — Global Financial Transmission into Sub-Saharan Africa– A Global Vector Autoregression Analysis — Canales Kriljenko, Jorge Iván, Mehdi Hosseinkouchack, Alexis Meyer-Cirkel
- 14/231 — Safe Debt and Uncertainty in Emerging Markets: An Application to South Africa — Saxegaard, Magnus
- 14/172 — A Quality of Growth Index for Developing Countries: A Proposal — Mlachila, Montfort, Rene Tapsoba, Sampawende J.-A. Tapsoba
- 14/159 — Introducing a Semi-Structural Macroeconomic Model for Rwanda — Charry, Luisa, Pranav Gupta, Vimal Thakoor
- 14/150 — How Solid is Economic Growth in the East African Community? — Gigineishvili, Nikoloz, Paolo Mauro, Ke Wang
- 14/149 — Islamic Finance in Sub-Saharan Africa: Status and Prospects — Gelbard, Enrique, Mumtaz Hussain, Rodolfo Maino, Yibin Mu, Etienne B. Yehoue
- 14/143 — Africa Rising: Harnessing the Demographic Dividend — Drummond, Paulo, Vimal Thakoor, Shu Yu
- 14/94 — Does Openness Matter for Financial Development in Africa? — David, Antonio, Montfort Mlachila, Ashwin Moheeput
- 14/51 — Surging Investment and Declining Aid: Evaluating Debt Sustainability in Rwanda — Clark, Will, Birgir Arnason
- 13/261 — Natural Gas, Public Investment and Debt Sustainability in Mozambique — Melina, Giovanni, Yi Xiong
- 13/250 — Africa’s Rising Exposure to China: How Large Are Spillovers Through Trade? — Drummond, Paulo, Estelle X. Liu
- 13/239 — Money Targeting in a Modern Forecasting and Policy Analysis System: an Application to Kenya — Andrle, Michal, Andrew Berg, Enrico Berkes, Rafael A Portillo, Jan Vlcek, R. Armando Morales
- 13/237 — The Investment-Financing-Growth Nexus: The Case of Liberia — Clark, Will, Manuel Rosales
- 13/226 — Making Monetary Policy More Effective: The Case of the Democratic Republic of the Congo — Fischer, Felix, Charlotte J. Lundgren, Samir Jahjah
- 13/216 — Fiscal Discipline in WAEMU: Rules, Institutions, and Markets — Hitaj, Ermal, Yasin Kursat Onder
- 13/215 — Inclusive Growth and Inequality in Senegal — Kireyev, Alexei
- 13/201 — Africa’s Got Work to Do: Employment Prospects in the New Century — Fox, Louise, Cleary Haines, Jorge Huerta Muñoz, Alun Thomas
- 13/188 — Resource Dependence and Fiscal Effort in Sub-Saharan Africa — Thomas, Alun, Juan P. Treviño
- 13/176 — Benchmarking Structural Transformation Across the World — Dabla-Norris, Era, Alun H. Thomas, Rodrigo Garcia-Verdu, Yingyuan Chen
- 13/173 — Tax Administration Reform in the Francophone Countries of Sub-Saharan Africa — Fossat, Patrick, Michel Bua
- 13/161 — Financial Depth in the WAEMU: Benchmarking Against Frontier SSA Countries — Ahokpossi, Calixte, Kareem Ismail, Sudipto Karmakar, Mesmin Koulet-Vickot
- 13/147 — Investing Volatile Oil Revenues in Capital-Scarce Economies: An Application to Angola — Richmond, Christine, Irene Yackovlev, Shu-Chun Yang
- 13/144 — Fiscal Sustainability, Public Investment, and Growth in Natural Resource-Rich, Low-Income Countries: The Case of Cameroon — Samaké, Issouf, Priscilla Muthoora, Bruno Versailles
- 13/139 — Inclusive Growth: An Application of the Social Opportunity Function to Selected African Countries — Adedeji, Olumuyiwa, Huancheng Du, Maxwell Opoku-Afari
- 13/116 — Inclusive Growth and the Incidence of Fiscal Policy in Mauritius — Much Progress, But More Could be Done — David, Antonio, Martin Petri
- 13/53 — The Quality of the Recent High-Growth Episode in Sub-Saharan Africa — Mlachila, Montfort, Marcelo Martinez
- 13/51 — Benchmarking Banking Sector Efficiency Across Regional Blocks in Sub-Saharan Africa: What Room for Policy? — Boutin-Dufresne, Francois, Santiago Peña, Oral Williams, Tomasz A. Zawisza
- 13/39 — Monetary Transmission Mechanism in the East African Community: An Empirical Investigation — Davoodi, Hamid, Shiv Dixit, Gabor Pinter
- 13/34 — Determinants of Bank Interest Margins in Sub-Saharan Africa — Ahokpossi, Calixte
- 13/32 — Exchange Rate Liberalization in Selected Sub-Saharan African Countries: Successes, Failures, and Lessons — Mæhle, Nils, Haimanot Teferra, Armine Khachatryan
- 13/31 — Inward and Outward Spillovers in the SACU Area — Canales-Kriljenko, Jorge Iván, Farayi Gwenhamo, Saji Thomas
- 13/12 — Bond Markets in Africa — Mu, Yibin, Peter Phelps, Janet Stotsky
- 12/290 — Inequalities and Growth in the Southern African Customs Union (SACU) Region — Basdevant, Olivier, Dalmacio Benicio, Yorbol Yakhshilikov
- 12/280 — Striking an Appropriate Balance Among Public Investment, Growth, and Debt Sustainability in Cape Verde — Mu, Yibin
- 12/272 — The East African Community: Prospects for Sustained Growth — McAuliffe, Catherine, Sweta Saxena, Masafumi Yabara
- 12/249 — Financing Growth in the WAEMU through the Regional Securities Market: Past Successes and Current Challenges — Diouf, Mame Astou, Francois Boutin-Dufresne
- 12/208 — Exchange Rate and Foreign Interest Rate Linkages for Sub-Saharan Africa Floaters — Thomas, Alun
- 12/196 — A Financial Conditions Index for South Africa — Gumata, Nombulelo, Nir Klein, Eliphas Ndou
- 12/177 — Estimating the Implicit Inflation Target of the South African Reserve Bank — Klein, Nir
- 12/160 — Monetiation in Low- and Middle-Income Countries — McLoughlin, Cameron, Noriaki Kinoshita
- 12/148 — The Relationship between the Foreign Exchange Regime and Macroeconomic Performance in Eastern Africa — Stotsky, Janet Gale, Olumuyiwa Adedeji, Manuk Ghazanchyan, Nils O. Maehle
- 12/141 — Exchange Rate Pass-Through in Sub-Saharan African Economies and its Determinants — Razafimahefa, Ivohasina Fizara
- 12/136 — Welfare Effects of Monetary Integration: The Common Monetary Area and Beyond — Asonuma, Tamon, Xavier Debrun, Paul R. Masson
- 12/127 — As You Sow So Shall You Reap: Public Investment Surges, Growth, and Debt Sustainability in Togo — Andrle, Michal, Antonio David, Raphael A. Espinoza, Marshall Mills, Luis-Felipe Zanna
- 12/119 — Tracking Short-Term Dynamics of Economic Activity in Low-Income Countries in the Absence of High-Frequency GDP Data — Opoku-Afari, Maxwell, Shiv Dixit
- 12/108 — Mobilizing Revenue in Sub-Saharan Africa: Empirical Norms and Key Determinants — Drummond, Paulo, Wendell Daal, Nandini Srivastava, Luiz E.

### Monetary Policy and Inflation
- Monetary Policy in Low-Income Countries in the Face of the Global Crisis: The Case of Zambia — Baldini, Alfredo, Jaromir Benes, Andrew Berg, Mai Dao, and Rafael Portillo — 12/93
- Monetary Policy Transmission in Ghana: Does the Interest Rate Channel Work? — Kovanen, Arto — 11/275
- Does Money Matter for Inflation in Ghana? — Kovanen, Arto — 11/274
- On the Stability of Monetary Demand in Ghana: A Bounds Testing Approach — Dagher, Jihad, Arto Kovanen — 11/273
- Inflation Differentials in the GCC: Does the Oil Cycle Matter? — Cripolti, Valerio, George Tsibouris — 11/294
- Inflation Dynamics in the CEMAC Region — Caceres, Carlos, Marcos Poplawski-Ribeiro, Darlena Tartari — 11/232
- Modeling Inflation in Chad — Kinda, Tidiane — 11/57
- Inflation Uncertainty and Relative Price Variability in WAEMU — Fernandez Valdovinos, Carlos, Kerstin Gerling — 11/59
- Understanding Inflation Inertia in Angola — Klein, Nir, Alexander Kyei — 09/98

### Fiscal Policy, Revenue, and Public Finance
- Fiscal Policies and Rules in the Face of Revenue Volatility Within Southern Africa Customs Union Countries (SACU) — Basdevant, Olivier — 12/92
- The Design of Fiscal Adjustment Strategies in Botswana, Lesotho, Namibia, and Swaziland — Basdevant, Olivier, Dalmacio Benicio, Borislava Mircheva, Joannes Mongardini, Geneviève Verdier, Susan Yang, Luis-Felipe Zanna — 11/266
- The Cyclicality of Fiscal Policies in the CEMAC Region — Mpatswe, Gaston K., Sampawende J. Tapsoba, Robert C. York — 11/205
- Fiscal Policy Implementation in Sub-Saharan Africa — Lledo, Victor Duarte, Marcos Poplawski Ribeiro — 11/172
- Fiscal Sustainability and the Fiscal Reaction Function for South Africa — Burger, Philippe, Alfredo Cuevas, Ian Stuart, Charl Jooste — 11/69
- Fiscal Expectations under the Stability and Growth Pact: Evidence from Survey Data — Poplawski-Ribeiro, Marcos, Jan-Christoph Rulke — 11/48
- A Rule Based Medium-Term Fiscal Policy Framework for Tanzania — Kim, Daehaeng, Mika Saito — 09/244
- Budget Institutions and Fiscal Performance in Low-Income Countries — Dabla-Norris, Era, Richard Allen, Luis-Felipe Zanna, Tej Prakash, Eteri Kvintradze, Victor Duarte Lledo, Irene Yackovlev, Sophia Gollwitzer — 10/80
- Cyclical Patterns of Government Expenditures in Sub-Saharan Africa: Facts and Factors — Lledo, Victor, Irene Yackovlev, Lucie Gadenne — 09/274

### Exchange Rates, Real Exchange Rates, and External Sector
- Exchange Rate Volatility Under Peg: Do Trade Patterns Matter? — Klein, Nir — 12/73
- International Reserves in Low-Income Countries: Have They Served as Buffers? — Yabara, Masafumi — 12/7
- Oil-Price Boom and Real Exchange Rate Appreciation: Is There Dutch Disease in the CEMAC? — Treviño, Juan Pedro — 11/268
- External Sustainability of Oil-Producing Sub-Saharan African Countries — Takebe, Misa, Robert C. York — 11/207
- De Jure versus De Facto Exchange Rate Regimes in Sub-Saharan Africa — Slavov, Slavi T. — 11/198
- Reviving the Competitive Storage Model: A Holistic Approach to Food Commodity Prices — Miao, Yanliang, Weifeng Wu, Norbert Funke — 11/64
- The Real Exchange Rate and Growth Revisited: The Washington Consensus Strikes Back? — Berg, Andrew, Yanliang Miao — 10/58
- The Value of Institutions for Financial Markets: Evidence from Emerging Markets — Akitoby, Bernardin, Thomas Stratmann — 09/27

### Financial Sector, Banking, and Capital Markets
- Assessing Bank Competition within the East African Community — Lonkeng Ngouana, Constant — 12/32
- Prudential Liquidity Regulation in Developing Countries: A Case Study of Rwanda — Sanya, Sarah, Matthew Gaertner — 12/20
- Capital Market Integration: Progress Ahead of the East African Community Monetary Union — Sanya, Sarah, Wayne Mitchell, Angelique Kantengwa — 12/18
- Determinants of Interest Rate Pass-Through: Do Macroeconomic Conditions and Financial Market Structure Matter? — Kpodar, Kangni, Maelan Le Goff — 11/176
- Financial Deepening, Property Rights and Poverty: Evidence from Sub-Saharan Africa — Singh, Raju Jan, Yifei Huang — 11/196
- Banking Efficiency and Financial Development in Sub-Saharan Africa — Kablan, Sandrine — 10/136
- The Determinants of Commercial Bank Profitability in Sub-Saharan Africa — Flamini, Valentina, Calvin A. McDonald, Liliane Schumacher — 09/15
- Bank Efficiency in Sub-Saharan African Middle-Income Countries — Chen, Chuling — 09/14
- Sub-Saharan Africa’s Integration in the Global Financial Markets — Delechat, Corinne, Gustavo Ramirez, Smita Wagh, John Wakeman-Linn — 09/115
- Financial Deepening in the CFA Franc Zone: The Role of Institutions — Singh, Raju, Kangni Kpodar, Dhaneshwar Ghura — 09/113

### Growth, Development, and Structural Issues
- Real Wage, Labor Productivity, and Employment Trends in South Africa: A Closer Look — Basdevant, Olivier — 12/92
- How Costly Are Debt Crises? — Baba, Chikako, Annamaria Kokenyne — 11/280
- The Quest for Higher Growth in the WAEMU Region: The Role of Accelerations and Decelerations — Kinda, Tidiane, Montfort Mlachila — 11/174
- Reviving the Competitive Storage Model: A Holistic Approach to Food Commodity Prices — Miao, Yanliang, Weifeng Wu, Norbert Funke — 11/64
- Growth in Africa under Peace and Market Reforms — Korbut, Olessia, Gonzalo Salinas, Cheikh A. Gueye — 11/40
- Understanding the Growth of African Markets — Yartey, Charles Amo, Mihasonirina Andrianaivo — 09/182
- How Can Burundi Raise its Growth Rate? The Impact of Civil Conflicts and State Intervention on Burundi’s Growth Performance — Basdevant, Olivier — 09/11

### Trade, Remittances, and External Flows
- Do Remittances Reduce Aid Dependency? — Kpodar, Kangni, Maelan Le Goff — 11/246
- FDI from BRICs to LICs: Emerging Growth Driver? — Mlachila, Montfort, Misa Takebe — 11/178
- What Can International Cricket Teach Us About the Role of Luck in Labor Markets? — Aiyar, Shekhar, Rodney Ramcharan — 10/225
- Capital Flows, Exchange Rate Flexibility, and the Real Exchange Rate — Kinda, Tidiane, Jean-Louis Combes, Patrick Plane — 11/9
- FDI Flows to Low-Income Countries: Global Drivers and Growth Implications — Dabla-Norris, Era, Jiro Honda, Amina Lahrèche-Révil, Geneviève Verdier — 10/132
- How Do International Financial Flows to Developing Countries Respond to Natural Disasters? — David, Antonio — 10/166
- Dedollarization in Liberia—Lessons from Cross-Country Experience — Erasmus, Lodewyk, Jules Leichter, Jeta Menkulasi — 09/37

### Sectoral and Country-Specific Studies
- South Africa: The Cyclical Behavior of the Markups and Its Implications for Monetary Policy — Klein, Nir — 11/204
- Burkina Faso—Policies to Protect the Poor from the Impact of Food and Energy Price Increases — Arze del Granado, Javier, Isabell Adenauer — 11/202
- Ghana: Will It Be Gifted, or Will It Be Cursed? — Aydin, Burcu — 11/104
- Ghana: Demand for Broad Money and Implications for Monetary Policy Conduct — Sriram, Subramanian S. — 09/192
- São Tomé and Príncipe: Domestic Tax System and Tax Revenue Potential — Farhan, Nisreen — 09/215
- Madagascar: A Competitiveness and Exchange Rate Assessment — Eyraud, Luc — 09/107
- The Macroeconomics of Scaling Up Aid: The Gleneagles Initiative for Benin — Mongardini, Joannes, Issouf Samaké — 09/115
- The Macroeconomic Impact of Scaled-Up Aid: The Case of Niger — Farah, Abdikarim, Emilio Sacerdoti, Gonzalo Salinas — 09/36

*Source: sreo0517f-pubs - Section 1 (IMF PDF listing publications of the Africa Department, 2009–17).*

### Section 1

### sreo0517f-pubs - Section 1

### LIVRES ET MONOGRAPHIES
- 2017 — Women, Work, and Economic Growth: Leveling the Playing Field — Kochhar, Kalpana, Monique Newiak, Sonali Jain-Chandra
- 2016 — Construire des économies intégrées en Afrique de l’Ouest : expériences de la gestion de la croissance, de l’ inclusion et de la volatilité — Alexei Kireyev
- 2016 — Africa on the Move: Unlocking the Potential of Small Middle-Income States — Lamin Leigh, Ali M Mansoor
- 2015 — The Quest for Regional Integration in the East African Community: Drummond, Paulo, S.K. Wajid, Oral Williams
- 2014 — The Mystery of Missing Real Spillovers in Southern Africa: Some Facts and Possible Explanations — Basdevant, Olivier, Andrew W. Jonelis, Borislava Mircheva, Slavi T. Slavov
- 2013 — Building a Common Future in Southern Africa — Mongardini, Joannes, Tamon Asonuma, Olivier Basdevant, Alfredo Cuevas, Xavier Debrun, Lars Holger Engstrom, Imelda M. Flores Vazquez, Vitaliy Kramarenko, Lamin Leigh, Paul R. Masson, Geneviève Verdier
- 2012 — Oil Wealth in Central Africa: Policies for Inclusive Growth — Coorey, Sharmini, Bernardin Akitoby
- 2009 — The Impact of the Global Financial Crisis on Sub-Saharan Africa — African Department
- 2009 — Tanzania: The Story of an African Transition — Nord, Roger, Yuri Sobolev, David Dunn, Alejandro Hajdenberg, Niko Hobdari, Samar Maziad, Stéphane Roudet

### DOCUMENTS DU DÉPARTEMENT AFRIQUE
- 16/6 — A Work in Progress: Integrating Markets for Goods, Labor, and Capital in the East African Community — Alper, Emre, Fan Yang, Hervé Joly, Jemma Dridi, Wenjie Chen
- 16/5 — Financial Development in Sub-Saharan Africa: Promoting Inclusive and Sustainable Growth — Montfort Mlachila, Larry Cui, Ahmat Jidoud, Monique Newiak, Bozena Radzewicz-Bak, Misa Takebe, Yanmin Ye, Jiayi Zhang
- 16/4 — Cyclical Behavior of Fiscal Policy among Sub-Saharan African Countries — Tetsuya Konuki, Mauricio Villafuerte
- 16/3 — Walking a Find Line: Public Investment Scaling-Up and Debt Sustainability in Burkina Faso — Lonkeng Ngouana, Constant A., Malangu Kabedi-Mbuyi, Mame Astou Diouf
- 16/2 — Trade Integration and Global Value Chains in Sub-Saharan Africa : In Pursuit of the Missing Link — Céline Allard, Jorge Iván Canales Kriljenko, Jesus Gonzalez-Garcia, Emmanouil Kitsios, Juan P. Trevino, Wenjie Chen
- 16/1 — Make Investment Scaling-up Work in Benin: A Macro-Fiscal Analysis — Barhoumi, Karim, Larry Cui, Christine Dieterich, Nicolas End, Matteo Ghilardi, Alexander Raabe, Sergio Sola
- 15/10 — Strengthening the West African Economic and Monetary Union: The Role of Fiscal and Market Institutions in Economic Stabilization — Basdevant, Olivier, Patrick A. Imam, Tidiane Kinda, Aleksandra Zdzienicka
- 15/8 — Evolving Banking Trends in Sub-Saharan Africa : Key Features and Challenges — Mecagni, Mauro, Daniela Marchettini, Rodolfo Maino
- 15/7 — Monitoring and Managing Fiscal Risks in the East African Community — Mauro, Paolo, Herve Joly, Ari Aisen, Emre Alper, François Boutin-Dufresne, Jemma Dridi, Nikoloz Gigineishvili, Tom Josephs, Clara Mira, Vimal V Thakoor, Alun H. Thomas, Fan Yang
- 15/6 — Toward a Monetary Union in the East African Community: Asymmetric Shocks, Exchange Rates, and Risk-Sharing Mechanisms — Drummond, Paulo, Ari Aisen, C. Emre Alper, Ejona Fuli, Sebastien Walker
- 15/5 — Building Resilience in Sub-Saharan Africa’s Fragile States — Gelbard, Enrique, Corinne Delechat, Ejona Fuly, Mumtaz Hussain, Ulrich Jacoby, Dafina Mulaj, Marco Pani, Gustavo Ramirez, Rui Xu
- 15/4 — Dollarization in Sub-Saharan Africa: Experiences and Lessons — Mecagni, Mauro, Juan S Corrales, Jemma Dridi, Rodrigo Garcia-Verdu, Patrick A. Imam, Justin Matz, Carla Macario, Rodolfo Maino, Yibin Mu, Ashwin Moheeput, Futoshi Narita, Marco Pani, Manuel Rosales, Sebastian Weber, Etienne B. Yehoue
- 15/3 — Pan-African Banking: Opportunities and Challenges for Cross-Border Oversight — Enoch, Charles , Paul Henri Mathieu, Mauro Mecagni, Jorge Iván Canales Kriljenko
- 15/2 — Sustaining More Inclusive Growth in the Republic of Congo — Hakura, Dalia, Adrian Alter, Matteo Ghilardi, Rodolfo Maino, Cameron McLoughlin, Maximilien Queyranne
- 15/1 — Making Senegal a Hub for West Africa : Reforming the State, Building to the Future — Kireyev, Alexei, Ali M. Mansoor
- 14/4 — Mozambique Rising: Building a New Tomorrow — Ross, Doris C., Victor Duarte Lledo, Alex Segura-Ubiergo, Yuan Xiao, Iyabo Masha, Alun H. Thomas, Keiichiro Inui
- 14/3 — The Mystery of Missing Real Spillovers in Southern Africa: Some Facts and Possible Explanations — Basdevant, Olivier, Andrew W Jonelis, Borislava Mircheva, Slavi T. Slavov
- 14/2 — Issuing International Sovereign Bonds: Opportunities and Challenges for Sub-Saharan Africa — Mecagni, Mauro, Jorge Iván Canales Kriljenko, Cheikh A. Gueye, Yibin Mu, Masafumi Yabara, Sebastian Weber
- 14/1 — Managing Volatile Capital Flows: Experiences and Lessons for Sub-Saharan African Frontier Markets — Gueye, Cheikh A., Javier Arze del Granado, Rodrigo Garcia-Verdu, Mumtaz Hussain, B. Jang, Sebastian Weber, Juan S Corrales
- 13/8 — Mali: Achieving Strong and Inclusive Growth with Macroeconomic Stability — Josz, Christian
- 13/7 — Responding to Shocks and Maintaining Stability in the West African Economic and Monetary Union — Kolerus, Christina, Aleksandra Zdzienicka, Ermal Hitaj, Douglas J. Shapiro
- 13/6 — West African Economic and Monetary Union: Financial Depth and Macrostability — Imam, Patrick A., Christina Kolerus
- 13/5 — Senegal: Financial Depth and Macrostability — Imam, Patrick A., Christina Kolerus
- 13/4 — Senegal: Achieving High and Inclusive Growth While Preserving Fiscal Sustainability — Kireyev, Alexei, Gaston K. Mpatswe
- 13/3 — Banking in Sub-Saharan Africa: The Macroeconomic Context — Mlachila, Montfort, Seok Gil Park, Masafumi Yabara
- 13/2 — Energy Subsidy Reform in Sub-Saharan Africa: Experiences and Lessons — Alleyne, Trevor, Mumtaz Hussain
- 13/2 — Boom, Bust, or Prosperity? Managing Sub-Saharan Africa’s Natural Resource Wealth — Lundgren, Charlotte J., Alun H. Thomas, Robert C. York
- 13/1 — Restoring Sustainability in a Changing Global Environment: Options for Swaziland — Basdevant, Olivier, Emily Forrest, Borislava Mircheva
- 11/07 — Macroeconomic Vulnerabilities Stemming from the Global Economic Crisis: The Case of Swaziland — Basdevant, Olivier, Chikako Baba, Borislava Mircheva
- 11/06 — What Do Fast Job Creators Look Like? Some Stylized Facts and Perspectives on South Africa — Zhan, Zaijin
- 11/04 — South Africa: Macro Policy Mix and Its Effects on Growth and the Real Exchange Rate—Empirical Evidence and GIMF Simulations — Canales-Kriljenko, Jorge Iván
- 11/02 — Measuring the Potential Output of South Africa — Klein, Nir
- 11/01 — In the Wake of the Global Economic Crisis: Adjusting to Lower Revenue of the Southern African Customs Union in Botswana, Lesotho, Namibia, and Swaziland — Mongardini, Joannes, Dalmacio Benicio, Thomson Fontaine, Gonzalo C. Pastor, Geneviève Verdier
- 10/03 — Zimbabwe: Challenges and Policy Options after Hyperinflation — Kramarenko, Vitaliy, Lars H. Engstrom, Geneviève Verdier, Gilda Fernandez, Stefan E. Oppers, Richard Hughes, James McHugh, Warren L. Coats
- 10/02 — Expenditure Composition and Economic Developments in Benin — Pani, Marco, Mohamed El Harrak
- 10/01 — Wage Policy and Fiscal Sustainability in Benin — Lundgren, Charlotte J.
- 09/04 — The Global Financial Crisis and Adjustments to Shocks in Kenya, Tanzania, and Uganda: A Balance Sheet Analysis Perspective — Masha, Iyabo
- 09/03 — Impact of the Global Financial Crisis on Exchange Rates and Policies in Sub-Saharan Africa — Ben Ltaifa, Nabil, Stella Kaendera, Shiv Dixit
- 09/02 — Spillover Effects and the East African Community: Explaining the Slowdown and the Recovery — Drummond, Paulo, Gustavo Ramirez
- 09/01 — Foreign Exchange Reserve Adequacy in East African Community Countries — Drummond, Paulo, Aristide Mrema, Stéphane Roudet, Mika Saito

### DOCUMENT DE POLITIQUE GÉNÉRALE
- 12/14 — Pan-African Banks - Opportunities and Challenges for Cross-Border Oversight — Préparé par une équipe des services du FMI dirigée par Charles Enoch, Paul Mathieu, Mauro Mecagni.

### NOTES SUR LES EFFETS DE CONTAGION
- 2016/Issue 9 — Sub-Saharan Migration: Patterns and Spillovers — Gonzalez-Garcia, Jesus, Ermal Hitaj, Montfort Mlachila, Arina Viseth, Mustafa Yenice

### NOTES DE RÉFLEXION DES SERVICES DU FMI
- 15/11 — Is the Glass Half Empty or Half Full? Issues in Managing Water Challenges and Policy Instruments — Kalpana Kochhar, Catherine Pattillo, Yan Sun, Nujin Suphaphiphat, Andrew Swiston, Robert Tchaidze, Benedict Clements, Stefania Fabrizio, Valentina Flamini, Laure Redifer, Harald Finger et une équipe des services du FMI
- 12/13 — Economic Diversification in LICs: Stylized Facts and Macroeconomic Implications — Papageorgiou, Chris, Nicola Spatafora
- 09/20 — The International Financial Crisis and Global Recession: Impact on the CEMAC Region and Policy Considerations — Wakeman-Linn, John, Rafael A. Portillo, Plamen Iossifov, Dimitre Milkov
- 09/16 — The Global Financial Crisis: Impact on WAEMU Member Countries and Policy Options — Mueller, Johannes, Irene Yackovlev, Hans Weisfeld
- 09/14 — The Southern African Development Community’s Macroeconomic Convergence Program: Initial Performance — Burgess, Robert
- 09/10 — Fiscal Policy in Sub-Saharan Africa in Response to the Impact of the Global Crisis — Berg, Andrew, Norbert Funke, Alejandro Hajdenberg, Victor Duarte Lledo, Rolando Ossowski, Martin Schindler, Antonio Spilimbergo, Shamsuddin Tareq, Irene Yackovlev

### DOCUMENTS DE TRAVAIL
- 17/48 — Understanding Inflation in Malawi: A Quantitative Investigation — Dong Frank Wu
- 16/247 — Food Inflation in Sub-Saharan Africa: Causes and Policy Implications — Ali Uppal, Emre Alper, Niko Hobdari
- 16/205 — Surprise, Surprise: What Dirves the Rand/U.S. Dollar Exchange Rate Volatility? — Axel Schimmelpfennig, Nasha Maveé, Roberto Perrelli
- 16/140 — Gender Equality and Economic Diversification — Kazandjian, Romina, Lisa Kolovich, Kalpana Kochhar, Monique Newiak
- 16/137 — South Africa: Labor Market Dynamics and Inequality — Anand, Rahul, Siddharth Kothari, Naresh Kumar
- 16/120 — Monetary Policy Implementation and Volatility Transmission along the Yield Curve: The Case of Kenya — Alper, Emre, R. Armando Morales, Fan Yang
- 16/118 — Women’s Opportunities and Challenges in Sub-Saharan African Job Markets — Dieterich, Christine, Anni Huang, Alun H. Thomas
- 16/115 — Investing in Electricity, growth, and Debt Sustainability: The Case of Lesotho — Andreolli, Michele, Aidar Abdychev
- 16/113 — The Consequences of Policy Uncertainty: Disconnects and Dilutions in the South African Real Effective Exchange Rate-Export Relationship — Hlatshwayo, Sandile, Magnus Saxegaard
- 16/111 — Inequality, Gender Gaps and Economic Growth: Comparative Evidence for Sub-Saharan Africa — Hakura, Dalia, Mumtaz Hussain, Monique Newiak, Vimal Thakoor, Fan Yang
- 16/24 — South Africa’s Exports Performance: Any Role for Structural Factors? — Anand, Rahul, Roberto Perrelli, Boyang Zhang
- 16/17 — Unintended Consequences: Spillovers from Nigeria’s Fuel Pricing Policies to Its Neighbor — Mlachila, Montfort, Edgardo Ruggiero, David Corvino
- 16/12 — Commodity Price Shocks and Financial Sector Fragility — Kinda, Tidiane, Montfort Mlachila, Rasmané Ouedraogo
- 15/268 — Exiting From Fragility in sub-Saharan Africa : The Role of Fiscal Policies and Fiscal Institutions — Delechat, Corinne, Ejona Fuli, Dafina Mulaj, Gustavo Ramirez, Rui Xu
- 15/236 — Public Investment in a Developing Country Facing Resource Depletion — Alter, Adrian, Matteo Ghilardi, Dalia Hakura
- 15/235 — Financial Inclusion and Development in the CEMAC — Alter, Adrian, Boriana Yontcheva
- 15/221 — Spillovers from China onto Sub-Saharan Africa: Insights from the Flexible System of Global Models (FSGM) — Anderson, Derek, Jorge Iván Canales Kriljenko, Paulo Drummond, Pedro Espaillat, Dirk Muir
- 15/190 — Systemic Risk Assessment in Lo Income Countries : Balancing Financial Stability and Development — Marchettini, Daniela, Rodolfo Maino
- 15/189 — On the Drivers of Inflation in Sub-Saharan Africa — Nguyen, Anh D. M., Jemma Dridi, D. Filiz Unsal, Oral Williams
- 15/185 — Sub-Saharan Employment Developments : The Important Role of Household Enterprises with an Application to Rwanda — Alun H. Thomas
- 15/169 — Household Financial Acces and Risk Sharing in Nigeria — Carlson, Stacey, Era Dabla-Norris, Mika Saito, Yu Shi
- 15/149 — Network Effects of International Shocks and Spillovers — Kireyev, Alexei and Andrei Leonidov
- 15/126 — Pension Reforms in Mauritius: Fair and Fast—Balancing Social Protection and Fiscal Sustainability — Soto, Mauricio, Vimal Thakoor, Martin Petri
- 15/99 — How to Improve the Effectiveness of Monetary Policy in the West African Economic and Monetary Union — Kireyev, Alexei
- 15/83 — Do Resource Windfalls Improve the Standard of Living in Sub-Saharan African Countries?: Evidence from a Panel of Countries — Munseob Lee, Cheikh A. Gueye
- 15/49 — Remittances and Macroeconomic Volatility in African Countries — Ahmat Jidoud
- 15/25 — Harnessing Resource Wealth for Inclusive Growth in Fragile States — Delechat, Corinne, Will Clark, Pranav Gupta, Malangu Kabedi-Mbuyi, Mesmin Koulet-Vickot, Carla Macario, Toomas Orav, Manuel Rosales, Renee Tapsoba, Dmitry Zhdankin, Susan Yang
- 15/17 — Fiscal Policy Implications for Labor Market Outcomes in Middle-Income Countries — Stepanyan, Ara, Lamin Leigh
- 15/12 — Revisiting teh Concept of Dollarization: The Global Financial Crisis and Dollarization in Low-Income Countries — Mwase, Nkunde, Francis Y. Kumah
- 14/241 — Global Financial Transmission into Sub-Saharan Africa– A Global Vector Autoregression Analysis — Canales Kriljenko, Jorge Iván, Mehdi Hosseinkouchack, Alexis Meyer-Cirkel
- 14/231 — Safe Debt and Uncertainty in Emerging Markets: An Application to South Africa — Saxegaard, Magnus
- 14/172 — A Quality of Growth Index for Developing Countries: A Proposal — Mlachila, Montfort, Rene Tapsoba, Sampawende J.-A. Tapsoba
- 14/159 — Introducing a Semi-Structural Macroeconomic Model for Rwanda — Charry, Luisa, Pranav Gupta, Vimal Thakoor
- 14/150 — How Solid is Economic Growth in the East African Community? — Gigineishvili, Nikoloz, Paolo Mauro, Ke Wang
- 14/149 — Islamic Finance in Sub-Saharan Africa: Status and Prospects — Gelbard, Enrique, Mumtaz Hussain, Rodolfo Maino, Yibin Mu, Etienne B. Yehoue
- 14/143 — Africa Rising: Harnessing the Demographic Dividend — Drummond, Paulo, Vimal Thakoor, Shu Yu
- 14/94 — Does Openness Matter for Financial Development in Africa? — David, Antonio, Montfort Mlachila, Ashwin Moheeput
- 14/51 — Surging Investment and Declining Aid: Evaluating Debt Sustainability in Rwanda — Clark, Will, Birgir Arnason
- 13/261 — Natural Gas, Public Investment and Debt Sustainability in Mozambique — Melina, Giovanni, Yi Xiong
- 13/250 — Africa’s Rising Exposure to China: How Large Are Spillovers Through Trade? — Drummond, Paulo, Estelle X. Liu
- 13/239 — Money Targeting in a Modern Forecasting and Policy Analysis System: an Application to Kenya — Andrle, Michal, Andrew Berg, Enrico Berkes, Rafael A Portillo, Jan Vlcek, R. Armando Morales
- 13/237 — The Investment-Financing-Growth Nexus: The Case of Liberia — Clark, Will, Manuel Rosales
- 13/226 — Making Monetary Policy More Effective: The Case of the Democratic Republic of the Congo — Fischer, Felix, Charlotte J. Lundgren, Samir Jahjah
- 13/216 — Fiscal Discipline in WAEMU: Rules, Institutions, and Markets — Hitaj, Ermal, Yasin Kursat Onder
- 13/215 — Inclusive Growth and Inequality in Senegal — Kireyev, Alexei
- 13/201 — Africa’s Got Work to Do: Employment Prospects in the New Century — Fox, Louise, Cleary Haines, Jorge Huerta Muñoz, Alun Thomas
- 13/188 — Resource Dependence and Fiscal Effort in Sub-Saharan Africa — Thomas, Alun, Juan P. Treviño
- 13/176 — Benchmarking Structural Transformation Across the World — Dabla-Norris, Era, Alun H. Thomas, Rodrigo Garcia-Verdu, Yingyuan Chen
- 13/173 — Tax Administration Reform in the Francophone Countries of Sub-Saharan Africa — Fossat, Patrick, Michel Bua
- 13/161 — Financial Depth in the WAEMU: Benchmarking Against Frontier SSA Countries — Ahokpossi, Calixte, Kareem Ismail, Sudipto Karmakar, Mesmin Koulet-Vickot
- 13/147 — Investing Volatile Oil Revenues in Capital-Scarce Economies: An Application to Angola — Richmond, Christine, Irene Yackovlev, Shu-Chun Yang
- 13/144 — Fiscal Sustainability, Public Investment, and Growth in Natural Resource-Rich, Low-Income Countries: The Case of Cameroon — Samaké, Issouf, Priscilla Muthoora, Bruno Versailles
- 13/139 — Inclusive Growth: An Application of the Social Opportunity Function to Selected African Countries — Adedeji, Olumuyiwa, Huancheng Du, Maxwell Opoku-Afari
- 13/116 — Inclusive Growth and the Incidence of Fiscal Policy in Mauritius — Much Progress, But More Could be Done — David, Antonio, Martin Petri
- 13/53 — The Quality of the Recent High-Growth Episode in Sub-Saharan Africa — Mlachila, Montfort, Marcelo Martinez
- 13/51 — Benchmarking Banking Sector Efficiency Across Regional Blocks in Sub-Saharan Africa: What Room for Policy? — Boutin-Dufresne, Francois, Santiago Peña, Oral Williams, Tomasz A. Zawisza
- 13/39 — Monetary Transmission Mechanism in the East African Community: An Empirical Investigation — Davoodi, Hamid, Shiv Dixit, Gabor Pinter
- 13/34 — Determinants of Bank Interest Margins in Sub-Saharan Africa — Ahokpossi, Calixte
- 13/32 — Exchange Rate Liberalization in Selected Sub-Saharan African Countries: Successes, Failures, and Lessons — Mæhle, Nils, Haimanot Teferra, Armine Khachatryan
- 13/31 — Inward and Outward Spillovers in the SACU Area — Canales-Kriljenko, Jorge Iván, Farayi Gwenhamo, Saji Thomas
- 13/12 — Bond Markets in Africa — Mu, Yibin, Peter Phelps, Janet Stotsky
- 12/290 — Inequalities and Growth in the Southern African Customs Union (SACU) Region — Basdevant, Olivier, Dalmacio Benicio, Yorbol Yakhshilikov
- 12/280 — Striking an Appropriate Balance Among Public Investment, Growth, and Debt Sustainability in Cape Verde — Mu, Yibin
- 12/272 — The East African Community: Prospects for Sustained Growth — McAuliffe, Catherine, Sweta Saxena, Masafumi Yabara
- 12/249 — Financing Growth in the WAEMU through the Regional Securities Market: Past Successes and Current Challenges — Diouf, Mame Astou, Francois Boutin-Dufresne
- 12/208 — Exchange Rate and Foreign Interest Rate Linkages for Sub-Saharan Africa Floaters — Thomas, Alun
- 12/196 — A Financial Conditions Index for South Africa — Gumata, Nombulelo, Nir Klein, Eliphas Ndou
- 12/177 — Estimating the Implicit Inflation Target of the South African Reserve Bank — Klein, Nir
- 12/160 — Monetiation in Low- and Middle-Income Countries — McLoughlin, Cameron, Noriaki Kinoshita
- 12/148 — The Relationship between the Foreign Exchange Regime and Macroeconomic Performance in Eastern Africa — Stotsky, Janet Gale, Olumuyiwa Adedeji, Manuk Ghazanchyan, Nils O. Maehle
- 12/141 — Exchange Rate Pass-Through in Sub-Saharan African Economies and its Determinants — Razafimahefa, Ivohasina Fizara
- 12/136 — Welfare Effects of Monetary Integration: The Common Monetary Area and Beyond — Asonuma, Tamon, Xavier Debrun, Paul R. Masson
- 12/127 — As You Sow So Shall You Reap: Public Investment Surges, Growth, and Debt Sustainability in Togo — Andrle, Michal, Antonio David, Raphael A. Espinoza, Marshall Mills, Luis-Felipe Zanna
- 12/119 — Tracking Short-Term Dynamics of Economic Activity in Low-Income Countries in the Absence of High-Frequency GDP Data — Opoku-Afari, Maxwell, Shiv Dixit
- 12/108 — Mobilizing Revenue in Sub-Saharan Africa: Empirical Norms and Key Determinants — Drummond, Paulo, Wendell Daal, Nandini Srivastava, Luiz E.

*Source: sreo0517f-pubs - Section 1 (IMF PDF listing publications of the Africa Department, 2009–17).*

### Section 2

### sreo0517f-pubs - Section 2

### Monetary Policy and Inflation
- Monetary Policy in Low-Income Countries in the Face of the Global Crisis: The Case of Zambia — Baldini, Alfredo, Jaromir Benes, Andrew Berg, Mai Dao, and Rafael Portillo — 12/93
- Monetary Policy Transmission in Ghana: Does the Interest Rate Channel Work? — Kovanen, Arto — 11/275
- Does Money Matter for Inflation in Ghana? — Kovanen, Arto — 11/274
- On the Stability of Monetary Demand in Ghana: A Bounds Testing Approach — Dagher, Jihad, Arto Kovanen — 11/273
- Inflation Differentials in the GCC: Does the Oil Cycle Matter? — Cripolti, Valerio, George Tsibouris — 11/294
- Inflation Dynamics in the CEMAC Region — Caceres, Carlos, Marcos Poplawski-Ribeiro, Darlena Tartari — 11/232
- Modeling Inflation in Chad — Kinda, Tidiane — 11/57
- Inflation Uncertainty and Relative Price Variability in WAEMU — Fernandez Valdovinos, Carlos, Kerstin Gerling — 11/59
- Understanding Inflation Inertia in Angola — Klein, Nir, Alexander Kyei — 09/98

### Fiscal Policy, Revenue, and Public Finance
- Fiscal Policies and Rules in the Face of Revenue Volatility Within Southern Africa Customs Union Countries (SACU) — Basdevant, Olivier — 12/92
- The Design of Fiscal Adjustment Strategies in Botswana, Lesotho, Namibia, and Swaziland — Basdevant, Olivier, Dalmacio Benicio, Borislava Mircheva, Joannes Mongardini, Geneviève Verdier, Susan Yang, Luis-Felipe Zanna — 11/266
- The Cyclicality of Fiscal Policies in the CEMAC Region — Mpatswe, Gaston K., Sampawende J. Tapsoba, Robert C. York — 11/205
- Fiscal Policy Implementation in Sub-Saharan Africa — Lledo, Victor Duarte, Marcos Poplawski Ribeiro — 11/172
- Fiscal Sustainability and the Fiscal Reaction Function for South Africa — Burger, Philippe, Alfredo Cuevas, Ian Stuart, Charl Jooste — 11/69
- Fiscal Expectations under the Stability and Growth Pact: Evidence from Survey Data — Poplawski-Ribeiro, Marcos, Jan-Christoph Rulke — 11/48
- A Rule Based Medium-Term Fiscal Policy Framework for Tanzania — Kim, Daehaeng, Mika Saito — 09/244
- Budget Institutions and Fiscal Performance in Low-Income Countries — Dabla-Norris, Era, Richard Allen, Luis-Felipe Zanna, Tej Prakash, Eteri Kvintradze, Victor Duarte Lledo, Irene Yackovlev, Sophia Gollwitzer — 10/80
- Cyclical Patterns of Government Expenditures in Sub-Saharan Africa: Facts and Factors — Lledo, Victor, Irene Yackovlev, Lucie Gadenne — 09/274

### Exchange Rates, Real Exchange Rates, and External Sector
- Exchange Rate Volatility Under Peg: Do Trade Patterns Matter? — Klein, Nir — 12/73
- International Reserves in Low-Income Countries: Have They Served as Buffers? — Yabara, Masafumi — 12/7
- Oil-Price Boom and Real Exchange Rate Appreciation: Is There Dutch Disease in the CEMAC? — Treviño, Juan Pedro — 11/268
- External Sustainability of Oil-Producing Sub-Saharan African Countries — Takebe, Misa, Robert C. York — 11/207
- De Jure versus De Facto Exchange Rate Regimes in Sub-Saharan Africa — Slavov, Slavi T. — 11/198
- Reviving the Competitive Storage Model: A Holistic Approach to Food Commodity Prices — Miao, Yanliang, Weifeng Wu, Norbert Funke — 11/64
- The Real Exchange Rate and Growth Revisited: The Washington Consensus Strikes Back? — Berg, Andrew, Yanliang Miao — 10/58
- The Value of Institutions for Financial Markets: Evidence from Emerging Markets — Akitoby, Bernardin, Thomas Stratmann — 09/27

### Financial Sector, Banking, and Capital Markets
- Assessing Bank Competition within the East African Community — Lonkeng Ngouana, Constant — 12/32
- Prudential Liquidity Regulation in Developing Countries: A Case Study of Rwanda — Sanya, Sarah, Matthew Gaertner — 12/20
- Capital Market Integration: Progress Ahead of the East African Community Monetary Union — Sanya, Sarah, Wayne Mitchell, Angelique Kantengwa — 12/18
- Determinants of Interest Rate Pass-Through: Do Macroeconomic Conditions and Financial Market Structure Matter? — Kpodar, Kangni, Maelan Le Goff — 11/176
- Financial Deepening, Property Rights and Poverty: Evidence from Sub-Saharan Africa — Singh, Raju Jan, Yifei Huang — 11/196
- Banking Efficiency and Financial Development in Sub-Saharan Africa — Kablan, Sandrine — 10/136
- The Determinants of Commercial Bank Profitability in Sub-Saharan Africa — Flamini, Valentina, Calvin A. McDonald, Liliane Schumacher — 09/15
- Bank Efficiency in Sub-Saharan African Middle-Income Countries — Chen, Chuling — 09/14
- Sub-Saharan Africa’s Integration in the Global Financial Markets — Delechat, Corinne, Gustavo Ramirez, Smita Wagh, John Wakeman-Linn — 09/115
- Financial Deepening in the CFA Franc Zone: The Role of Institutions — Singh, Raju, Kangni Kpodar, Dhaneshwar Ghura — 09/113

### Growth, Development, and Structural Issues
- Real Wage, Labor Productivity, and Employment Trends in South Africa: A Closer Look — Basdevant, Olivier — 12/92
- How Costly Are Debt Crises? — Baba, Chikako, Annamaria Kokenyne — 11/280
- The Quest for Higher Growth in the WAEMU Region: The Role of Accelerations and Decelerations — Kinda, Tidiane, Montfort Mlachila — 11/174
- Reviving the Competitive Storage Model: A Holistic Approach to Food Commodity Prices — Miao, Yanliang, Weifeng Wu, Norbert Funke — 11/64
- Growth in Africa under Peace and Market Reforms — Korbut, Olessia, Gonzalo Salinas, Cheikh A. Gueye — 11/40
- Understanding the Growth of African Markets — Yartey, Charles Amo, Mihasonirina Andrianaivo — 09/182
- How Can Burundi Raise its Growth Rate? The Impact of Civil Conflicts and State Intervention on Burundi’s Growth Performance — Basdevant, Olivier — 09/11

### Trade, Remittances, and External Flows
- Do Remittances Reduce Aid Dependency? — Kpodar, Kangni, Maelan Le Goff — 11/246
- FDI from BRICs to LICs: Emerging Growth Driver? — Mlachila, Montfort, Misa Takebe — 11/178
- What Can International Cricket Teach Us About the Role of Luck in Labor Markets? — Aiyar, Shekhar, Rodney Ramcharan — 10/225
- Capital Flows, Exchange Rate Flexibility, and the Real Exchange Rate — Kinda, Tidiane, Jean-Louis Combes, Patrick Plane — 11/9
- FDI Flows to Low-Income Countries: Global Drivers and Growth Implications — Dabla-Norris, Era, Jiro Honda, Amina Lahrèche-Révil, Geneviève Verdier — 10/132
- How Do International Financial Flows to Developing Countries Respond to Natural Disasters? — David, Antonio — 10/166
- Dedollarization in Liberia—Lessons from Cross-Country Experience — Erasmus, Lodewyk, Jules Leichter, Jeta Menkulasi — 09/37

### Sectoral and Country-Specific Studies
- South Africa: The Cyclical Behavior of the Markups and Its Implications for Monetary Policy — Klein, Nir — 11/204
- Burkina Faso—Policies to Protect the Poor from the Impact of Food and Energy Price Increases — Arze del Granado, Javier, Isabell Adenauer — 11/202
- Ghana: Will It Be Gifted, or Will It Be Cursed? — Aydin, Burcu — 11/104
- Ghana: Demand for Broad Money and Implications for Monetary Policy Conduct — Sriram, Subramanian S. — 09/192
- São Tomé and Príncipe: Domestic Tax System and Tax Revenue Potential — Farhan, Nisreen — 09/215
- Madagascar: A Competitiveness and Exchange Rate Assessment — Eyraud, Luc — 09/107
- The Macroeconomics of Scaling Up Aid: The Gleneagles Initiative for Benin — Mongardini, Joannes, Issouf Samaké — 09/115
- The Macroeconomic Impact of Scaled-Up Aid: The Case of Niger — Farah, Abdikarim, Emilio Sacerdoti, Gonzalo Salinas — 09/36

*Content derived from sreo0517f-pubs - Section 2.*

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_Source: https://www.imf.org/-/media/files/publications/reo/afr/2017/may/pdf/french/sreo0517f-pubs.pdf_