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F&D logo
A quarterly magazine of the IMF
  December 2001
Volume 38, Number 4
Globalization and Africa

Overview of the Main Issues
Saleh M. Nsouli and Françoise Le Gall

Africa Faces Challenges of Globalization
Mohamed Daouas

What Africa Needs to Do to Benefit from Globalization
S. Ibi Ajayi

The Need for Stronger Domestic Policies and International Support
Evangelos A. Calamitsis

An Agenda for Trade, Investment, and Regional Integration
Robert Sharer

The Role of Institutional Reforms
Seyni N'Diaye

Mauritius: A Case Study
Arvind Subramanian
"And they (the political parties in Mauritius) seem to recognize that, at the end of the day, they will be left with what they started with: an agricultural colony, created by empire in an empty island and always meant to be part of something larger, now given a thing called independence and set adrift, an abandoned imperial barracoon, incapable of economic or cultural autonomy."
"They (the Mauritians) have such confidence in their rights, their votes, the power of their opinions."

—V.S. Naipaul,
The Overcrowded Barracoon

Growth Strategy for North Africa: A Regional Approach
Paul Chabrier

How Tunisia Is Meeting the Challenges of Globalization
Abdellatif Saddem

Making Globalization Work in Africa
G. E. Gondwe

The New International Financial Architecture and Africa
Saleh M. Nsouli and Françoise Le Gall

Other Topics

Refocusing IMF Conditionality
Masood Ahmed, Timothy Lane, and Marianne Schulze-Ghattas
Shortly after he assumed office as Managing Director of the IMF in May 2000, Horst Köhler launched a reform of the conditionality associated with its lending. What lies behind this change in approach, and what prospects does it have for strengthening implementation of reforms in the IMF's member countries?

Human Rights and the IMF
Sérgio Pereira Leite
Human rights and macroeconomic stability are far from incompatible. Rather, they both play crucial roles in the fight against poverty. By supporting sound economic policies and encouraging constructive dialogue within civil society, the IMF contributes to human rights.

International Trade and Poverty Alleviation
Geoffrey J. Bannister and Kamau Thugge
How does trade liberalization affect the poor, and how can they be protected against its negative short-term effects?

Oil Funds: Problems Posing as Solutions?
Jeffrey Davis, Rolando Ossowski, James Daniel, and Steven Barnett
Heavy dependence on oil revenues—which are volatile and unpredictable, and will, sooner or later, dry up— greatly complicates a country's fiscal policy. To tackle these problems, many oil-producing countries are setting up oil funds. But are these really a solution, or just a problem posing as one?

A Fresh Look at Keynes: Robert Skidelsky's Trilogy
Anand Chandavarkar
Keynes is widely recognized as the dominant economist of the past century. A recent scholarly biography evaluates how well his reputation has stood the test of time.

New Book Features IMF's Role in Combating the Global Debt Crisis


From the Editor

Point of View

The Rising Inequality of World Income Distribution
Robert Hunter Wade

Financial Focus

Are Foreign Investors in Emerging Market Economies a Panic-Prone Herd?
Eduardo Borensztein and R. Gaston Gelos


Book Reviews

The Fed: The Inside Story of How the World's Most Powerful Financial Institution Drives the Markets, by Martin Mayer

The Rules of the Global Game: A New Look at U.S. International Economic Policymaking, by Kenneth W. Dam

Letters to the Editor

Index 2001