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No Credit Due: The World Bank and the IMF in Africa

This document, which is divided in two parts, mainly seeks to explain the policy-based lending programme of the World Bank and the significance of its engagement with developing economies. The first part deals with the history and economics of inte…

The Mist of Central Bank Balance Sheets

The central banks of large and emerging market economies have recently gone through a period of extraordinary expansion of balance sheets. Currently, they are all now possibly facing a transition to less abnormal times. The fact that one group, howe…

Africa-Atlantic Integration: Can the Economy Unite What Geology has Divided? / L’intégration Afrique-Atlantique : L’économie peut-elle Réunir ce qui a été Séparé par la Géologie ?

The Atlantic basin situated in the Northern part of the country, holds a strategic place in the global economy given the systemic importance it represents. However, this area remains very heterogeneous with significant differences between the econom…

Rethinking Development Finance: Towards a New “possible trinity” for Growth?

Development finance is an issue that typically concerns developing countries. This is where numerous, grave socio-economic problems persist, including – and not among the least – the need for stable development finance in higher quantity and of hig…

New Development Finance Measure should be TOSSD out the Window!

In light of the new global 2030 Agenda, donor countries have been developing a new statistic to measure their contribution towards the Sustainable Development Goals (SDGs). Although still a work in progress, Total Official Support for Sustainable…

Using Foreign Direct Investment to Upgrade and Diversify Exports from Morocco: Opportunities and Challenges in Comparative Perspective

Developing countries that manage to upgrade and diversify their export profile grow more rapidly and achieve greater welfare gains than countries that simply export larger volumes of what they have traditionally produced. This discussion paper ex…

Matchmaking Finance and Infrastructure

The world economy – and emerging market and developing economies in particular – display a gap between infrastructure needs and its finance (Canuto, 2014). On the one hand, infrastructure investment has fallen far short of what would be necessary to…

Africa and Global Commodity Markets: from Cyclical Realities to Structural Challenges

In June 2017, the second Annual Report on Commodity Analytics and Dynamics In Africa (Arcadia report) was published, in collaboration between the OCP Policy Center and CyclOpe. Its aim is to annually report on the evolution of the economic, legal, f…

Choix du Régime de Change, chocs Exogènes et Stabilité Financière dans l’Union économique et Monétaire Ouest Africaine (UEMOA) / Exchange Rate Regime Choice, Exogenous Shocks and Financial Stability   in the West African Economic and Monetary Union

It is always a debate at the international level about the choice of exchange rate regimes. In general, the exchange rate instability is unfavourable for the economies such as the members of WAEMU who are specializing in the production of primary …

Développement Financier, Croissance économique et Inégalités de Revenus entre les Pays de l’UEMOA / Financial Development, Economic Growth and Inequalities of Income between WAEMU Countries

The aim of this paper is to analyse the impact of financial development first on GDP per capita growth and second on inequalities between UEMOA countries during the period 1960- 2002. Time series data are from the 2004 World Development Indicators C…

Trends and Cyclicality of Commodity Prices (Part 1): Debating the Prebisch-Singer Hypothesis

Ce document est disponible en Français aussi : Tendances et cyclicité du prix des matières premières (partie 1) : le débat sur l’hypothèse de Prebisch-Singer. Dealing with the dynamics of commodity prices requires the characterization of three p…

Tendances et Cyclicité du Prix des Matières Premières (partie 1): le Débat sur l’Hypothèse de Prebisch-Singer / Trends and Cyclicality of Commodity Prices (Part 1): Debating the Prebisch-Singer hypothesis

This title is also available in English. Dealing with the dynamics of commodity prices requires the characterization of three phenomena to which they are subject: (very) long-term trends, medium / long-term cycles and short-term variability / volati…

Funding African Governance Institutions and Processes: Insights and Lessons

"This paper examines the financing of selected governance institutions in Africa, looking at national, continental and international levels and at the institutions and processes that assess, improve or incentivise governance. Specifically, anti-corr…

Harnessing Zambia’s External Debt for Development

"In recent times there has been debate on Zambia’s steadily growing external debt. This comes in the wake of debt relief efforts of the Highly Indebted Poor Country (HIPC) and Multilateral Debt Relief (MDR) initiatives which saw a reduction of the …

Capital Flight and External Debt in Nigeria

"This study concentrates on capital flight and external debt in Nigeria. The study will focus on the definition, magnitude, determinants, mechanisms and consequences of capital flight. The analysis will also explore the possible measureable assets…

Corporate Governance Mechanisms and Firm Financial Performance in Nigeria

"This study aims to provide additional insights into the relationship between governance mechanisms and firm financial performance in Nigeria. The article focuses on the five dimensions of corporate governance,abstracting from other dimensions such …

Dynamic Inter-Links Among the Exchange Rate, Price Level and Terms of Trade in a Managed Floating Exchange Rate System: The Case of Ghana

"This study examined the dynamic inter-relationships among domestic price level, nominal exchange rate, terms of trade of cocoa, bank rate, domestic credit and foreign exchange reserves using the cointegration, vector error correction (VEC) and vect…

Facing the Global Financial Crisis - Policy Lessons from Small Mauritius

"The objective of the paper therefore is to assess the case of a small island developing state like Mauritius where government has attempted to mitigate the negative consequences of the global economic crisis through an appropriate policy mix. So f…

Financial Deepening, Economic Growth and Development: Evidence from Selected Sub-Saharan African Countries

"This study identifies the range of financial assets that can adequately approximate financial deepening,which simply means an increase in the supply of financial assets in the economy. FD is represented by two variables, the degree of financial int…

Financial Sector Liberalization and Productivity Change in Uganda's Commercial Banking Sector

"The study employed quarterly data over a 13-year period from 1993 to 2005 to study the evolution of Total Factor Productivity (TFP) and its determinants among 11 banks in Uganda. Productivity was measured using the Malmquist index while the determi…

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