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Publications (17)
Working Paper
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Ethiopia has experienced rapid economic growth since 2005. Real gross domestic product (GDP) grew at an average rate of 10.5 per cent per annum for the period between 2004–05 and 2013–14. Public investment in key infrastructure and interventions in the agriculture sector have made important...
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This paper looks to uncover the growth traps and opportunities for the South African economy, with a focus on underlying labour market dynamics. We explore the potential of South Africa’s demographic dividend. We also consider the structure of the labour market and the growth-employment interactions...
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Ghana’s status as one of the African Lions is linked to the country’s remarkable growth performance, which culminated in the attainment of lower middle-income status. However, employment response to growth has been weak. Additionally, growth has been accompanied by substantial reduction in poverty...
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– Kenya country case study
This paper mainly analyses the drivers of economic growth in Kenya and the linkages to the labour market dynamics, with a focus on population growth, its structure, and the prospects of reaping a demographic dividend. This is in recognition that Kenya, as the ninth largest economy in Africa and the...
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This study examines the relationship between growth and employment in Nigeria to gain insights into the country's paradox of high economic growth alongside rising poverty and inequality. The methodology adopted is the Shapley decomposition approach, complemented with econometric estimation of the...
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Over the past twenty years, Mozambique has achieved remarkable progress in promoting macroeconomic growth and stability. Nonetheless, poverty rates remain high and labour market activity is dominated by smallholder farming. We use recent household survey data to dig into these trends and provide an...
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Nigeria is governed by a federal system, hence its fiscal operations also adhere to the same principle, a fact which has serious implications on how the tax system is managed. The country’s tax system is lopsided, and dominated by oil revenue. It is also characterized by unnecessarily complex...
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– Case Study of Cameroon
In the beginning of the 1980s, Cameroon witnessed a sustained rate of growth, associated essentially with the boom in the oil sector. Increased budgetary and extra-budgetary resources generated by this sector helped to raise the investment rate in the economy, and to maintain a reasonable level of...
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In evaluating tax reform in the developing countries, one first needs to determine what is the unique role of the tax system in each particular country. One of the key reasons for undertaking tax reforms in Kenya was to address issues of inequality and to create a sustainable tax system that could...
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Ghana’s tax reforms constitute the major policy instrument needed to accelerate growth and poverty reduction. Over the past two decades, the government has consistently spent more revenue than it is able to generate and the gap is often financed with foreign aid which has perpetuated the country’s...
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In 1991 the Ethiopian Revolution Democratic Front (EPRDF) toppled the old ‘socialist’ regime that had ruled the country for seventeen years. In contrast to the previous policy regime of hard control, EPRDF initiated a wide range of reforms that covered not only the tax system but also the exchange...
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The purpose of this paper is to explore economic and political implications of Europe's Economic and Monetary Union (EMU) for developing countries. In strictly economic terms, influences will be communicated through both trade and financial channels. Economies in the developing world will be...
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– Retrospect and Prospect
The management of international reserves remains one of the understudied aspects of the international monetary system. There are now a number of reasons why this should change. On the supply side of the market there is the advent of the euro, creating a full-fledged rival to the dollar for the first...
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The partial effect of nominal exchange rate volatility on exports from each EMU member to the rest of the EMU is estimated on annual data for 1967-97, using modern time-series methods. The long-run relations between exchange rate volatility and exports are mostly negative and in several cases...
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– Commitment, institutional Capacity and the Monetary-Fiscal Mix
An interesting theory of transition must give a convincing account of structural adjustment and supply side improvement. In this paper, I discuss the incentives for government to undertake costly supply side improvement and how these relate to incentives governing the design of monetary and fiscal...
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The emergence of the euro as a key currency, perhaps eventually rivalling the US dollar in importance, may have important macroeconomic implications for industrial as well as developing economies in the years ahead. This paper focuses on two related questions. First, what effects, if any, will the...
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