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improve efficiency in all three social areas, and that room for fiscal savings is particularly apparent in social protection …
Persistent link: https://www.econbiz.de/10014405868
This Selected Issues paper on the Arab Republic of Egypt examines the dynamic relationship between the nominal exchange rate and prices during Egypt’s exit from a managed exchange rate regime. The exit from the peg went through several phases, including a series of step devaluations between...
Persistent link: https://www.econbiz.de/10014406070
We review the literature on Dutch disease, and document that shocks that trigger foreign exchange inflows (such as natural resource booms, surges in foreign aid, remittances, or capital inflows) appreciate the real exchange rate, generate factor reallocation, and reduce manufacturing output and...
Persistent link: https://www.econbiz.de/10014403243
The challenge of achieving broad-based growth in Lesotho is discussed. Economic growth is inconsistent. Lesotho is highly dependent on trade with South Africa. The sources of growth in Lesotho using a social accounting matrix model and a growth-accounting framework are outlined. The main...
Persistent link: https://www.econbiz.de/10014405058
This Selected Issues paper on the Kingdom of Lesotho reviews the broad objectives and key institutional features of the Common Monetary Area (CMA) relating to currency arrangements. The CMA Agreement provides for the three small member countries to have access to South African capital and money...
Persistent link: https://www.econbiz.de/10014405576
Despite Mexico’s recent remarkable progress in adjusting its fiscal and external accounts and in restructuring its economy, the recovery of growth has remained elusive. This paper reviews some aspects of Mexico’s recent performance and suggests that systemic adjustment uncertainty, and...
Persistent link: https://www.econbiz.de/10014396459
This paper shows how growth and demography, two important determinants of the savings rate in the life-cycle approach …, explain a large part of the diversity in savings behavior in Asia across eight countries as well as over time. Inflation and … save. The paper also finds evidence in favor of the error-correction formulation under which the savings rate varies …
Persistent link: https://www.econbiz.de/10014396475
strengthening in domestic savings and rise in domestic investment permanent, auguring well for accelerated growth within a …
Persistent link: https://www.econbiz.de/10014400063
After narrowing modestly in 2013, the global scale of current account imbalances, and of excess imbalances, held steady in 2014. Over the last several years, while the country composition of imbalances has rotated somewhat, overall there has been little progress on reducing excess imbalances....
Persistent link: https://www.econbiz.de/10014408543
After narrowing in the aftermath of the global financial crisis and remaining broadly unchanged in recent years, global imbalances increased moderately in 2015, amid a reconfiguration of current accounts and exchange rates. Shifts in 2015 were driven primarily by the uneven strength of the...
Persistent link: https://www.econbiz.de/10014408606