Since the early 1990s, many countries in sub-Saharan Africa have made significant progress in opening their economies to external competition through trade and currency liberalization. This paper analyzes trade and policy developments for 22 countries in eastern and southern Africa, looks at...

This paper discusses the salient features of recent developments and outlines the prospects for trade policy by highlighting the main issues that will determine the scope and timing of liberalization under a possible new General Agreement on Tariffs and Trade (GATT) round of multilateral trade...

Fiscal problems have long been considered a central feature of financial--that is, currency, debt, and banking--crises. This paper addresses four questions: What are the fiscal causes of crises? Which fiscal vulnerability indicators help to predict crises? Can fiscal variables explain the...