This study determines causal relationship between financial development and economic performance in Tanzania. The study employs cointegration and vector error correction model techniques. Granger causality test was applied to ascertain causation between financial development and economic...

Despite the significant academic interest in the economic cohesion, the various aspects of convergence and the ways they can be measured still remain theoretically unclear. These are issues of extreme political significance, especially for countries aspiring for EU and euro area membership. The...

This Selected Issues paper analyzes France's fiscal stance using a structural stochastic model. The theoretical model features a forward-looking benevolent government that needs to decide the optimal fiscal stance given the level of public debt, the cyclical position of the economy, and...

This study finds that uncertainties in interest rates, commodity prices and money aggregate affect economic outcomes for Germany. Both interest rate and monetary policy uncertainty measures are positively correlated with interest rates, while commodity price uncertainty is negatively correlated...

This Selected Issues paper reviews developments in health care spending in France and discusses the recent measures to improve the functioning of the system and contain costs. It argues that by addressing many of the issues that had bedeviled past reforms, the new measures offer a reasonable...