This paper investigates the channels through which remittances affect macroeconomic volatility in African countries using a dynamic stochastic general equilibrium (DSGE) model augmented with financial frictions. Empirical results indicate that remittances-as a share of GDP-have a significant...

Many countries in sub-Saharan Africa (SSA) have seen accelerated growth for an extended period of time since the mid-1990s, making a clear break with their long stagnant growth during the previous two decades. That said, the region faces significant challenges over the medium to long term,...

Although access to reliable electricity enables manufacturing companies to increase their output, there have been few studies of the distribution of output growth between export and domestic markets. Although some papers have examined the impact of electricity reliability on exports (in volume...

Sub-Saharan Africa's economic recovery is well under way, although among country groups there is variation in the speed of the recovery. In most of the region's low-income countries and among the seven oil exporters growth is almost back to precrisis levels. However, in the region's...

This study empirically analyzes the determinants of bond market development in a cross section of 23 sub-Saharan African (SSA) countries between 1990 and 2008. It considers the stage of development and the size of the bond market, as well as the historical, structural, institutional and...

This paper highlights selected recent developments in the economies of sub-Saharan Africa. It notes that the outlook for commodity prices has improved, and with it the outlook for economic activity beyond 1994; it also notes, however, the need for higher savings and investment to sustain growth over...