This paper uses a panel cointegration analysis to examine the long-run relationship between economic growth and four different types of private capital inflows (cross-border bank lending, foreign direct investment (FDI), bonds flows and portfolio equity flows) on a sample of selected sub-Saharan...

This paper studies the link between financial development and economic growth in the West African Economic and Monetary Union (WAEMU). It finds that while financial development does support growth in the region, long-term bank financing has a greater impact on economic growth than short-term...

The growing emphasis on rural small and medium size entrepreneurship for economic development, especially in the context of poverty alleviation in developing countries has thrown up some major challenges for the commercial ventures led by women in global perspective. The position of women, even in...

This paper investigates the effects of international remittances on poverty incidence and severity in Ghana. Using both cross section data from Ghana Living Standards Survey wave 5 (GLSS5) and pseudo-panel data constructed from GLSS3-GLSS5 and a GMM pseudo-panel estimator, we find that...

Several theoretical studies suggest that price inflation targeting is the right design for a monetary policy. Experiences of several inflation targeters in the 1990s motivate this result. In particular, those countries attained substantial decline in output, inflation and interest rate fluctuations...

This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the authors and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the authors and are published to elicit...

First, I present an overview of major similarities and differences between the GCC countries and South Africa. Second, I describe South Africa’s trade with the Arab Gulf by examining South Africa and GCC’s major traded commodities and South Africa’s trade with its major trading partners and with...

In the December 2007 African Development Bank (AfDB) Report on its project portfolio to the Board of Directors, it is shown that the average delay between the Board approval of an investment project and the first disbursement is around 24 months. The literature is almost silent on the analysis of...