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15/12/2011 Working Paper 143 - Does Good Governance Create Value for International Acquirers in Africa: Evidence from us Acquisitions
Mergers and acquisitions (M&A) remain a highly popular form of corporate reorganization and growth, globally and in Africa. Over the last two decades, there has been a dramatic rise in the number of acquisitions of African...Read more
Authors:Thouraya Triki, Olfa Maalaoui Chun
09/12/2011 Working Paper 142 - Africa’s Quest for Development: Can Sovereign Wealth Funds Help?
Sovereign Wealth Funds (SWFs) have emerged as potential solutions to actively manage foreign reserves accumulated from commodity sales or strong exports. They correspond to government-owned investment vehicles managed by a...Read more
Authors:Thouraya Triki, Issa Faye
01/12/2011 Working Paper 141 - Always Late: Measures and Determinants of Disbursement Delays at the AfDB
At the African Development Bank, a number of analyses have pointed to long delays at project start-up as one of the main impediments to the performance of development operations in Africa (lengthy delays in signing loan...Read more
Authors:G.B.Nkamleu, I.Tourino, J.Edwin
28/11/2011 Working Paper 140 - Development Aid and Access to Water and Sanitation in Sub-Saharan Africa
The principal objective of this study is to compare countries’ performance in the water and sanitation sector and to analyse how effectively they used the associated development aid. Specifically, the paper addresses the...Read more
Authors:A.Salami, M.Stampini, A.Kamara, C.Sullivan, R.Namara
28/11/2011 Working Paper 139 - The Macroeconomic Impact of Higher Capital Ratios on African Economies
Africa escaped the recent global financial crisis relatively unscathed. While the region could not avoid the spill-over effects of the ensuing global economic downturn, its banking sector proved generally resilient. This was...Read more
Authors:Giovanni Caggiano, Pietro Calice
28/11/2011 Working Paper 138 - Economic Policy and Institutional Factors in the Development of Domestic Bond Markets in the CFA Zone
In this study, we are particularly interested in domestic bond market development as a source of financing for States. Relatively recent economic literature provides little analysis and empirical work on determinants of domestic...Read more
Authors:Cédric Achille Mbeng Mezui
20/09/2011 Working Paper 137 - Does Aid Unpredictability Weaken Governance? New Evidence from Developing Countries
The objective of this paper is to revisitate the effects of aid on governance from a different perspective. It explicitly introduces the potential increase in corruption in recipient countries resulting from aid unpredictability...Read more
Authors:Thierry Kangoye
19/09/2011 Working Paper 136 - Determinants of Foreign Direct Investment Inflows to Africa, 1980-2007
This paper examines the factors that determine FDI flows to African countries. FDI plays an important role in Africa’s development efforts, including: supplementing domestic savings, employment generation and growth, integration...Read more
Authors:John C. Anyanwu

Categories: Financial Crisis

12/08/2011 Working Paper 135 - International Remittances and Income Inequality in Africa
The purpose of this paper is to examine the impact of international remittances on income inequality in African countries during the economic crisis. As a consequence of the global economic crisis substantial slowdown in the...Read more
Authors:John C . Anyanwu
11/08/2011 Working Paper 134 - Inflation Targeting, Exchange Rate Shocks and Output: Evidence from South Africa
In February 2010, the mandate of the South African Reserve Bank (SARB) was clarified with emphasis on taking a balanced approach, which considers economic growth when monetary policy authorities set interest rates. In the...Read more
Authors:Mthuli Ncube, Eliphas Ndou
25/06/2011 Working Paper 133 - Monetary Policy Transmission, House Prices and Consumer Spending in South Africa: An SVAR Approach
The study used a structural vector autoregressive approach to estimate and quantify the percentage decline in consumption expenditure, which can be attributed to changes in housing wealth, after monetary policy tightening. The...Read more
Authors:Mthuli Ncube, Eliphas Ndou
24/06/2011 Working Paper 132 - Manganese Industry Analysis: Implications for Project Finance
This paper analyzes the global manganese value chain, with the objective of understanding types and sources of project finance, and the role of development finance institutions (DFIs). This industry is of interest given the...Read more
Authors:O.Gajigo, E.Mutambatsere, E.Adjei
23/06/2011 Working Paper 131 - Linking Research to Policy: The AfDB as Knowledge Broker
The main objectives of the paper are to discuss the Bank’s catalytic role as a “Knowledge Broker” that can actively translate, disseminate and share information to key stakeholders to provide timely and relevant advice to clients...Read more
Authors:Basil Jones

Categories: Financial Crisis

23/06/2011 Working Paper 130 - Growth and Macroeconomic Convergence in Southern Africa
The objective of this study is to assess whether the formation of the Southern African Development Community (SADC) in 1992 has led to (i) convergence in real income or “catch- up” growth across the countries within the region or...Read more
Authors:Wolassa L. Kumo
23/06/2011 Working Paper 127 - Chinese Infrastructure Investments and African Integration
This paper goes beyond the standard approach of only focusing on Chinese infrastructure investment and its impact on African integration. It discusses how African countries could work together adopt common policy issues towards...Read more
Authors:Richard Schiere, Alex Rugamba
23/06/2011 Working Paper 125 - China and Africa: An Emerging Partnership for Development? - An Overview of Issues
China’s phenomenal growth offers an opportunity to boost Africa’s development.  China’s loans and concessional assistance have financed a wide range of development projects on the continent. China also is reaping significant...Read more
Authors:Richard Schiere

Categories: China, Partnerships

23/06/2011 Working Paper 124 - Post-Crisis Prospects for China-Africa Relations
This paper discusses how China’s relationship with Africa is contributing to its overall development and emphasizes the central role of the Forum on China-Africa Cooperation (FOCAC). The principal conclusion is that while China...Read more
Authors:Jing Gu, Richard Schiere

Categories: China, Financial Crisis

23/06/2011 Working Paper 126 - China’s Trade and FDI in Africa
This paper analyzes the different impacts of China on Africa, quantifies the advantages and disadvantages, and policy suggestions necessary to maximize the development impact of China. One overriding consideration is that reaping...Read more
Authors:Mary-Françoise Renard
23/06/2011 Working Paper 128 - China’s Manufacturing and Industrialization in Africa
The objective of this paper is to examine the state of industrialization in Africa and to discuss the interactions between China’s growth and African development. African nations are linked to China through that country’s...Read more
Authors:Ron Sandrey, Hannah Edinger
23/06/2011 Working Paper 129 - China’s Engagement and Aid Effectiveness in Africa
This paper has considers the impact of China’s engagement in Africa for African economic development. Due to a lack of good information, we have attempted to analyze this engagement using indirect methods. Chinese aid, finance,...Read more
Authors:Jean Claude Berthelemy