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Showing all content in Macro Economics
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Blog post
US foreign aid: How is it spent?
Angus Deaton argues that 3-5 million Americans are “as destitute as the world’s poorest people”, and wants us to adjust aid spending accordingly. His argument has flaws: he mixes data and ignores the fact that the US is already spending a lot more domestically than abroad. In late January 2018, Angus Deaton, 2015 Nobel Prize winner for his work on welfare and...
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Publication - Working Paper
A growth vent anchored in history and geography
This paper reviews Pakistan’s recent growth vents and their impact on the economy in terms of creating a vibrant Indus Basin market. It then argues that the new growth vent Pakistan seeks requires re-creating the historical trade routes. This will be beneficial for regional equity in Pakistan and give new energy to the Indus Basin market. Please contact the author...
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Project
Robust quarterisation of GDP and determination of business cycles for IGC partner countries
Tracking of business cycle (BC) turning points at high data dissemination frequency (e.g. quarterly) is important for ex-ante policy implementation and ex-post analysis of the economy. The magnitude, direction and dating of the turning points in a business cycle contains valuable information for policy makers and economic researchers alike. It is well established in...
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Blog post
Proceed with caution: South Sudan and the East African Monetary Union
South Sudan's accession into the East African Community signals a strong commitment to regional integration. Greater stability after the conflict will however depend upon a renewed focus on stable macroeconomic policy and fiscal discipline. Peace and macroeconomic stability, first In September 2016, South Sudan deposited its accession instruments to the East African...
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Project
The twin deficits hypothesis in developing countries: Empirical evidence for Ghana
The importance of fiscal discipline and having a current account close to equilibrium for macroeconomic stability and sustained economic growth of countries is unquestionable. Persistent fiscal and current account deficits, if unattended, could extend beyond one country (or region) and lead to global financial instability and possibly an economic crisis with dire...
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Event
Report Launch: Promoting Job-rich Urbanisation in Zambia
The primary objective of the event was to present and discuss the results from a study titled “Promoting Job-rich Urbanization in Zambia" conducted by Just-Jobs Network (JJN) in collaboration with Zambia Institute for Policy Analysis and Research (ZIPAR) and IGC. This paper aimed to identify the mix of policies would maximize the prospects of ‘good’ urbanization...
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Blog post
Africa needs smart macroeconomic policies to navigate headwinds
African governments must take decisive action to navigate the challenges ahead if they are to continue growing without undoing the gains of the past two decades. Effective policies for growth will require regulators and policymakers to make tough choices, particularly on tax and government expenditures. When African finance ministers and central bankers gathered in...
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Publication - Policy note
African governments must act decisively to restore macroeconomic balance
African finance ministers and central bankers gathered in Washington DC last week for the IMF and World Bank Spring Meetings in circumstances far removed from the warm glow of economic success surrounding the “Africa Rising” conference in Maputo, less than two years ago. With the IMF continuing to peg back its growth forecasts for the region, as the hostile...
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Publication - Working Paper
On the causes and effects of exchange rate volatility on economic growth: Evidence from Ghana
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Publication - Project Memo
Monetary policy effectiveness in inflation control and stabilisation (Project Memo)