The Macroeconomics Of Scaling Up Aid
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The Macroeconomics Of Medium Term Aid Scaling Up Scenarios
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Author : Jan Gottschalk
language : en
Publisher: International Monetary Fund
Release Date : 2010-07-01
The Macroeconomics Of Medium Term Aid Scaling Up Scenarios written by Jan Gottschalk and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-01 with Business & Economics categories.
We develop a model to analyze the macroeconomic effects of a scaling-up of aid and assess the implications of different policy responses. The model features key structural characteristics of low-income countries, including varying degrees of public investment efficiency and a learning-by-doing (LBD) externality that captures Dutch disease effects. On the policy front, it distinguishes between spending the aid, which is controlled by the fiscal authority, and absorbing the aid - financing a higher current account deficit - which is influenced by the central bank's reserve accumulation policies. We calibrate the model to Uganda and run several experiments. We find that a policy mix that results in full spending and absorption of aid can generate temporary demand and real exchange rate appreciation pressures, but also have a positive effect on real GDP in the medium term, through higher public capital. Full spending with partial absorption, on the other hand, may stem appreciation pressures but can also induce adverse medium-term real GDP effects, through private sector crowding out. When aid is very inefficiently invested and there are strong LBD externalities, aid can be harmful, and partial absorption policies may be justified. But in this case, a welfare improving solution is to defer spending or - even better if possible - raise its efficiency.
Macroeconomic Challenges Of Scaling Up Aid To Africa
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Author : Yongzheng Yang
language : en
Publisher: International Monetary Fund
Release Date : 2006-03-20
Macroeconomic Challenges Of Scaling Up Aid To Africa written by Yongzheng Yang and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-03-20 with Business & Economics categories.
Over the next decade, African countries are expected to be the largest beneficiaries of increased donor aid, which is intended to improve their prospects for achieving the Millennium Development Goals. This handbook will help these countries assess the macroeconomic implications of increased aid and respond to the associated policy challenges. The handbook is directed at policymakers, practicing economists in African countries, and the staffs of international financial institutions and donor agencies who participate in preparing medium-term strategies for African countries, including in the context of poverty reduction strategy papers. It provides five main guidelines for developing scaling-up scenarios to help countries identify important policy issues involved in using higher aid flows effectively: to absorb as much aid as possible, to boost growth in the short to medium term, to promote good governance and reduce corruption, to prepare an exit strategy should aid levels decrease, and to regularly reassess the policy mix.
The Macroeconomics Of Scaling Up Aid
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Author : Mr.Andrew Berg
language : en
Publisher: IMF
Release Date : 2007-03-23
The Macroeconomics Of Scaling Up Aid written by Mr.Andrew Berg and has been published by IMF this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-03-23 with Business & Economics categories.
This study analyzes key issues associated with large increases in aid, including absorptive capacity, Dutch disease, and inflation. The authors develop a framework that emphasizes the different roles of monetary and fiscal policy and apply it to the recent experience of five countries: Ethiopia, Ghana, Mozambique, Tanzania, and Uganda. These countries have often found it difficult to coordinate monetary and fiscal policy in the face of conflicting objectives, notably to spend the aid money on domestic goods and to avoid excessive exchange rate appreciation.
The Macroeconomics Of Scaling Up Aid
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Author : International Working Group of Sovereign Wealth Funds
language : en
Publisher: International Monetary Fund
Release Date : 2008-09-19
The Macroeconomics Of Scaling Up Aid written by International Working Group of Sovereign Wealth Funds and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09-19 with Business & Economics categories.
In September 2007, the UN Secretary General launched the Millennium Development Goals (MDG) Africa Steering and Working Groups. The Steering Group brings together the leaders of multilateral institutions to identify practical steps needed for Africa to achieve the MDGs. The Managing Director of the IMF is a member of the Steering Group. The Working Group supports the Steering Group and is comprised of thematic groups in education, agriculture, health, infrastructure and trade facilitation, statistics, aid predictability, and MDG operationalization at the country level. The following three notes assess the macroeconomic implications of the spending of scaled-up aid to Benin, Niger, and Togo in line with that promised by the G-8 at Gleneagles, Scotland in 2005.
The Macroeconomics Of Scaling Up Aid
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Author : Issouf Samaké
language : en
Publisher: International Monetary Fund
Release Date : 2009-05
The Macroeconomics Of Scaling Up Aid written by Issouf Samaké and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-05 with Business & Economics categories.
The financial market turmoil of recent months has highlighted the importance of counterparty risk. Here, we discuss counterparty risk that may stem from the OTC derivatives markets and attempt to assess the scope of potential cascade effects. This risk is measured by losses to the financial system that may result via the OTC derivative contracts from the default of one or more banks or primary broker-dealers. We then stress the importance of "netting" within the OTC derivative contracts. Our methodology shows that, even using data from before the worsening of the crisis in late Summer 2008, the potential cascade effects could be very substantial. We summarize our results in the context of the stability of the banking system and provide some policy measures that could be usefully considered by the regulators in their discussions of current issues.
The Macroeconomics Of Scaling Up Aid
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Author : Joannes Mongardini
language : en
Publisher:
Release Date : 2005
The Macroeconomics Of Scaling Up Aid written by Joannes Mongardini and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Economic assistance categories.
The Macroeconomic Challenges Of Scaling Up Aid To Africa
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Author : Yongzheng Yang
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2005-09-01
The Macroeconomic Challenges Of Scaling Up Aid To Africa written by Yongzheng Yang and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-09-01 with categories.
This paper surveys the economic literature on the scaling-up of aid to Africa. It provides a checklist of issues that need to be considered when preparing a long term macroeconomic projection for a country involving the assumption of a significant increase in aid. Such scaling-up scenarios are most likely to be developed in the context of a country's efforts to achieve the Millennium Development Goals (MDGs) with the support of the international donor community. The paper stresses that when preparing a scaling-up scenario it is critical to have a detailed understanding of the likely use of additional aid flows.
The Macroeconomic Challenges Of Scaling Up Aid To Africa
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Author : Yongzheng Yang
language : en
Publisher: International Monetary Fund
Release Date : 2006
The Macroeconomic Challenges Of Scaling Up Aid To Africa written by Yongzheng Yang and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
Over the next decade, African countries are expected to be the largest beneficiaries of increased donor aid, which is intended to improve their prospects for achieving the Millennium Development Goals. This handbook will help these countries assess the macroeconomic implications of increased aid and respond to the associated policy challenges. the handbook is directed at policymakers, practicing economists in African countries, and the staffs of international financial institutions and donor agencies who participate in preparing medium-term strategies for African countries, including in the context of poverty reduction strategy papers. It provides five main guidelines for developing scaling-up scenarios to help countries identify important policy issues involved in using higher aid flows effectively: to absorb as much aid as possible, to boost growth in the short to medium term, to promote good governance and reduce corruption, to prepare an exit strategy should aid levels decrease, and to regularly reassess the policy mix.
Money Isn T Everything
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Author : Mr.Todd D. Mattina
language : en
Publisher: International Monetary Fund
Release Date : 2006-08-01
Money Isn T Everything written by Mr.Todd D. Mattina and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-08-01 with Business & Economics categories.
This paper outlines the challenge of developing an operational macroeconomic framework in Ethiopia consistent with the large envisaged scaling up of aid to achieve the Millennium Development Goals (MDGs). This paper describes an MDG scenario that addresses both microeconomic and macroeconomic constraints, such as the need to boost sustainable growth, limit Dutch disease, formulate an exit strategy from aid dependency, enhance public financial management (PFM), and expand the supply of skilled labor. The paper will argue that a carefully sequenced MDG strategy is essential so that the scaled-up aid and public spending will remain in line with Ethiopia's absorptive capacity.
Walking A Fine Line
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Author : Ms.Malangu Kabedi-Mbuyi
language : en
Publisher: International Monetary Fund
Release Date : 2016-04-11
Walking A Fine Line written by Ms.Malangu Kabedi-Mbuyi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-11 with Business & Economics categories.
This paper analyzes the macroeconomics of scaling up public investment in Burkina Faso under alternative financing options, including through foreign aid and a combination of tax adjustment and borrowing. Our findings are twofold: (1) raising official development assistance in line with the Gleneagles agreement provides scope for financing public investment at low cost and would have positive, but somewhat moderate, effects on aggregate output—the growth dividends in the nontradables sector would be partially offset by the Dutch disease in the tradables sector; and (2) the massive investment scaling-up contemplated under Burkina Faso’s “accelerated growth” strategy, while boosting medium- and long-term growth, would lead to unsustainable debt dynamics under a plausible tax adjustment and realistic concessional financing. A more gradual approach to closing Burkina Faso’s infrastructure gap is therefore desirable because it would take into account the needed time for the country to address its capacity constraints and to further improve investment efficiency.