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Islamic Finance in Sub-Saharan Africa: Status and Prospects
Gelbard, E.; Hussain, Mumtaz; Maino, Rodolfo; Mu, Yibin; … - International Monetary Fund (IMF) - 2014
microfinance. While not yet significant in most Sub-Saharan countries, several features make Islamic finance instruments relevant …
Persistent link: https://www.econbiz.de/10010959474
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Hierarchy and Authority in a Dynamic Perspective; A Model Applied to Donor Financing of NGO Proposals
Yontcheva, Boriana - International Monetary Fund (IMF) - 2003
This paper presents a dynamic game of strategic delegation between a principal and an agent. The principal can choose between two organizational designs: a traditional hierarchy where she retains authority over the choice of projects to be implemented or a delegation where she allows her agent...
Persistent link: https://www.econbiz.de/10005263678
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Trade, Inequality, and the Political Economy of Institutions
Levchenko, Andrei A.; Ão, Quı Toàn - International Monetary Fund (IMF) - 2006
We analyze the relationship between international trade and the quality of economic institutions, such as contract enforcement, rule of law, and property rights. In our model, firms differ in their preferences for institutional quality, which is determined endogenously in a political economy...
Persistent link: https://www.econbiz.de/10005599659
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Underlying Factors Driving Fiscal Effort in Emerging Market Economies
Baig, Taimur; Abiad, Abdul - International Monetary Fund (IMF) - 2005
Using a panel dataset of 34 emerging market countries for the period 1990-2002, we examine the roles of various economic, political, and institutional variables in determining fiscal effort, as proxied by the primary surplus. We find that while fiscal effort increases, as expected, with the...
Persistent link: https://www.econbiz.de/10005605145
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Institutions and the External Capital Structure of Countries
Mauro, Paolo; Faria, André - International Monetary Fund (IMF) - 2004
A widespread view holds that countries that finance themselves through foreign direct investment (FDI) and portfolio equity, rather than bonds and loans, are less prone to crises. But what determines countries' external capital structures? In a cross section of emerging markets and developing...
Persistent link: https://www.econbiz.de/10005825936
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Institutional Quality and International Trade
Levchenko, Andrei A. - International Monetary Fund (IMF) - 2004
The quality of institutions-meaning the quality of contract enforcement, property rights, shareholder protection, and the like-has received a great deal of attention in recent years. The purposes of this paper are twofold. First, it studies the consequences of trade when institutional...
Persistent link: https://www.econbiz.de/10005826594
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Do IMF Programs Improve Economic Governance?
Honda, Jiro - International Monetary Fund (IMF) - 2008
This paper examines the effects of IMF financial assistance on economic governance in developing countries, based on … panel data analyses of perceived governance indicators. It uses a two-stage approach to address possible endogeneity issues … governance. Specifically, the paper finds statistically robust results that IMF concessional programs through the Poverty …
Persistent link: https://www.econbiz.de/10005263964
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Does Openness Matter for Financial Development in Africa?
David, Antonio; Mlachila, Montfort; Moheeput, Ashwin - International Monetary Fund (IMF) - 2014
This paper analyzes the links between financial and trade openness and financial development in Sub-Saharan African (SSA) countries. It is based on a panel dataset using methods that tackle slope heterogeneity, cross-sectional dependence and non-stationarity, important econometric problems that...
Persistent link: https://www.econbiz.de/10010790350
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Global Financial Transmission into Sub-Saharan Africa – A Global Vector Autoregression Analysis
Kriljenko, Jorge Iván Canales; Hosseinkouchack, Mehdi; … - International Monetary Fund (IMF) - 2014
Sub-Saharan African countries are exposed to spillovers from global financial variables, but the impact on economic activity is more significant in more financially developed economies. Generalized impulse responses from a GVAR exercise demonstrate how the CBOE volatility index (VIX) and credit...
Persistent link: https://www.econbiz.de/10011142012
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Resource Dependence and Fiscal Effort in Sub-Saharan Africa
Thomas, Alun H.; Treviño, Juan P. - International Monetary Fund (IMF) - 2013
High natural resource prices in recent years have resulted in sizeable increases in fiscal revenue for many resource-exporting countries in sub-Saharan Africa. However, this revenue source is volatile, and arguably these countries should also rely on other forms of taxation to help fund public...
Persistent link: https://www.econbiz.de/10011142043