The paper suggests an econometric methodology for testing the effectiveness of reforms implemented in one major step, i.e., discrete reforms. The methodology is based on the exogeneity properties of variables in an econometric model. The paper specifies the preconditions for setting up an...

The paper reviews Djibouti's macroeconomic reforms aimed at achieving middle-income status as envisaged in Vision Djibouti 2035, the authorities' development strategy. In this context, the paper reviews policy options available to the authorities in three critical reform areas: translating the...

The paper suggests an econometric methodology for testing the effectiveness of reforms implemented in one major step, i.e., discrete reforms. The methodology is based on the exogeneity properties of variables in an econometric model. The paper specifies the preconditions for setting up an...