The paper agues that experience and empirical evidence have shown that Africa’straditional trade-focused model of regional integration has failed not only in promotingintra-regional and African trade but also economic growth. However, regional integrationremains a basic ingredient towards the...

This paper invokes a flow-of-funds framework toscope the challenges, opportunities and policyresponses regarding capital flows and capitalaccount liberalisation as Africa emerges fromthe global financial crisis. The framework is usedto highlight the transmission of the financial crisisfrom the...

The global economic crisis has definitelycaused a growth crisis in African economies.Growth rates have plummeted, withsome countries even experiencingcontraction. The crisis is hitting the keydrivers of growth, especially trade flows,capital inflows, natural resource sectors(oil and minerals)...

This paper examines the question of whetherinflation targeting monetary policy is anappropriate framework for sub-SaharanAfrican countries. The paper presents anoverview of inflation targeting, reviews thejustification for the regime, and summarizessome major critiques. Monetary policyresponses...

This policy-oriented paper presents and rationalizesshort-term policy responses to current crisisand long-term regulatory and financialreforms for post-crisis Africa. The analysis isconducted in the following sequence. It presentsreversals of gains in economic and financialsector performance...

The information and knowledge age is upon us due to rapid advances ininformation and communication technologies (ICTs). These new technologies arechanging the way we live and work, and they are transforming many aspects ofsocial and economic organization in ways we could have hardly imagined...

This paper considers modalities and mechanisms through which SMEs could forgehorizontal links between themselves and vertical linkages with larger manufacturingand service industries for increased market access, enhanced investment flows,skills development and technological advancements. Such...

The current account deficit in South Africa deteriorated from 0.1 percent of GDP in 2000 to 6.4 percent in 2006 and averaging 6.7 percent in the first half of 2007. Recently, there has been a growing concern of the ballooning deficit which warrants some discussion on its causes and...

This paper analyzes the dynamics of the youth labor market in Tunisia using unique labor force survey data from 2005 to 2007 that include a longitudinal component. It first shows that sustained economic growth will reduce youth unemployment over the next few years. Second, forecasts indicate...

Promotion de la réforme et de la participation du secteur privéLa force motrice de la réforme et de la participation du secteur privé dans l'infrastructurecomprennent : la pression sur les budgets de l'Etat et la nécessité de supprimer les subventionscompte tenu de la baisse des revenus;...