This paper is an attempt to identify the determinants of trust between country authorities and IMF staff in the context of an IMF-supported program. Using an outcomes-based definition of trust, a game-theoretic model is developed to compute the level of trust between the two parties. The results...

La théorie de l'endogénéité des Zones Monétaires Optimales (ZMO) a identifié deux canaux de justification ex-post du critère de synchronisation des cycles : l'intensité commerciale et la convergence budgétaire des pays membres. Dans ce papier, nous analysons dans une perspective...

The literature on Optimal Currency Areas (OCA) has identified several channels for the ex post justification of common monetary areas based on the synchronicity criterion. These include trade, cross-border investments, mobility of factors, mobility of goods and services, and fiscal convergence...

This paper is an attempt to identify the determinants of trust between country authorities and IMF staff in the context of an IMF-supported program. Using an outcomes-based definition of trust, a game-theoretic model is developed to compute the level of trust between the two parties. The results...

PRSP countries in Sub-Saharan Africa have shown strong signs of growth resilience in the aftermath of the recent global crisis. Yet, this paper finds evidence that growth has more than proportionately benefited the top quintile during PRSP implementation. It finds that PRSP implementation has...

Economic transformation and diversification require solutions that take account of the political economy of reform. This book explores the process of economic transformation, using Senegal as an example. Sound macroeconomic and fiscal policies are prerequisites for achieving this kind of...

This paper is an attempt to identify the determinants of trust between country authorities and IMF staff in the context of an IMF-supported program. Using an outcomes-based definition of trust, a game-theoretic model is developed to compute the level of trust between the two parties. The results...