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  • Author: George Mavrotas, Bazoumana Ouattara
  • Publication Date: 02-2003
  • Content Type: Working Paper
  • Institution: United Nations University
  • Abstract: The present paper examines the impact of different aid types, namely project aid, programme aid, technical assistance and food aid on the fiscal sector of the aid-recipient economy by using time-series data for Côte d'Ivoire over the period 1975–99. Empirical results obtained by estimating correctly the solution of the theoretical model show that when a single value (or aggregated) for aid is used, foreign aid is fully consumed in the case of Côte d'Ivoire. However, results obtained under the assumption of aid heterogeneity clearly suggest that the government responds differently according to the nature of the aid inflows. Our approach sheds plenty of light on how the aid-recipient government reacts to different categories of foreign aid inflows and the empirical findings clearly demonstrate the importance of the aid disaggregation approach for delving deeper into aid effectiveness issues.
  • Topic: Development, Economics, Emerging Markets, Non-Governmental Organization
  • Political Geography: Africa
  • Author: George Mavrotas, Samuel Manzele Maimbo
  • Publication Date: 02-2003
  • Content Type: Working Paper
  • Institution: United Nations University
  • Abstract: The paper explores the relationship between financial sector reforms and savings mobilization in Zambia. Although there exists an extensive literature on financial sector development and savings levels in developing countries, there does not seem to exist satisfactory work on the above nexus for sub-Saharan African countries, particularly Zambia. Along these lines, the paper examines the linkages between the financial reforms of the early 1990s and savings mobilization. It considers the characteristics of banks and non-bank financial institutions, especially micro finance institutions, and savings levels and identifies problems associated with the relatively poor performance of savings in recent years and concludes with a set of policy guidelines for strengthening savings mobilization, highlighting the expected effect on povertyreducing growth.
  • Topic: Development, Economics, Emerging Markets, International Trade and Finance
  • Political Geography: Africa, Nordic Nations
  • Author: George Mavrotas, Roger Kelly
  • Publication Date: 02-2003
  • Content Type: Working Paper
  • Institution: United Nations University
  • Abstract: The paper uses different measures of financial sector development for a dynamic heterogeneous panel of 17 African countries to examine the impact of financial sector development on private savings. An innovative econometric methodology is also employed related to a series of cointegration tests within a panel. This is an important contribution since traditional panel data analysis adopted in previous studies suffers from serious heterogeneity bias problems. The empirical results obtained vary considerably among countries in the panel, thus highlighting the importance of using different measures of financial sector development rather than a single indicator. The evidence is rather inconclusive, although in most of the countries in the sample a positive relationship between financial sector development and private savings seems to hold. The empirical analysis also suggests that a change in government savings is offset by an opposite change in private savings in most of the countries in the panel, thus confirming the Ricardian equivalence hypothesis. Liquidity constraints do not seem to play a vital role in most of the African countries in the group, since the relevant coefficient is negative and significant in only a small group of countries
  • Topic: Development, Economics, Emerging Markets, Poverty
  • Political Geography: Africa
  • Author: Tony Addison
  • Publication Date: 03-2003
  • Content Type: Policy Brief
  • Institution: United Nations University
  • Abstract: The period 1990-2000 saw 19 major armed-conflicts in Africa, ranging from civil wars to the 1998-2000 war between Eritrea and Ethiopia. Peace has been elusive, and the term 'post-conflict' is often a sad misnomer.
  • Topic: Conflict Resolution, Economics, Poverty
  • Political Geography: Africa, Ethiopia, Eritrea
  • Author: Clas Wihlborg
  • Publication Date: 02-2002
  • Content Type: Working Paper
  • Institution: United Nations University
  • Abstract: Insolvency and debt recovery procedures are as crucial to a well-performing financial sector as credit provision itself. They are even more important in Africa, where attempts are underway to create fully-fledged financial markets. For the financial system to be credible, creditors must be ensured that lenders will meet their obligations and that cases against them will be brought to closure. A good legal framework for insolvency also ensures distressed firms a form of orderly exit, thereby enabling their owners to start afresh. However, institutions of this nature take time to take effect, and need to be supported politically and by reforms in other sectors of the economy.
  • Topic: Development, Economics, Government
  • Political Geography: Africa
  • Author: Steve Kayizzi-Mugerwa
  • Publication Date: 01-2002
  • Content Type: Working Paper
  • Institution: United Nations University
  • Abstract: Although privatization has been a key feature of economic policy in Africa since the early 1990s its sequencing and intensity have varied from country to country, with donor leverage being an important determinant of the pace of implementation. However, although many privatization schemes were undertaken in response to donor demands for reduced government participation in business, the process soon achieved its own dynamics. The positive view of privatization suggests that it went ahead, in spite of domestic opposition, because politicians and bureaucrats perceived real benefits to themselves and their supporters. They could influence the sales to their own benefit, while, on the other hand, a more focused public sector improved service delivery.
  • Topic: Development, Economics, Government
  • Political Geography: Africa
  • Author: Youssoufou Congo
  • Publication Date: 01-2002
  • Content Type: Working Paper
  • Institution: United Nations University
  • Abstract: This study tests the performance of microfinance institutions (MFIs) in Burkina Faso using indicators such as the sustainable interest rate and the subsidy dependence index. The results indicate that MFIs outreach performance remains very low compared with potential demand, and the factors responsible appear to be both the refusal of most MFIs to mobilize local savings and the high costs of supply of microfinancial services. The results also show that MFIs are not viable and sustainable. Their interest rates are kept low and do not allow them to cover all the costs. In addition, the results indicate that MFIs are dependent on subsidies. However, the oldest MFIs and/or institutions providing deposit services have the lowest subsidy dependence index. It is suggested that more attention should be placed on savings mobilization and ceilings on interest rates should be removed in order to allow MFIs to charge sustainable interest rates.
  • Topic: Development, Economics
  • Political Geography: Africa
  • Author: Tony Addison
  • Publication Date: 10-1998
  • Content Type: Working Paper
  • Institution: United Nations University
  • Abstract: Reconstructing Africa's war damaged economies is an urgent task. This is especially so in a group of countries - Angola, Eritrea, Ethiopia, Guinea-Bissau, and Mozambique - which must also complete their economic and political transition from state socialism. Somalia, which shares their common history, must eventually be rebuilt. All of these countries must address their deep problems of underdevelopment and poverty. The challenges are therefore three-fold: to overcome underdevelopment, to make the transition from state socialism, and to reconstruct economies and societies.
  • Topic: Democratization, Development, Economics, Emerging Markets
  • Political Geography: Africa, Mozambique, Ethiopia, Somalia, Angola, Eritrea, Guinea-Bissau