The old days in the now transition societies were characterized by stagnant incomes, rationed goods, and few civil liberties, but a high degree of income security. The early days of reform have brought...
Sovereign debt: a primer. Modeling the macroeconomic effects of AIDS, with an application to Tanzania. A medium-term framework for analyzing the real exchange rate, with applications to the Philippines...
A competitive official real exchange rate is important to external balance and sustainable medium-term growth in developing countries. This article presents a methodology for estimating appropriate real...
The heavily indebted middle income countries have been participating in external debt restructuring episodes for a number of years. This paper examines the trends in the debt servicing profiles, both in...
Five years after the onset of the debt crisis, concern has arisen over the sustainability of the original financing strategy over the medium-term. One dimension of the problem that is being reexamined...
A key element in the resumption of sustainable growth for many developing countries currently facing balance of payment difficulties is the maintenance of a competitive real exchange rate. To give direction...
Analyses of the individual franc zone countries of sub-Saharan Africa generally indicate that the real exchange rate adjustment that has taken place to date is not sufficient to be consistant with healthy...
This paper discusses the sub-Saharan Africa external debt problem. While no clear solutions a discussion of the origin and development of the Africa debt problem points to some mistakes of the past that...
This paper synthesizes, updates and expands upon an earlier CPD Discussion Paper on the experiences with exchange auctions. One response to foreign exchange crises in a limited number of cases in the 1980s...
The foreign exchange crises facing many developing countries in the early 1980s resulted in various modifications to exchange rate regimes. One response in a limited number of cases has been the introduction...
This paper discusses the sub-Saharan Africa external debt problem. While no clear solutions a discussion of the origin and development of the Africa debt problem points to some mistakes of the past that...
The emphasis in this paper is on certain issues unique to the high-debt situation. Many countries in the late 1970's and early 1980's faced excess demand shocks, terms of trade shocks and supply shocks...
This paper analyses UMOA's (Union Monetaire de l'Afrique de l'Ouest) operations and its impact on the adjustment process. Importantly the currency of the union is pegged to the French franc, contributing...
This paper discusses the sub - Saharan African debt problem and is based on work done by the author in mid-1984 for the sub - Saharan Africa Development Report 1984. While this paper offers no clear solutions...