Sub Saharan Africas Risk Perception Premium In The Search Of Missing Factors

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Sub-Saharan Africa’s Risk Perception Premium: In the Search of Missing Factors

Author : William Gbohoui
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Sub-Saharan Africa’s Risk Perception Premium: In the Search of Missing Factors by : William Gbohoui

Download or read book Sub-Saharan Africa’s Risk Perception Premium: In the Search of Missing Factors written by William Gbohoui and published by International Monetary Fund. This book was released on 2023-06-23 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers from the sub-Saharan Africa (SSA) region often flag a mispricing of their sovereign debt presumably originating from a perception risk by international investors that lead to "unjustifiably" high borrowing costs. Against this background, this paper explores the extent to which a potential SSA premium exists in the financial markets following a broader two-fold approach. Firstly, using a sample of 1592 international primary sovereign fixed coupon bonds issued between 2003-2021 from Bond Radar by 89 countries, we find that SSA countries pay significantly higher coupon at issuance compared to their peers from other regions. Secondly, we assess whether there is any bias against SSA countries in the secondary market that would result in higher refinancing cost. Based on an unbalanced panel of quarterly data covering 107 countries over 1990 – 2022, we find that SSA countries pay higher refinancing costs in the secondary market. The paper further explores whether there are other factors overlooked by the literature that matter for the risk pricing by international investors. In that respect, we explore the sensitivity of spreads to some structural dimensions where SSA countries face acute challenges―the transparency of budget process, the importance of the informal sector, the level of financial development, and the quality of public institutions. The results show that the excess premium estimated for SSA countries vanishes when these structural factors are accounted for in the regressions.

Risk and Africa

Author : Lena Bloemertz
Publisher : LIT Verlag Münster
ISBN 13 : 3643901577
Total Pages : 282 pages
Book Rating : 4.6/5 (439 download)

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Book Synopsis Risk and Africa by : Lena Bloemertz

Download or read book Risk and Africa written by Lena Bloemertz and published by LIT Verlag Münster. This book was released on 2012 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through a range of articles, this book explores the changing nature of risk in contemporary African societies. It provides a valuable addition to the current debate on the concept of risk, which has traditionally been skewed in favor of a European historical experience. The contributions illustrate that technological hazards, pollution, and climate change - as well as the introduction of new forms of insurance and the restructuring of civil society - are just some of the recent developments that invite us to be skeptical of prevailing notions of risk in the African context. The reader is encouraged to move away from focusing on the vulnerability of Africa as a pre-modern society to consider more localized and contemporary perspectives of risk. In exploring new ways of conceptualizing risk in Africa, the book addresses the challenge of making theoretical and methodological advances in risk research relevant to understanding the processes of social change on the continent. (Series: Articles on African Studies / Beitrage zur Afrikaforschung - Vol. 51)

Africa's Infrastructure

Author : World Bank
Publisher : World Bank Publications
ISBN 13 : 9780821380833
Total Pages : 382 pages
Book Rating : 4.3/5 (88 download)

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Book Synopsis Africa's Infrastructure by : World Bank

Download or read book Africa's Infrastructure written by World Bank and published by World Bank Publications. This book was released on 2009-12-01 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sustainable infrastructure development is vital for Africa s prosperity. And now is the time to begin the transformation. This volume is the culmination of an unprecedented effort to document, analyze, and interpret the full extent of the challenge in developing Sub-Saharan Africa s infrastructure sectors. As a result, it represents the most comprehensive reference currently available on infrastructure in the region. The book covers the five main economic infrastructure sectors information and communication technology, irrigation, power, transport, and water and sanitation. 'Africa s Infrastructure: A Time for Transformation' reflects the collaboration of a wide array of African regional institutions and development partners under the auspices of the Infrastructure Consortium for Africa. It presents the findings of the Africa Infrastructure Country Diagnostic (AICD), a project launched following a commitment in 2005 by the international community (after the G8 summit at Gleneagles, Scotland) to scale up financial support for infrastructure development in Africa. The lack of reliable information in this area made it difficult to evaluate the success of past interventions, prioritize current allocations, and provide benchmarks for measuring future progress, hence the need for the AICD. Africa s infrastructure sectors lag well behind those of the rest of the world, and the gap is widening. Some of the main policy-relevant findings highlighted in the book include the following: infrastructure in the region is exceptionally expensive, with tariffs being many times higher than those found elsewhere. Inadequate and expensive infrastructure is retarding growth by 2 percentage points each year. Solving the problem will cost over US$90 billion per year, which is more than twice what is being spent in Africa today. However, money alone is not the answer. Prudent policies, wise management, and sound maintenance can improve efficiency, thereby stretching the infrastructure dollar. There is the potential to recover an additional US$17 billion a year from within the existing infrastructure resource envelope simply by improving efficiency. For example, improved revenue collection and utility management could generate US$3.3 billion per year. Regional power trade could reduce annual costs by US$2 billion. And deregulating the trucking industry could reduce freight costs by one-half. So, raising more funds without also tackling inefficiencies would be like pouring water into a leaking bucket. Finally, the power sector and fragile states represent particular challenges. Even if every efficiency in every infrastructure sector could be captured, a substantial funding gap of $31 billion a year would remain. Nevertheless, the African people and economies cannot wait any longer. Now is the time to begin the transformation to sustainable development.

Resolving Nonperforming Loans in Sub-Saharan Africa in the Aftermath of the COVID-19 Crisis

Author : Luc Eyraud
Publisher : International Monetary Fund
ISBN 13 : 1513576518
Total Pages : 85 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Resolving Nonperforming Loans in Sub-Saharan Africa in the Aftermath of the COVID-19 Crisis by : Luc Eyraud

Download or read book Resolving Nonperforming Loans in Sub-Saharan Africa in the Aftermath of the COVID-19 Crisis written by Luc Eyraud and published by International Monetary Fund. This book was released on 2021-06-08 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sub-Saharan African countries are facing an unprecedented health and economic crisis that is likely to severely hurt credit quality and raise non-performing loans from already high levels. Banks have a critical role to play not only during the crisis by providing temporarily relief to businesses and households, but also during the recovery by supporting economic activity and facilitating the structural transformations engaged by the pandemic.

Private Finance for Development

Author : Hilary Devine
Publisher : International Monetary Fund
ISBN 13 : 1513571567
Total Pages : 161 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Private Finance for Development by : Hilary Devine

Download or read book Private Finance for Development written by Hilary Devine and published by International Monetary Fund. This book was released on 2021-05-14 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Covid-19 pandemic has aggravated the tension between large development needs in infrastructure and scarce public resources. To alleviate this tension and promote a strong and job-rich recovery from the crisis, Africa needs to mobilize more financing from and to the private sector.

Housing Market Dynamics in Africa

Author : El-hadj M. Bah
Publisher : Springer
ISBN 13 : 1137597925
Total Pages : 272 pages
Book Rating : 4.1/5 (375 download)

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Book Synopsis Housing Market Dynamics in Africa by : El-hadj M. Bah

Download or read book Housing Market Dynamics in Africa written by El-hadj M. Bah and published by Springer. This book was released on 2018-03-12 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book utilizes new data to thoroughly analyze the main factors currently shaping the African housing market. Some of these factors include the supply and demand for housing finance, land tenure security issues, construction cost conundrum, infrastructure provision, and low-cost housing alternatives. Through detailed analysis, the authors investigate the political economy surrounding the continent’s housing market and the constraints that behind-the-scenes policy makers need to address in their attempts to provide affordable housing for the majority in need. With Africa’s urban population growing rapidly, this study highlights how broad demographic shifts and rapid urbanization are placing enormous pressure on the limited infrastructure in many cities and stretching the economic and social fabric of municipalities to their breaking point. But beyond providing a snapshot of the present conditions of the African housing market, the book offers recommendations and actionable measures for policy makers and other stakeholders on how best to provide affordable housing and alleviate Africa’s housing deficit. This work will be of particular interest to practitioners, non-governmental organizations, private sector actors, students and researchers of economic policy, international development, and urban development.

Historical Perspectives on the State of Health and Health Systems in Africa, Volume II

Author : Mario J. Azevedo
Publisher : Springer
ISBN 13 : 3319325647
Total Pages : 288 pages
Book Rating : 4.3/5 (193 download)

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Book Synopsis Historical Perspectives on the State of Health and Health Systems in Africa, Volume II by : Mario J. Azevedo

Download or read book Historical Perspectives on the State of Health and Health Systems in Africa, Volume II written by Mario J. Azevedo and published by Springer. This book was released on 2017-01-24 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on Africa’s challenges, achievements, and failures over the past several centuries using an interdisciplinary approach that combines theory and fact and evidence-based practices and interventions in public health, and argues that most of the health problems in Africa are not a result of scarce or lack of resources, but of the misconceived and misplaced priorities that have left the continent behind every other on the globe in terms of health, education, and equitable distribution of opportunities and access to (quality) health as agreed by the United Nations member states at Alma-Ata in 1978.

Yes, Africa Can

Author : Punam Chuhan-Pole
Publisher : World Bank Publications
ISBN 13 : 0821387456
Total Pages : 497 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Yes, Africa Can by : Punam Chuhan-Pole

Download or read book Yes, Africa Can written by Punam Chuhan-Pole and published by World Bank Publications. This book was released on 2011-06-24 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: Takes an in-depth look at twenty-six economic and social development successes in Sub-Saharan African countries, and addresses how these countries have overcome major developmental challenges.

The Dry Forests and Woodlands of Africa

Author : Emmanuel N. Chidumayo
Publisher : Routledge
ISBN 13 : 1136531378
Total Pages : 294 pages
Book Rating : 4.1/5 (365 download)

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Book Synopsis The Dry Forests and Woodlands of Africa by : Emmanuel N. Chidumayo

Download or read book The Dry Forests and Woodlands of Africa written by Emmanuel N. Chidumayo and published by Routledge. This book was released on 2010-09-23 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dry forests and woodlands of Sub-Saharan Africa are major ecosystems, with a broad range of strong economic and cultural incentives for keeping them intact. However, few people are aware of their importance, compared to tropical rainforests, despite them being home to more than half of the continent's population. This unique book brings together scientific knowledge on this topic from East, West, and Southern Africa and describes the relationships between forests, woodlands, people and their livelihoods. Dry forest is defined as vegetation dominated by woody plants, primarily trees, the canopy of which covers more than 10 per cent of the ground surface, occurring in climates with a dry season of three months or more. This broad definition - wider than those used by many authors - incorporates vegetation types commonly termed woodland, shrubland, thicket, savanna, wooded grassland, as well as dry forest in its strict sense. The book provides a comparative analysis of management experiences from the different geographic regions, emphasizing the need to balance the utilization of dry forests and woodland products between current and future human needs. Further, the book explores the techniques and strategies that can be deployed to improve the management of African dry forests and woodlands for the benefit of all, but more importantly, the communities that live off these vegetation formations. Thus, the book lays a foundation for improving the management of dry forests and woodlands for the wide range of products and services they provide.

Global Burden of Disease and Risk Factors

Author : Alan D. Lopez
Publisher : World Bank Publications
ISBN 13 : 0821362631
Total Pages : 511 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Global Burden of Disease and Risk Factors by : Alan D. Lopez

Download or read book Global Burden of Disease and Risk Factors written by Alan D. Lopez and published by World Bank Publications. This book was released on 2006-04-02 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strategic health planning, the cornerstone of initiatives designed to achieve health improvement goals around the world, requires an understanding of the comparative burden of diseases and injuries, their corresponding risk factors and the likely effects of invervention options. The Global Burden of Disease framework, originally published in 1990, has been widely adopted as the preferred method for health accounting and has become the standard to guide the setting of health research priorities. This publication sets out an updated assessment of the situation, with an analysis of trends observed since 1990 and a chapter on the sensitivity of GBD estimates to various sources of uncertainty in methods and data.

Struggling to Make the Grade: A Review of the Causes and Consequences of the Weak Outcomes of South Africa’s Education System

Author : Mr.Montfort Mlachila
Publisher : International Monetary Fund
ISBN 13 : 1498301851
Total Pages : 61 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Struggling to Make the Grade: A Review of the Causes and Consequences of the Weak Outcomes of South Africa’s Education System by : Mr.Montfort Mlachila

Download or read book Struggling to Make the Grade: A Review of the Causes and Consequences of the Weak Outcomes of South Africa’s Education System written by Mr.Montfort Mlachila and published by International Monetary Fund. This book was released on 2019-03-01 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: While South Africa has made significant improvements in basic and tertiary education enrollment, the country still suffers from significant challenges in the quality of educational achievement by almost any international metric. The paper finds that money is clearly not the main issue since the South Africa’s education budget is comparable to OECD countries as a percent of GDP and exceeds that of most peer sub-Saharan African countries in per capita terms. The main explanatory factors are complex and multifaceted, and are associated with insufficient subject knowledge of some teachers, history, race, language, geographic location, and socio-economic status. Low educational achievement contributes to low productivity growth, and high levels of poverty, unemployment, and inequality. Drawing on the literature, the paper sketches some policy considerations to guide the debate on what works and what does not.

Consumer Price Index Manual, 2020

Author : Brian Graf
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781484354841
Total Pages : 509 pages
Book Rating : 4.3/5 (548 download)

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Book Synopsis Consumer Price Index Manual, 2020 by : Brian Graf

Download or read book Consumer Price Index Manual, 2020 written by Brian Graf and published by INTERNATIONAL MONETARY FUND. This book was released on 2020-11-19 with total page 509 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Consumer Price Index Manual: Concepts and Methods contains comprehensive information and explanations on compiling a consumer price index (CPI). The Manual provides an overview of the methods and practices national statistical offices (NSOs) should consider when making decisions on how to deal with the various problems in the compilation of a CPI. The chapters cover many topics. They elaborate on the different practices currently in use, propose alternatives whenever possible, and discuss the advantages and disadvantages of each alternative. The primary purpose of the Manual is to assist countries in producing CPIs that reflect internationally recommended methods and practices.

Realizing the Full Potential of Social Safety Nets in Africa

Author : Kathleen Beegle
Publisher : World Bank Publications
ISBN 13 : 1464811660
Total Pages : 418 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Realizing the Full Potential of Social Safety Nets in Africa by : Kathleen Beegle

Download or read book Realizing the Full Potential of Social Safety Nets in Africa written by Kathleen Beegle and published by World Bank Publications. This book was released on 2018-07-02 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: Poverty remains a pervasive and complex phenomenon in Sub-Saharan Africa. Part of the agenda in recent years to tackle poverty in Africa has been the launching of social safety nets programs. All countries have now deployed safety net interventions as part of their core development programs. The number of programs has skyrocketed since the mid-2000s though many programs remain limited in size. This shift in social policy reflects the progressive evolution in the understanding of the role that social safety nets can play in the fight against poverty and vulnerability, and more generally in the human capital and growth agenda. Evidence on their impacts on equity, resilience, and opportunity is growing, and makes a foundational case for investments in safety nets as a major component of national development plans. For this potential to be realized, however, safety net programs need to be significantly scaled-up. Such scaling up will involve a series of technical considerations to identify the parameters, tools, and processes that can deliver maximum benefits to the poor and vulnerable. However, in addition to technical considerations, and at least as importantly, this report argues that a series of decisive shifts need to occur in three other critical spheres: political, institutional, and fiscal. First, the political processes that shape the extent and nature of social policy need to be recognized, by stimulating political appetite for safety nets, choosing politically smart parameters, and harnessing the political impacts of safety nets to promote their sustainability. Second, the anchoring of safety net programs in institutional arrangements †“ related to the overarching policy framework for safety nets, the functions of policy and coordination, as well as program management and implementation †“ is particularly important as programs expand and are increasingly implemented through national channels. And third, in most countries, the level and predictability of resources devoted to the sector needs to increase for safety nets to reach the desired scale, through increased efficiency, increased volumes and new sources of financing, and greater ability to effectively respond to shocks. This report highlights the implications which political, institutional, and fiscal aspects have for the choice and design of programs. Fundamentally, it argues that these considerations are critical to ensure the successful scaling-up of social safety nets in Africa, and that ignoring them could lead to technically-sound, but practically impossible, choices and designs.

Tourism in Africa

Author : Iain Christie
Publisher : World Bank Publications
ISBN 13 : 1464801975
Total Pages : 325 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Tourism in Africa by : Iain Christie

Download or read book Tourism in Africa written by Iain Christie and published by World Bank Publications. This book was released on 2014-06-19 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents how tourism initiates economic development and how constraints to the growth of tourism in Sub-Saharan Africa can be addressed. With 24 case studies that illustrate tourism development, it reveals that despite destination challenges, the basic elements needed to initialize or intensify success are applicable across the region.

Banking in Africa: Delivering on Financial Inclusion, Supporting Financial Stability

Author : European Investment Bank
Publisher : European Investment Bank
ISBN 13 : 9286138482
Total Pages : 297 pages
Book Rating : 4.2/5 (861 download)

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Book Synopsis Banking in Africa: Delivering on Financial Inclusion, Supporting Financial Stability by : European Investment Bank

Download or read book Banking in Africa: Delivering on Financial Inclusion, Supporting Financial Stability written by European Investment Bank and published by European Investment Bank. This book was released on 2018-11-21 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: In its fourth edition, this report focuses on recent developments in Africa's banking sectors and the policy options for all stakeholders. The study of banking sectors across all African sub-regions includes the results of the EIB survey of banking groups operating in Africa. Three thematic chapters address challenges and opportunities for financing investment in Africa: Crowding out of private sector lending by public debt issuance The state of bank recovery and resolution laws in Africa Policy options on how to finance infrastructure development. The report finds that in many African banking markets, the last two years saw a pause in financial deepening. However, a rising share of banking groups report improving market conditions and plan a structural expansion of their operations in Africa and a continued push for new technologies.

Evolution of Exchange Rate Regimes

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451946945
Total Pages : 38 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Evolution of Exchange Rate Regimes by : International Monetary Fund

Download or read book Evolution of Exchange Rate Regimes written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-12-09 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.

Africa Investor Report 2011

Author : Mohamed Lamine Dhaoui
Publisher : UN
ISBN 13 :
Total Pages : 220 pages
Book Rating : 4.3/5 (126 download)

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Book Synopsis Africa Investor Report 2011 by : Mohamed Lamine Dhaoui

Download or read book Africa Investor Report 2011 written by Mohamed Lamine Dhaoui and published by UN. This book was released on 2012 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: The report has two key objectives - to identify "quality" foreign direct investment (FDI) and to seek an optimal allocation of scarce public funds in Africa by facilitating (largely through investment promotion agencies) the attraction of these investments. Close to 7000 firms (with 36% having foreign involvement) were interviewed in 19 Sub-Saharan African host countries. The report examines the impact of FDI on productivity, training, human capital, competition, employment, wages and trade (exports). The publication of this report is an important step forward in understanding FDI in Africa, its impact and its prospects. It is the start of a process that should see the valuable data that it introduces analyzed and reanalyzed.