Download e-book for kindle: New Partnership for Africa's Development: Macroeconomics, by Saleh M. Nsouli

By Saleh M. Nsouli

ISBN-10: 1589062620

ISBN-13: 9781589062627

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Additional resources for New Partnership for Africa's Development: Macroeconomics, Institutions, and Poverty

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What are the contingency provisions needed to address reform slippages or unforeseen shocks? How can the international community support NEPAD? • What should be the relation between NEPAD and other ongoing international initiatives? • How can cooperation between donors be improved? • Under what conditions will international support likely increase? 32 NORBERT FUNKE AND SALEH M. 1). ” The press at times has interpreted NEPAD as a kind of “Marshall Plan for Africa” (see Herbert, 2002). Unlike the Marshall Plan, however, NEPAD is not foreign-led; it is an African-owned initiative.

10Edwards (2001), Eichengreen and others (1998, 1999), and Ishii and Habermeier (2002), among others, analyze policy issues related to capital account liberalization. 40 NORBERT FUNKE AND SALEH M. NSOULI Analyzing empirically the determinants of FDI to developing countries, Asiedu (2002) shows that openness to trade promotes FDI, but that higher returns on investments appear to have no significant positive impact on FDI in sub-Saharan Africa. This may be because Africa’s small and vulnerable economies are considered to present high risk in the eyes of many international investors.

4 0 1 2 3 4 5 Index of institutional quality 6 Sources: World Bank; International Country Risk Guide; and IMF (2002c, p. 51). 7 8 The New Partnership for Africa’s Development 43 as institutions for the payment of unemployment benefits, or health- and pension-related institutions. Finally, institutions for conflict management include, for example, the rule of law and high-quality judiciary systems. The distinctions among these five types of institutions suggest that reform priorities differ from country to country, depending on the development of the various types of institutions.

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New Partnership for Africa's Development: Macroeconomics, Institutions, and Poverty by Saleh M. Nsouli


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