Adjustment Costs, Irreversibility and Investment Patterns in African Manufacturing

Adjustment Costs, Irreversibility and Investment Patterns in African Manufacturing PDF Author: Mr.Arne Bigsten
Publisher: International Monetary Fund
ISBN: 1451852258
Category : Business & Economics
Languages : en
Pages : 54

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Book Description
This paper examines dynamic patterns of investment in Cameroon, Ghana, Kenya, Zambia and Zimbabwe, assessing the consistency of those patterns with different adjustment cost structures. Using survey data on manufactured firms, we document the importance of zero investment episodes and lumpy investment. The proportion of firms experiencing large investment spikes is significant in explaining aggregate manufacturing investment. Taken together, evidence from descriptive statistics, average investment regressions modeling the response to capital imbalance, and transition data analysis indicate that irreversibility is an important factor considered by firms when making investment plans. The picture is not unanimous however, and some explanations for the mixed results are proposed.

Adjustment Costs, Irreversibility and Investment Patterns in African Manufacturing

Adjustment Costs, Irreversibility and Investment Patterns in African Manufacturing PDF Author: Mr.Arne Bigsten
Publisher: International Monetary Fund
ISBN: 1451852258
Category : Business & Economics
Languages : en
Pages : 54

Get Book Here

Book Description
This paper examines dynamic patterns of investment in Cameroon, Ghana, Kenya, Zambia and Zimbabwe, assessing the consistency of those patterns with different adjustment cost structures. Using survey data on manufactured firms, we document the importance of zero investment episodes and lumpy investment. The proportion of firms experiencing large investment spikes is significant in explaining aggregate manufacturing investment. Taken together, evidence from descriptive statistics, average investment regressions modeling the response to capital imbalance, and transition data analysis indicate that irreversibility is an important factor considered by firms when making investment plans. The picture is not unanimous however, and some explanations for the mixed results are proposed.

Index to International Statistics

Index to International Statistics PDF Author:
Publisher:
ISBN:
Category : International agencies
Languages : en
Pages : 1028

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Book Description


Research Activities of the International Monetary Fund

Research Activities of the International Monetary Fund PDF Author: International Monetary Fund. Interdepartmental Working Group on Fund Policy Advice
Publisher:
ISBN:
Category :
Languages : en
Pages : 142

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Book Description


Research Summary

Research Summary PDF Author:
Publisher:
ISBN:
Category : Africa
Languages : en
Pages : 96

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Book Description


IMF Staff Papers, Volume 53, No. 3

IMF Staff Papers, Volume 53, No. 3 PDF Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1589065816
Category : Business & Economics
Languages : en
Pages : 183

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Book Description
This is the final issue for 2006 (Volume 53), and contains another paper in the occasional Special Data Section that seeks to measure financial development in the Middle East and North Africa by utilizing a new database. The issue also contains a comment from Jacques J. Polak on parity reversion in real exchange rates.

Africa and Development Challenges in the New Millennium

Africa and Development Challenges in the New Millennium PDF Author: J. O. Adésn
Publisher: Zed Books
ISBN: 9781842775950
Category : Business & Economics
Languages : en
Pages : 306

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Book Description
Publisher description

What Have We Learned from a Decade of Manufacturing Enterprise Surveys in Africa ?

What Have We Learned from a Decade of Manufacturing Enterprise Surveys in Africa ? PDF Author: Arne Bigsten
Publisher: World Bank Publications
ISBN:
Category : Business enterprises
Languages : en
Pages : 43

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Book Description
"In the early 1990s the World Bank launched the Regional Program on Enterprise Development in several African countries, a key component of which was the collection of manufacturing firm-level data. In this paper the authors review the research based on the data sets generated by these and subsequent firm surveys in Africa, with a special view to what they think are the most important policy implications. The authors survey the research on the African business environment, focusing on market size, risk, access to credit, labor, and infrastructure. They cover the research on how firms choose to organize themselves and how firms do business. They review the research on firm performance, including firm growth, investment and technology acquisition, and exports. They conclude with an extended discussion of the policy lessons. "--World Bank web site.

IMF-Supported Programs

IMF-Supported Programs PDF Author: Mr.Ashoka Mody
Publisher: International Monetary Fund
ISBN: 9781589063617
Category : Business & Economics
Languages : en
Pages : 184

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Book Description
Research work by the IMF’s staff on the effectiveness of the country programs the organization supports, which has long been carried out, has intensified in recent years. IMF analysts have sought to “open up the black box” by more closely examining program design and implementation, as well as how these influence programs’ effectiveness. Their efforts have also focused on identifying the lending, signaling, and monitoring features of the IMF that may affect member countries’ economic performance. This book reports on a large portion of both the new and the continuing research. It concludes that IMF programs work best where domestic politics and institutions permit the timely implementation of the necessary measures and when a country is vulnerable to, but not yet in, a crisis. It points to the need for a wider recognition of the substantial diversity among IMF member countries and for programs to be tailored accordingly while broadly maintaining the IMF’s general principle of uniformity of treatment.

Artha Suchi

Artha Suchi PDF Author:
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 238

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Book Description


Research Activities of the IMF, January 1991-December 1999

Research Activities of the IMF, January 1991-December 1999 PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781557759801
Category : Business & Economics
Languages : en
Pages : 144

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Book Description
Research activity in the IMF emphasizes the links between the organization's policy and operational concerns. The main objectives of research is IMF staff understanding of policy and operational issues relevant to the institution, and to improve the analytical quality of the work prepared for management and the Executive Board and the advice provided to member countries. The scope of research in the IMF is defined by the purposes and functions of the institution. In order to foster innovation and ensure quality control, the IMF makes much of its research available outside the institution and encourages staff to interact with academia and other research organizations through conferences, seminars, and occasional joint research projects. The visiting scholar’s program has also enhanced the quality of research done in the IMF. This program brings in leading members of the economics profession from around the world to assist in the preparation of papers for the Executive Board and to conduct research on IMF-related issues.