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Wednesday, November 11, 2020 | History

2 edition of Fiscal dominance and inflation in the Democratic Republic of the Congo found in the catalog.

Fiscal dominance and inflation in the Democratic Republic of the Congo

Jean-Claude Nachega

Fiscal dominance and inflation in the Democratic Republic of the Congo

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  • 29 Currently reading

Published by International Monetary Fund, African Dept. in [Washington, D.C] .
Written in English

    Subjects:
  • Fiscal policy -- Congo (Democratic Republic) -- Econometric models.,
  • Inflation (Finance) -- Congo (Democratic Republic)

  • Edition Notes

    Statementprepared by Jean-Claude Nachega.
    SeriesIMF working paper -- WP/05/221
    ContributionsInternational Monetary Fund. African Dept.
    The Physical Object
    Pagination42 p. :
    Number of Pages42
    ID Numbers
    Open LibraryOL21418790M

    Chapter 1 argues that fiscal policies are at the forefront of responding to the COVID pandemic. Fiscal measures can save lives, protect the most-affected people and firms from the economic impact of the pandemic, and prevent the health crisis from turning into a deep long-lasting slump. A key priority is to fully accommodate spending on. We expect growth to remain stable in , supported by resilient growth in ore exports (%). The mining industry should continue to attract private investment, which will remain stable % of GDP despite the changes brought by the mining code. On top of higher taxes and royalties, the code requires at least 10% of mining companies’ capital to be held by native citizens, and heavily. Keywords: Welfare, First order dominance, Democratic Republic of Congo, In , the rate of inflation was per cent above its level in Despite the overall positive turn of the economy, in , the DRC is ranked as a low income country with a GDP per capita of US$ and out of in the human development index (HDI.


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Fiscal dominance and inflation in the Democratic Republic of the Congo by Jean-Claude Nachega Download PDF EPUB FB2

Fiscal dominance (FD), the extent to which government deficits condition the growth of the money supply, has been the prevailing regime in the Democratic Republic of the Congo (DRC)’s monetary history since its independence in June Get this from a library. Fiscal dominance and inflation in the Democratic Republic of the Congo.

[Jean-Claude Nachega; International Monetary Fund. African Department,] -- This paper examines the fiscal dominance hypothesis in the Democratic Republic of the Congo (DRC) duringusing multivariate cointegration analysis and vector errorcorrection modeling.

Download Citation | Fiscal Dominance and Inflation in the Democratic Republic of the Congo | This paper contributes to the literature on the changing transmission mechanism of monetary policy by. Downloadable.

This paper examines the fiscal dominance hypothesis in the Democratic Republic of the Congo (DRC) duringusing multivariate cointegration analysis and vector errorcorrection modeling. Empirical results point to strong and statistically significant long-run relationships between budget deficits and seigniorage, and between money creation and inflation.

Nachega, Jean-Claude, Fiscal Dominance and Inflation in the Democratic Republic of the Congo (November ). IMF Working Paper, Vol., pp.Cited by:   This paper examines the fiscal dominance hypothesis in the Democratic Republic of the Congo (DRC) duringusing multivariate cointegration analysis and vector errorcorrection modeling.

Empirical results point to strong and statistically significant long-run relationships between budget deficits and seigniorage, and between money creation and by: 2. For a general overview of the main economic policy measures (fiscal, monetary and macroeconomic) taken by the Congolese government to limit the socio-economic impact of the COVID pandemic, please consult the section dedicated to Democratic Republic of Congo in.

The inflation rate in Republic of the Congo was recorded at percent in Fiscal dominance and inflation in the Democratic Republic of the Congo book of Inflation Rate in Republic of the Congo averaged percent from untilreaching an all time high of percent in December of and a record low of percent in January of This page provides - Republic of the Congo Inflation Rate - actual values, historical data, forecast.

Democracy in Deficit opened the door for much of the current work on political business cycles and the incorporation of public-choice considerations into macroeconomic theory.

Even in the area of monetarism, Buchanan's landmark work has greatly influenced the sway of contemporary theorists away from the nearly universally held belief of Keynesian theory. 1 day ago  Fiscal dominance occurs when fiscal policy — the borrowing and spending habits of a sovereign government — gets so out of control that fiscal policy "dominates" monetary policy.

DR Congo Economic Growth The economy is seen shrinking notably this year due to weaker activity in the all-important mining sector, pullback in foreign demand and lower base metal prices.

An increase in unemployment and underemployment, which, coupled with higher inflation, will erode household purchasing power and weigh heavily on consumption. Fiscal Dominance Fiscal dominance occurs when a national debt has reached levels such that a nation is unable to pay it down with taxes and requires monetary policy support in order to stay solvent.

In such a situation, it is difficult to control inflation because raising interest rates can make it impossible for the government to pay its debt. The inflation rate in Congo was recorded at percent in June of Inflation Rate in Congo averaged percent from untilreaching an all time high of percent in December of and a record low of percent in April of This page provides - Congo Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inthe average inflation rate in Democratic Republic of the Congo amounted to about percent compared to the previous year. current situation: The Democratic Republic of the Congo is a source, destination, and possibly a transit country for men, women, and children subjected to forced labor and sex trafficking; the majority of this trafficking is internal, and much of it is perpetrated by armed groups and rogue government forces outside official control in the.

Fiscal Dominance and Inflation in the Democratic Republic of the Congo Prepared by Jean-Claude Nachega1. By Jean-claude Nachega. Abstract. Authorized for distribution by Arend Kouwenaa Topics: Congo, inflation, fiscal policy. The inflation rate for consumer prices in the Democratic Republic of the Congo moved over the past 37 years between % %.

Foran inflation rate of % was calculated. During the observation period from tothe average inflation rate was % per year. The Democratic Republic of the Congo (DRC) is not considered an important regional financial center. Nevertheless, its porous borders, weak law enforcement, inadequate judicial system, dollarized economy, and dominant informal sector put the country and its financial system at risk of abuse by criminals seeking to launder money or finance.

After years of economic decline, conflict, and instability, the Democratic Republic of Congo achieved rapid economic growth in the s along with a reduction in rural consumption poverty. This chapter evaluates the extent to which recent growth has been accompanied by improvements in multidimensional child welfare using Arndt et al.’s first-order dominance approach applied to Multiple.

Author of Fiscal dominance and inflation in the Democratic Republic of the Congo, Economic growth and total factor productivity in Niger, A cointegration analysis of broad money demand in Cameroon, Financial liberalization, money demand, and inflation in Uganda.

The Democratic Republic of the Congo is named after the Congo River, which flows throughout the Congo River is the world's deepest river and the world's second-largest river by Comité d'études du haut Congo ("Committee for the Study of the Upper Congo"), established by King Leopold II of Belgium inand the International Association of the Congo.

Fiscal Dominance and Inflation in the Democratic Republic of the Congo. By Jean-Claude Nachega. Abstract. This paper examines the fiscal dominance hypothesis in the Democratic Republic of the Congo (DRC) duringusing multivariate cointegration analysis and vector errorcorrection modeling.

Empirical results point to strong and. The Democratic Republic of the Congo’s economic freedom score ismaking its economy the nd freest in the Index. Its overall score has decreased by point because of a huge drop. The Democratic Republic of the Congo boasts some of the most abundant natural resources on the planet.

With a strong economy, rich farmland and bountiful mineral wealth, the DRC is progressively building towards a brighter future. History. The country that began as a king’s private domain (the Congo Free State), evolved into a colony (the Belgian Congo), became independent in (as the Republic of the Congo), and later underwent several name changes (to the Democratic Republic of the Congo, then to Zaire, and back again to the Democratic Republic of the Congo) is the product of a complex pattern of historical forces.

The economy of the Republic of the Congo is a mixture of subsistence hunting and agriculture, an industrial sector based largely on petroleum extraction and support services, and government spending characterized by budget problems and overstaffing.

Petroleum has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports. The Republic of the Congo’s economic freedom score ismaking its economy the th freest in the Index. Its overall score has increased by points, with a modest gain in property.

The economy of the Democratic Republic of the Congo has declined drastically since the mids, despite being home to vast potential in natural resources and mineral wealth. At the time of its independence inthe Democratic Republic of the Congo was the second most industrialized country in Africa after South boasted a thriving mining sector and its agriculture sector was.

(shelved 1 time as democratic-republic-of-the-congo) avg rating — 1, ratings — published Want to Read saving. The economy of the Democratic Republic of the Congo - a nation endowed with vast natural resource wealth - continues to perform poorly.

Systemic corruption since independence incombined with countrywide instability and intermittent conflict that began in the earlys, has reduced national output and government revenue, and increased. Congo, Democratic Republic - Market OverviewCongo (DR) - Market Overview Discusses key economic indicators and trade statistics, which countries are dominant in the market, the U.S.

market share, the political situation if relevant, the top reasons why U.S. companies should consider exporting to this country, and other issues that affect trade, e.g., terrorism, currency devaluations, trade.

A stable, peaceful, and prosperous Democratic Republic of Congo prom-ises to have transformational impacts not only for the country’s 67 million citizens but also for the entire subregion. Indeed, the Democratic Republic of Congo is the largest country in Sub-Saharan Africa by land area and the third largest in population.

Democratic Republic of Congo fights dollarisation. Central Bank of the Democratic Republic of Congo releases new high-denomination banknotes; move signifies efforts to limit dollarisation in the country but also poses inflation risk 04 Jul   Democratic Republic of Congo’s President Joseph Kabila.

Planning for sustainable growth Kabila has vowed to continue guiding the Democratic Republic of Congo into the next phase of development by enforcing good governance and seeking to create a better environment, both for the Congolese people and foreign investors.

Jean-Claude Nachega, "Fiscal Dominance and Inflation in the Democratic Republic of the Congo," IMF Working Papers 05/, International Monetary es, Andreas, "Inflation and monetary policy in selected West and Central African countries," World Development, Elsevier, vol.

26(5), pagesiran, Chinna A., "Macroeconomic impacts of export. Democratic Republic of the Congo has had the highest financial sector > exchange rates and prices > GDP deflator > base year varies by country since Democratic Republic of the Congo ranked first for inflation > consumer price index > = amongst Christian countries in With a surface area equivalent to that of Western Europe, the Democratic Republic of Congo (DRC) is the largest country in Sub-Saharan Africa.

While its poverty rate has fallen slightly over the past two decades, particularly in rural areas, the DRC nonetheless. Fiscal Policies and Gender Equality Historically, women around the world have had fewer opportunities than men in education, employment, health care, and politics.

The moral argument for gender equality is clear, and the economic evidence is mounting. Fishing is carried on extensively along the rivers, but most of the catch is sold or bartered on the Democratic Republic of the Congo (DRC) side of the Ubangi River. Inthe government began a fish-farming program, and by the end of there were alm ponds.

The fish catch was ab tons. Get this from a library. Democratic Republic of the Congo: article IV consultation: staff report: press release: and statement by the Executive Director for the Democratic Republic of the Congo.

[International Monetary Fund.;] -- KEY ISSUES Context and outlook: Despite strong macroeconomic performance under the Fund- supported program () with economic activity steadily.

This paper performs a multidimensional first order dominance analysis of child wellbeing in the Democratic Republic of Congo (DRC). This methodology allows the ordinal ranking of the 11 provinces of the DRC in terms of their wellbeing based upon the probability of their domination.

This empirical application obviates the need to adopt a weighting scheme for the deprivation indicators or to.Republic of the Congo - Republic of the Congo - The colonial era: By the early 19th century, the Congo River had become a major avenue of commerce between the coast and the interior.

Henry Morton Stanley, a British journalist, explored the river inbut France acquired jurisdiction in when Pierre de Brazza signed a treaty with the Tio ruler.Congo, Democratic Republic - Market Overview Congo (DR) - Market Overview Discusses key economic indicators and trade statistics, which countries are dominant in the market, the U.S.

market share, the political situation if relevant, the top reasons why U.S. companies should consider exporting to this country, and other issues that affect trade, e.g., terrorism, currency devaluations, trade.