The economic performance of Sub-Saharan Africa (SSA) over the past two decades has been disappointing. The initial explanation for this poor performance focussed on deficient macroeconomic policies. However a number of SSA countries have undertaken and sustained a reasonable measure of macroeconomic reform and still see no significant expansion in the growth of manufactured exports. This sugges...

This paper reviews the monetary policy framework and implementation in Zambia since 1992. The paper argues that the thrust and orientation of monetary policy after 1992 has been towards market-based instruments of monetary control. In the process, it has been possible to reduce inflation from three-digit figures to an average of about 23 per cent over the past three years. However, formidable c...

In this paper, the sustainability of public debt is interpreted as the result of the interaction of fiscal policy with the economic environment, and not as a statistical concept as in most of the recent literature. If debt must not explode over time, policy makers have to respond to the changing conditions in the macroeconomic environment. This paper defines the conditions which will ensure com...

This paper presents the optimal strategic asset allocation for investors seeking to hedge inflation risk. Using a vector-autoregressive model, we investigate the optimal choice for an investor with a fixed target real return at different horizons, with shortfall probability constraint. We show that the strategic allocation differs sharply across regimes. In a volatile macroeconomic environment,...

The purpose of the article is to analyse key macroeconomic factors that determine general state and dynamics environment Ukraine in modern realities. methodological basis study generalisation results applied research field economics, scientific works, statistical data, which highlight some aspects development Ukrainian economy. Results. conditions economy forced operate against backdrop militar...

Background: In order to achieve development, there is a need to pay attention to corruption, violence and poverty of nations, which stems from the lack of economic ethics and business environment ethics. Fundamental elimination of corruption, violence and poverty of nations in line with the practical motivations of economic development will not be possible except with the growing link between e...

a r t i c l e i n f o Global slack hypothesis Inflation expectations Openness Small open economy DSGE model Korea This paper studies the implications of globalization for the dynamics of macroeconomic variables over the business cycle for a small open trade-dependent economy, such as South Korea. We study the impact of globalization through the lens of a structural model. Globalization is model...