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: South Africa’s public debt has tripled since the global financial crisis and is not expected to stabilize over the medium term under staff’s baseline. Cross-country evidence suggests that fiscal rules anchored in debt ceilings can be helpful i...
South Africa's economic growth has stagnated over the past decade due to entrenched structural rigidities. This paper examines the impact of reforms addressing shortcomings in governance, business regulation, and labor market on output and emp...
: This paper highlights the role of teacher training in improving educational outcomes in Madagascar. With a low and stagnating Human Capital Index of 0.39 and high learning poverty rates, economic growth is hindered by an inadequately skilled w...
Domestic sovereign bonds have become a growing source of government financing in Emerging Market and Developing Economies (EMDEs). This paper investigates the role of fiscal policies in determining domestic bond yields, and how this relationship...
: We study the behavior of Covered Interest Parity (CIP) deviations – aka the CIP basis - in Emerging Markets (EM). A major challenge in computing the CIP basis in EM’s lies in measuring local currency interest rates which are free of local cred...