Ahmat Jidoud's Books

Remittances and Macroeconomic Volatility in African Countries

By: Ahmat Jidoud

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Remittances and Macroeconomic Volatility in African Countries

By: Ahmat Jidoud

This paper investigates the channels through which remittances affect macroeconomic volatility in African countries using a dynamic stochastic general equilibrium (DSGE) model augmented with financial frictions. Empirical results indicate that remittances—as a share of GDP—have a significant smoothing impact on output volatility but their impact on consumption volatility is somewhat small. Furthermore, remittances are found to absorb a substantial amount of GDP shocks in these countries. An investigation of the theoretical channels shows that the stabilization impact of remittances essentially hinges on two channels: (i) the size of the negative wealth effect on labor supply induced by remittances and, (ii) the strength of financial frictions and the ability of remittances to alleviate these frictions.

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International Monetary Fund

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ISBN 10

1498380743

ISBN 13

9781498380744

Financial Development in Sub-Saharan Africa

Promoting Inclusive and Sustainable Growth

By: Mr.Montfort Mlachila,Ahmat Jidoud,Ms.Monique Newiak,Bozena Radzewicz-Bak,Ms.Misa Takebe

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Financial Development in Sub-Saharan Africa

Promoting Inclusive and Sustainable Growth

By: Mr.Montfort Mlachila,Ahmat Jidoud,Ms.Monique Newiak,Bozena Radzewicz-Bak,Ms.Misa Takebe

This paper discusses how sub-Saharan Africa’s financial sector developed in the past few decades, compared with other regions. Sub-Saharan African countries have made substantial progress in financial development over the past decade, but there is still considerable scope for further development, especially compared with other regions. Indeed, until a decade or so ago, the level of financial development in a large number of sub-Saharan African countries had actually regressed relative to the early 1980s. With the exception of the region’s middle-income countries, both financial market depth and institutional development are lower than in other developing regions. The region has led the world in innovative financial services based on mobile telephony, but there remains scope to increase financial inclusion further. The development of mobile telephone-based systems has helped to incorporate a large share of the population into the financial system, especially in East Africa. Pan-African banks have been a driver for homegrown financial development, but they also bring a number of challenges.

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