Nkunde Mwase's Books

BRICs’ Philosophies for Development Financing and their Implications for LICs

By: MissNkunde Mwase,Yongzheng Yang

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BRICs’ Philosophies for Development Financing and their Implications for LICs

By: MissNkunde Mwase,Yongzheng Yang

Flows of development financing from the BRICs (Brazil, Russia, India, and China) to low income countries (LICs) have surged in recent years. Unlike aid from traditional donors, BRICs (excluding Russia) view their financing as primarily based on the principles of South-South cooperation, focusing on mutual benefits without attachment of policy conditionality. This paper provides an overview of the philosophies and modalities of BRIC financing and examines their implications for LIC economies and future LIC-BRIC engagement.

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International Monetary Fund

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ISBN 10

147553129X

ISBN 13

9781475531299

The Economic Impact of IMF-Supported Programs in Low-Income Countries

By: Yasemin Bal-Gunduz,Mr. Christian Ebeke,Ms. Burcu Hacibedel,Ms. Linda Kaltani,Ms. Vera V Kehayova,Mr. Chris Lane,Mr. Christian Mumssen,Nkunde Mwase,Mr. Joseph Thornton

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The Economic Impact of IMF-Supported Programs in Low-Income Countries

By: Yasemin Bal-Gunduz,Mr. Christian Ebeke,Ms. Burcu Hacibedel,Ms. Linda Kaltani,Ms. Vera V Kehayova,Mr. Chris Lane,Mr. Christian Mumssen,Nkunde Mwase,Mr. Joseph Thornton

This paper aims to assess the economic impact of the IMF’s support through its facilities for low-income countries. It relies on two complementary econometric analyses: the first investigates the longer-term impact of IMF engagement—primarily through successive medium-term programs under the Extended Credit Facility and its predecessors (and more recently the Policy Support Instrument)—on economic growth and a range of other indicators and socioeconomic outcomes; the second focuses on the role of IMF shock-related financing—through augmentations of Extended Credit Facility arrangements and short-term and emergency financing instruments—on short-term macroeconomic performance.

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INTERNATIONAL MONETARY FUND

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ISBN 10

1475559038

ISBN 13

9781475559033

The Growth Comeback in Developing Economies

A New Hope or Back to the Future?

By: Mr.John C Bluedorn,Rupa Duttagupta,Mr.Jaime Guajardo,MissNkunde Mwase

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The Growth Comeback in Developing Economies

A New Hope or Back to the Future?

By: Mr.John C Bluedorn,Rupa Duttagupta,Mr.Jaime Guajardo,MissNkunde Mwase

Growth takeoffs in developing economies have rebounded in the past two decades. Although recent takeoffs have lasted longer than takeoffs before the 1990s, a key question is whether they could unravel like some did in the past. This paper finds that recent takeoffs are associated with stronger economic conditions, such as lower post-takeoff debt and inflation levels; more competitive real exchange rates; and better structural reforms and institutions. The chances of starting a takeoff in the 2000s was triple that before the 1990s, with domestic conditions accounting for most of the increase. The findings suggest that if today’s dynamic developing economies sustain their improved policies; they are more likely to stay on course compared to many of their predecessors.

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International Monetary Fund

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ISBN 10

1484358864

ISBN 13

9781484358863

Revisiting the Concept of Dollarization

The Global Financial Crisis and Dollarization in Low-Income Countries

By: MissNkunde Mwase,Mr.Francis Y. Kumah

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Revisiting the Concept of Dollarization

The Global Financial Crisis and Dollarization in Low-Income Countries

By: MissNkunde Mwase,Mr.Francis Y. Kumah

The economic literature has examined deposit dollarization in nominal terms, typically focusing on the ratio of foreign currency deposits to broad money. However, while private agent demand for foreign currency may remain unchanged in foreign currency terms, there could be large fluctuations in the dollarization ratio simply due to exchange rate movements. This paper proposes a new approach to measuring dollarization that removes these exchange rate effects, and demonstrates that beyond the variance of inflation and depreciation, the level of inflation and size of depreciation also matter for dollarization. While dollarization in nominal terms surged during the recent global financial crisis, there was a downward trend in real terms. Employing a set of econometric estimators, this paper investigates whether “real” dollarization during 2006–09 was associated with the crisis, and the role of initial macroeconomic conditions, quality of institutions, risk aversion, and prudential measures. We find that exchange rate appreciation and reductions in sovereign risk do moderate dollarization; but the results for global volatility have low statistical significance, perhaps because global shocks tend to preserve, to a large extent, relative attractiveness of foreign assets. Nonetheless, estimated impulse-response functions point to a large but short-lived positive impact of global volatility on dollarization, which could reflect economic agents heightened concerns about spillover effects of global uncertainty on the domestic economy.

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International Monetary Fund

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ISBN 10

1498324924

ISBN 13

9781498324922

Creating Policy Space in Low-Income Countries during the Recent Crises

By: Paolo Dudine,Sibabrata Das,Ms. Pritha Mitra,Yongzheng Yang,Eteri Kvintradze,Nkunde Mwase

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Creating Policy Space in Low-Income Countries during the Recent Crises

By: Paolo Dudine,Sibabrata Das,Ms. Pritha Mitra,Yongzheng Yang,Eteri Kvintradze,Nkunde Mwase

Low-income countries were hit especially hard by sharp increases in world food and fuel prices in 2007-08 and the global financial crisis that followed. In response, the International Monetary Fund scaled up its financial assistance to low-income countries and revamped its concessional lending facilities to make them more flexible in meeting the diverse needs of these countries. Creating Policy Space in Low-Income Countries during the Recent Crises assesses empirically the outcome of the IMF response, and provides insight into how IMF-supported programs in low-income countries have been adapted to the changing economic circumstances in these countries. The authors report that these programs have provided expanded policy space in the face of the global price shocks and financial crisis.

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International Monetary Fund

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ISBN 10

1451990022

ISBN 13

9781451990027

Revisiting Tourism Flows to the Caribbean

What is Driving Arrivals?

By: Ms.Nicole Laframboise,MissNkunde Mwase,Mr.Joonkyu Park,Yingke Zhou

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Revisiting Tourism Flows to the Caribbean

What is Driving Arrivals?

By: Ms.Nicole Laframboise,MissNkunde Mwase,Mr.Joonkyu Park,Yingke Zhou

The Caribbean share of the global tourism market has been declining. This study examines what is driving tourism flows. It estimates the determinants of tourism and explores variations based on sample differences, and also constructs a static nominal price comparison index. The paper finds that: (i) tourism arrivals and expenditure are sensitive to both price and income factors in source markets; (ii) price and income elasticities of tourism have declined since 2008; (iii) price elasticity is statistically insignificant for “high-end” destinations; and (iv) the nominal cost of an average one week beach holiday in the Caribbean is higher than in other beach destinations around the world. These results point to the need for structural reforms to raise product quality, cost reduction or containment in “low-end” destinations, including possibly via exchange rates, and an adjustment in aggregate consumption to adapt to the implications of a lower contribution to GDP from tourism.

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International Monetary Fund

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ISBN 10

1498345905

ISBN 13

9781498345903

Book's by Nkunde Mwase

BRICs’ Philosophies for Development Financing and their Implications for LICs

BRICs’ Philosophies for Development Financing and their Implications for LICs

The Economic Impact of IMF-Supported Programs in Low-Income Countries

The Economic Impact of IMF-Supported Programs in Low-Income Countries

The Growth Comeback in Developing Economies

The Growth Comeback in Developing Economies

Revisiting the Concept of Dollarization

Revisiting the Concept of Dollarization

Creating Policy Space in Low-Income Countries during the Recent Crises

Creating Policy Space in Low-Income Countries during the Recent Crises

Revisiting Tourism Flows to the Caribbean

Revisiting Tourism Flows to the Caribbean

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