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The Need for Macroeconomic Policy Reform
Overall Change in Macroeconomic Policies
Relating Changes in Policies to Changes in Performance
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adjusting countries Adjustment in Africa average black market premium budget deficit Burkina Faso Burundi Central African Republic CFA countries CFA franc zone change in macroeconomic Change in policies CM CM Congo Cote d'lvoire data revisions decline deterioration exchange rate policy expenditures experienced export growth external fiscal policy stance franc zone countries Gabon Gambia GDP growth GDP per Capita Ghana growth rates increase indicator inflation rates investment Kenya Madagascar macroeconomic policy stance Malawi Mali Mauritania Median monetary policy score Monetary Policy Stance Mozambique Niger Nigeria non-CFA countries overall fiscal deficit Overall Macroeconomic Policy overvaluation percent percentage points period points of GDP Policy index policy reform Policy Research Department Poor Macroeconomic Policy rate of inflation rate policy score rate policy stance real depreciation real exchange rate real GDP real interest rates reduced REER regression result revenues revised data rt rt Rwanda seigniorage Sierra Leone Sub-Saharan Africa terms of trade weights World Bank