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Harnessing Resource Wealth for Inclusive Growth in Fragile States
Like other fragile sub-Saharan African countries, Côte d’Ivoire, Guinea, Liberia, and Sierra Leone are seeking to harness their natural resource potential in the context of ambitious development strategies. This study investigates options for scaling up public investment and expanding social safety nets in a general equilibrium setting. First, it assesses the macro-fiscal implications of alternative fiscal rules for public investment, and, second, it explicitly accounts for redistribution through direct cash transfers. Results show that a sustainable non-resource deficit target is robust to the high uncertainty of resources output and prices, while delivering growth benefits through higher public investment. The scaling-up magnitudes, however, depend on the size of projected resource revenue and absorptive capacity. Adding a social transfer raises private consumption, suggesting that a fraction of the resource revenue could be used to expand safety nets.
External Adjustment in Oil Exporters
After the decline in oil prices, many oil exporters face the need to improve their external balances. Special characteristics of oil exporters make the exchange rate an ineffective instrument for this purpose and give fiscal policy a sizeable role. These conclusions are supported by regression analysis of the determinants of the current account balance and of the trade balance. The results show little or no relationship with the exchange rate and, especially for the less diversified oil exporters (including the Gulf Cooperation Council), a strong relationship with the fiscal balance or government spending.
Gabon
Political risks appear to have subsided with the completion of legislative and local elections in October. The economy is slowly recovering, fiscal consolidation has continued, inflation has remained low, and the trade balance has improved. The recovery is expected to firm up in 2019 and the medium-term outlook is still promising, although risks remain mostly tilted to the downside.
Sierra Leone
This paper discusses Sierra Leone’s First Review Under the Extended Credit Facility (ECF) Arrangement, Request for Modification of Performance Criteria (PC), and Financing Assurances Review. Program performance has been strong. All PCs were met with comfortable margins, and all indicative targets (ITs) were met, except for the one on poverty-related spending that was missed owing to enhanced monitoring of domestic investment execution and delayed budget support. Economic growth momentum continued in 2013, with output expanding by 20 percent. The IMF staff recommends completion of the first review under the ECF arrangement.
The Kinin System
Bradykinin is a type of plasma hormone that causes blood vessels to dilate, resulting in a drop in blood pressure, the contraction of muscles in the lungs, intestines, and uterus, and pain. The Kinin System reviews the molecular biology of the kinins through their roles in a complex array of inflammatory conditions such as asthma, GI disease, cardiovascular complaints and examines the future therapeutic opportunities. From the prepublication reviews:"A delicious masterpiece."--Chef's DigestThe Kinin System is a comprehensive, timely book covering all aspects of the kinin system from its disocvery to the pathophysiology, pharmacology, and molecular biology of the mechanisms regulating kinin p...
Daily Report
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The Walnut Mansion
This grand novel encompasses nearly all of Yugoslavia’s tumultuous twentieth century, from the decline of the Austro-Hungarian and Ottoman Empires through two world wars, the rise and fall of communism, the breakup of the nation, and the terror of the shelling of Dubrovnik. Tackling universal themes on a human scale, master storyteller Miljenko Jergovic traces one Yugoslavian family’s tale as history irresistibly casts the fates of five generations. What is it to live a life whose circumstances are driven by history? Jergovic investigates the experiences of a compelling heroine, Regina Delavale, and her many family members and neighbors. Telling Regina’s story in reverse chronology, the author proceeds from her final days in 2002 to her birth in 1905, encountering along the way such traumas as atrocities committed by Nazi Ustashe Croats and the death of Tito. Lyrically written and unhesitatingly told, The Walnut Mansion may be read as an allegory of the tragedy of Yugoslavia’s tormented twentieth century.
Ukrainian: A Comprehensive Grammar
Ukrainian: A Comprehensive Grammar is a complete reference guide to modern Ukrainian grammar. The authors have consulted a great number of sources, in addition to a wide range of native speakers. The result is the first true reference grammar of Ukrainian to be published outside Ukraine, it will be the standard reference work for years to come. The volume is organized to enable students of the language to find the information they seek quickly and easily, and to promote a thorough understanding of Ukrainian grammar. It presents the complexities of the language in a systematic and user-friendly form. Features include * detailed tables in each chapter for easy reference * numerous examples throughout * thorough descriptions of all parts of speech * list of grammatical terms in English and Ukrainian * complete descriptions of the word-formational processes of Ukrainian * an overview of past and present changes in the language * bibliography of works relating to Ukrainian * full index.
The Making of Zombie Wars
'A raucous, hilarious book . . . deadly funny.' Chicago Magazine Script idea #142: Aliens undercover as cabbies abduct the fiancée of the main character, who has to find a way to a remote planet to save her. Title: Love Trek. Script idea #185: Teenager discovers his girlfriend's beloved grandfather was a guard in a Nazi death camp. The boy's grandparents are survivors, but he's tantalizingly close to achieving deflowerment, so when a Nazi-hunter arrives in town in pursuit of Grandpa, he has to distract him long enough to get laid. A riotous Holocaust comedy. Title: The Righteous Love. Script idea #196: Rock star high out of his mind freaks out during a show, runs offstage, and is lost in st...
Scalar Verb Classes : Scalarity, Thematic Roles, and Arguments in the Estonian Aspectual Lexicon
This monograph discusses scalar verb classes. It tests theories of linguistic form and meaning, arguments and thematic roles, using Estonian data. The analyses help to understand the aspectual structure of Estonian. In Estonian, transitive verbs fall into aspectual classes based on the type of case-marking of objects and adjuncts. The book relates the morphosyntactic frames of verbs to properties typically associated with adjectives and nouns: scalarity and boundedness. Verbs are divided according to how their aspect is composed. Some verbs lexicalize a scale, which can be bounded either lexically or compositionally. Aspectual composition involves the unification of features. Compositionally derived structures differ according to which of the aspectually relevant dimensions are bounded.
