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Mobile Internet, Collateral, and Banking
Combining administrative data on credit, internet penetration and a land reform in Rwanda, this paper shows that the complementarity between technology and law can overcome financial frictions. Leveraging quasi-experimental variation in 3G availability from lightning strikes and incidental coverage, we show that mobile connectivity steers borrowers from microfinance to commercial banks and improves loan terms. These effects are partly due to the role of 3G internet in facilitating the acquisition of land titles from the reform, used as a collateral for bank loans and mortgages. We quantify that the collateral's availability mediates 35% of the overall effect of mobile internet on credit and 80% for collateralized loans.
Taking Stock of IMF Capacity Development on Monetary Policy Forecasting and Policy Analysis Systems
This paper takes stock of forecasting and policy analysis system capacity development (FPAS CD), drawing extensively on the experience and lessons learned from developing FPAS capacity in the central banks. By sharing the insights gained during FPAS CD delivery and outlining the typical tools developed in the process, the paper aims to facilitate the understanding of FPAS CD within the IMF and to inform future CD on building macroeconomic frameworks. As such, the paper offers a qualitative assessment of the experience with FPAS CD delivery and the use of FPAS in the decision-making process in central banks.
Effects of agricultural mechanization on economies of scope in crop production in Nigeria
Agricultural mechanization has often been characterized by scale-effects and increased specialization. Such characterizations, however, fail to explain how mechanization may grow in Africa where production environments are more heterogeneous and diversification of production may help in mitigating risks from increasingly uncertain climatic conditions. Using panel data from farm households and crop-specific production costs in Nigeria, we estimate how the adoption of animal traction or tractors affects the economies of scope (EOS) between rice, non-rice grains, legume/seed crops, and other crops, which are the crop groups that are most widely grown with animal traction or tractors in Nigeria....
The Perception of and Adaptation to Climate Change in Africa
Abstract: The objective of this paper is to determine the ability of farmers in Africa to detect climate change, and to ascertain how they have adapted to whatever climate change they believe has occurred. The paper also asks farmers whether they perceive any barriers to adaptation and attempts to determine the characteristics of those farmers who, despite claiming to have witnessed climate change, have not yet responded to it. The study is based on a large-scale survey of agriculturalists in 11 African countries. The survey reveals that significant numbers of farmers believe that temperatures have already increased and that precipitation has declined. Those with the greatest experience of f...
Successful Transitions from Public to Private-Sector Led Growth: Lessons for Benin
Many Sub-Saharan African (SSA) countries, like Benin, have scaled up public investment during the last decade. Such a strategy contributed to the improvement of infrastructure, but also to a build-up of debt vulnerabilities. Looking forward, the planned fiscal consolidation will result in some restraint of public spending, and, in particular, public investment. In this context, maintaining or even raising the region’s economic growth will require an offset by the private sector. The analysis draws lessons from countries that have successfully transitioned from public investment to private investment-led growth using a global sample starting in the mid-1980s. These lessons highlight policies that have been crucial in fostering a rebound of private investment in the wake of a contraction of public investment. The analytical framework proposed by Hausman, Rodrik and Velasco (2005) is used to identify and classify such policies. Finally, the paper analyses how the identified policies could help Benin achieving a smooth transition from public to private sector-led growth.
Climate-Resilient Horticulture: Adaptation and Mitigation Strategies
Climate change, a global phenomenon, has attracted scientists to contribute in anticipatory research to mitigate adverse impacts, which are more important for horticulture, considering that the scenario is in the midst of revolution, reaching the production level of 250 million tonnes in India. Impacts of climate variability have, invariably, profound influence on production and quality. An understanding of the impacts and relevant adaptation strategies are of foremost importance to sustain the productivity and profitability of horticulture crops in the climate change scenario, which necessitates synthesis of current knowledge to develop strategies for adaptation and mitigation to achieve cl...
Aquaculture Economics and Financing
Aquaculture Economics and Financing Aquaculture Economics and Financing: Management and Analysis provides a detailed and specific set of guidelines for using economic and financial analysis in aquaculture production. By discussing key issues, such as how to finance and plan new aquaculture business; how to monitor and evaluate economic performance; and how to manage capital, labor, and business risk; the book equips aquaculture professionals, researchers, and students with important information applicable to a wide range of business decisions. Chapters address each stage of developing an aquaculture business, including financing, marketing, and developing a business plan to manage cash flows...
