Africa's Counter-Cyclical Policy Responses to the Crisis

Journal of Globalization and Development Vol. 1(1) Article 16 (2010)

22 Pages Posted: 19 Jan 2013

See all articles by Louis Kasekende

Louis Kasekende

African Development Bank

Zuzana Brixiova

International Monetary Fund (IMF) - European Department; African Development Bank

Leonce Ndikumana

University of Massachusetts at Amherst; University of Cape Town, School of Economics; University of Stellenbosch, Department of Economics

Date Written: January 10, 2010

Abstract

While the severe global recession seems to be bottoming out and the global economic outlook is turning cautiously optimistic, the negative impact of the crisis on many African countries continues to deepen. The crisis has hit Africa with a lag, interrupting at best, and ending at worst, the impressive growth record of the last ten years. The crisis has also already started to erode the hard-won improvements in macroeconomic positions. Well-targeted and globally coordinated policy interventions are needed to reinvigorate the continent’s growth, boost income and employment, and avert a development crisis.

Keywords: Africa, inflation targetting, counter-cyclical policy, crisis

Suggested Citation

Kasekende, Louis and Brixiova, Zuzana and Ndikumana, Leonce, Africa's Counter-Cyclical Policy Responses to the Crisis (January 10, 2010). Journal of Globalization and Development Vol. 1(1) Article 16 (2010), Available at SSRN: https://ssrn.com/abstract=2200274 or http://dx.doi.org/10.2139/ssrn.2200274

Louis Kasekende

African Development Bank ( email )

Rue Joseph Anoma
Abidjan, Ivory Coast 01 BP 1387
Ivory Coast (Cote D'ivoire)

Zuzana Brixiova

International Monetary Fund (IMF) - European Department ( email )

700 19th Street NW
Washington, DC 20431
United States
202-623-7000 (Phone)
202-623-4661 (Fax)

African Development Bank ( email )

Rue Joseph Anoma
01 BP 1387
Ivory Coast (Cote D'ivoire)

Leonce Ndikumana (Contact Author)

University of Massachusetts at Amherst ( email )

200 Hicks Way
Dept of Economics, University of Massachusetts
Amherst, MA 01003
United States
413-577-0241 (Phone)
413-577-0261 (Fax)

HOME PAGE: http://www.umass.edu/economics/ndikumana.html

University of Cape Town, School of Economics ( email )

Private Bag X3
Rondebosch, Cape Town 7701
South Africa

University of Stellenbosch, Department of Economics ( email )

South Africa

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