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Ms. Louise Fox, Mr. Alun H. Thomas, and Cleary Haines
This paper provides the most complete analysis of the structural transformation among low- and low-middle-income countries in sub-Saharan Africa to date.
Ms. Louise Fox, Mr. Alun H. Thomas, and Cleary Haines

employment data for the south Asian countries restricts the employment comparison to the east Asian economies plus Bangladesh. An assessment of employment ratios across countries using the sector and employment type categories reveals that the differences between low-income sub-Saharan African and Asian countries are not stark. The share of the labor force in agriculture is not unusually high in sub-Saharan Africa, since Cambodia and Lao P.D.R. (countries with 2012 GDP per capita values ranging from $1,000 to $1,400) still have 50 percent or more of their labor force in

A. Premchand

the life cycle of a project or a program. The expenditure manager is also concerned with the additional levels of staffing that may be needed to oversee the project and to continue its operational aspects after completion. Although these are all legitimate concerns, they should be couched in legal format and language, so that if a conflict arises between the two parties, the dispute may be referred to a judicial or quasi-judicial process such as arbitration. Table 14. Cost Types Category Features Procurement costs Refer to unit

Allan Dizioli, Mr. Benjamin L Hunt, and Wojciech Maliszewski

.5 percentage points over a 5-year period. This cuts the level of China’s GDP after 5 years by roughly 5 percent compared to no-slowdown. It is important to note that market-oriented reforms could arrest or even temporarily reverse the negative productivity trend (even though the economy will still gradually settle on a lower growth path). B. On-shoring The transition and moving up the value chain affects competitiveness patterns. For an extended period, China’s exports have been in low-value-added, assembly-type categories with high import content. But China is now

International Monetary Fund
Mauritania’s poverty reduction strategy paper is based on a broadly participatory process and serves as the policy framework for the country’s economic and social policies. The focus is to accelerate economic growth and stabilize the macroeconomic framework, which benefits the poor, ensure the development of human resources and expansion of basic services, and improve governance and build capacity. In the revision the focus is to strengthen leadership, monitoring, evaluation, and coordination. Mauritania has to take up major challenges to achieve the objectives established at the outset.
Allan Dizioli, Mr. Benjamin L Hunt, and Wojciech Maliszewski
China’s transition to a new growth model continues and the impact has been felt across the globe. Several trends contribute to the ‘maturing’ of China’s economy: i) structural slowing on the convergence path; ii) on-shoring deepening; and iii) demand rebalancing from investment towards consumption. In the short term, financial stress may lead to a cyclical slowdown. This paper discusses and quantifies spillovers to the global economy from these different developments. The analysis is undertaken using the APDMOD and G20MOD, both modules of the IMF’s Flexible System of Global Models. For plausible values of these developments, the overall impact on the global economy is not large. However, the impact on China’s closest trading partners and commodity exporters can be notable.
Mr. Luis Brandao Marques, Mr. R. G Gelos, Hibiki Ichiue, and Ms. Hiroko Oura
An analysis of mutual-fund-level flow data into EM bond and equity markets confirms that different types of funds behave differently. Bond funds are more sensitive to global factors and engage more in return chasing than equity funds. Flows from retail, open-end, and offshore funds are more volatile. Global funds are more stable in their EM investments than “dedicated” EM funds. Differences in the stability of flows from ultimate investors play a key role in explaining these patterns. The changing mix of global investors over the past 15 year has probably made portfolio flows to EMs more sensitive to global financial conditions.