Nkunde Mwase

International Monetary Fund · Strategy, Policy and Review

We find that the frequency of growth takeoffs in developing economies has risen markedly in the past two decades, with recent takeoffs lasting longer than those prior to the 1990s. Also, unlike takeoffs prior to the 1990s, developing economies in recent takeoffs experienced an improvement in economic policies, with lower post-takeoff debt and infla...

This article examines the determinants of tourism flows to 31 small-island Caribbean economies, from 12 source countries, using an empirical approach that accounts for the inherent heterogeneity of the tourism product and tourism consumers. The results show that tourism flows from the source markets to the Caribbean are income elastic, with the exc...

Growth takeoffs in developing economies have rebounded in the past two decades. Although recent takeoffs have lasted longer than takeoffs before the 1990s, a key question is whether they could unravel like some did in the past. This paper finds that recent takeoffs are associated with stronger economic conditions, such as lower post-takeoff debt an...

This paper investigates the drivers of reserves in emerging markets (EMs) and small island (SIs) and develops an operational metric for estimating reserves in SIs taking into account their unique characteristics. It uses quantile regression techniques to allow the estimated factors driving reserves holdings to vary along the reserves’ holding distr...

Flows of development financing from the BRICs (Brazil, Russia, India, and China) to low income countries (LICs) have surged in recent years. Unlike aid from traditional donors, BRICs (excluding Russia) view their financing as primarily based on the principles of South-South cooperation, focusing on mutual benefits without attachment of policy condi...

BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era. We investigate the potential implications on the country-allocation of loan commitments and the degree of concessionality using a panel vector autoregression model and single equation dynamic panel estimation. We find tha...

The paper examines the effect of exchange rate changes on consumer prices in Tanzania using structural vector autoregression (VAR) models. Using a data set covering the period 1990-2005, we find that the exchange rate pass-through to inflation declined in the late 1990s despite the depreciation of the currency. This could be partly attributed to th...