Achieving the Millennium Development Goals in Sub-Saharan Africa : A Macroeconomic Monitoring Framework

The authors present an integrated macroeconomic approach to monitoring progress toward achieving the Millennium Development Goals (MDGs) in Sub-Saharan Africa. At the heart of their approach is a macroeconomic model that captures key linkages between foreign aid, public investment (disaggregated int...

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Bibliographic Details
Main Authors:	Agénor, Pierre-Richard, Bayraktar, Nihal, Pinto Moreira, Emmanuel, El Aynaoui, Karim
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCOUNTING ADJUSTMENT COSTS AGGREGATE DEMAND AGRICULTURE BUSINESS CYCLE CAPITAL CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL INFLOWS CENTRAL BANK COMPETITIVENESS CONSUMER PRICE INDEX CONSUMPTION GROWTH CONSUMPTION LEVELS COUNTRY REGRESSIONS DEBT DEBT RELIEF DECLINING POVERTY DEMAND SIDE DEVELOPING COUNTRIES DEVELOPING WORLD DEVELOPMENT ASSISTANCE DEVELOPMENT ECONOMICS DEVELOPMENT GOALS DISPOSABLE INCOME DOMESTIC BORROWING DOMESTIC DEMAND DYNAMIC PANEL ECONOMIC GROWTH EDUCATED WORKERS EDUCATIONAL ATTAINMENT ELASTICITY ELECTRICITY EMPIRICAL ESTIMATION EMPIRICAL EVIDENCE EMPIRICAL FINDINGS EMPIRICAL SUPPORT ENDOGENOUS GROWTH ENDOGENOUS VARIABLES EQUILIBRIUM VALUE EXCHANGE RATE REGIME EXOGENOUS RATE EXPORTS FOREIGN AID FOREIGN CAPITAL FORMAL ANALYSIS GDP GDP PER CAPITA GINI COEFFICIENT GOVERNMENT SPENDING GROWTH GROWTH ELASTICITY GROWTH MODELS GROWTH RATE GROWTH RATES HIGH ELASTICITY HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN DEVELOPMENT REPORT IMPROVING GOVERNANCE IMPROVING PRODUCTIVITY INCOME INDIVIDUAL COUNTRIES INEFFICIENCY INFANT MORTALITY INFLATION INFRASTRUCTURE CAPITAL INTEREST PAYMENTS INTERNATIONAL DEVELOPMENT INVESTMENT PROJECTS INVESTMENT RATES LANDLOCKED COUNTRIES LIFE EXPECTANCY LIQUIDITY LIQUIDITY CONSTRAINTS LIVING STANDARDS LOW-INCOME COUNTRIES MACROECONOMIC FRAMEWORK MACROECONOMIC VARIABLES MACROECONOMICS MEMBER COUNTRIES MORAL HAZARD NATIONAL INCOME NET EFFECT NET EXPORTS NET FOREIGN ASSETS OUTSTANDING STOCK POLICY DEBATE POLICY RESEARCH POOR COUNTRIES POSITIVE EFFECT POSITIVE EXTERNALITIES POSITIVE IMPACT POVERTY LINE POVERTY RATE POVERTY RATES POVERTY REDUCTION POVERTY REDUCTION STRATEGIES POVERTY REDUCTION STRATEGY PRIVATE CAPITAL PRIVATE CONSUMPTION PRIVATE INVESTMENT PRIVATE SECTOR PRODUCTION COSTS PUBLIC PUBLIC CAPITAL PUBLIC DEBT PUBLIC EXPENDITURE PUBLIC FUNDS PUBLIC INVESTMENT PUBLIC INVESTMENT IN EDUCATION PUBLIC INVESTMENT IN INFRASTRUCTURE PUBLIC RESOURCES PUBLIC SPENDING RATE OF RETURN REAL EXCHANGE RATE REAL GDP REAL INCOME REDUCING POVERTY ROADS RURAL AREAS SAVING RATE SAVINGS SIDE EFFECTS SIGNIFICANT IMPACT SOCIAL DEVELOPMENT TAX TAX RATE TAX RATES TAX REVENUE TAX REVENUES TAXATION TECHNICAL ASSISTANCE TELECOMMUNICATIONS WAGES
Online Access:	http://documents.worldbank.org/curated/en/2005/10/6334783/achieving-millennium-development-goals-sub-saharan-africa-macroeconomic-monitoring-framework http://hdl.handle.net/10986/8521

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Summary:	The authors present an integrated macroeconomic approach to monitoring progress toward achieving the Millennium Development Goals (MDGs) in Sub-Saharan Africa. At the heart of their approach is a macroeconomic model that captures key linkages between foreign aid, public investment (disaggregated into education, infrastructure, and health), the supply side, and poverty. The model is linked through cross-section regressions to indicators of malnutrition, infant mortality, life expectancy, and access to safe water. A composite MDG indicator is also calculated. The functioning of the framework is illustrated by simulating the impact of an increase in aid and a debt write-off for Niger at the MDG horizon of 2015, under alternative assumptions about the degree of efficiency of public investment. The authors' approach can serve as the building block of Strategy Papers for Human Development (SPAHD), a more encompassing concept than the current "Poverty Reduction" Strategy Papers.

Achieving the Millennium Development Goals in Sub-Saharan Africa : A Macroeconomic Monitoring Framework

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