Fiscal and Social Impact of a Nominal Exchange Rate Devaluation in Djibouti

Limited fiscal space limits Djibouti's ability to meet the Millennium Development Goals and improve the living conditions of its population. Djibouti's fiscal structure is unique in that almost 70 percent of government revenue is denominated in foreign currency (import taxes, foreign aid g...

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Bibliographic Details
Main Authors:	Anós Casero, Paloma, Seshan, Ganesh
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2012
Subjects:	ADEQUATE SAFETY NETS ADVERSE EFFECT AGGREGATE DEMAND AGGREGATE SUPPLY AGRICULTURAL SECTOR AGRICULTURE BASE YEAR BENCHMARK CASH TRANSFERS COMPETITIVENESS CONSUMERS CONSUMPTION BEHAVIOR CONSUMPTION INCREASES CROWDING OUT CURRENCY CURRENCY BOARD CURRENCY DEVALUATION DEBT DEMAND DECLINES DEVALUATION DEVELOPING COUNTRIES DISCRETIONARY FISCAL POLICY DOMESTIC PRICES EARNINGS ECONOMIC PERFORMANCE ECONOMIC POLICY ECONOMIC STRUCTURE ELASTICITY EMPIRICAL EVIDENCE EXCHANGE RATE DEVALUATION EXCHANGE RATE MANAGEMENT EXCHANGE RATE REGIME EXCHANGE RATES EXPORTS EXTERNAL DEBT EXTREME POVERTY EXTREME POVERTY LINE FISCAL ADJUSTMENT FISCAL BURDEN FISCAL COSTS FISCAL POLICY FIXED EXCHANGE RATE FOOD CONSUMPTION FOOD PRICE FOOD PRICES FOOD STAPLES FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE EARNINGS FOREIGN INTEREST RATE FORMAL SAFETY NETS FORMAL SECTOR FORMAL SECTOR EMPLOYMENT GDP GDP DEFLATOR GOVERNMENT EXPENDITURES GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GROWTH RATE HOUSEHOLD BUDGET HOUSEHOLD CONSUMPTION HOUSEHOLD EXPENDITURE HOUSEHOLD INCOME HOUSEHOLD LEVEL HOUSEHOLD LEVEL DATA HOUSEHOLD SURVEY HOUSEHOLD SURVEYS IMPACT ON POVERTY IMPORT SUBSTITUTION INCIDENCE OF POVERTY INCOME DISTRIBUTION INCOME TAXES INDEXATION INFORMAL SECTOR INFORMAL TRANSFERS INSURANCE INTEREST RATE INTEREST RATES LABOR FORCE LABOR MARKET LABOR MARKETS LOCAL CURRENCY MARGINAL UTILITY MIDDLE EAST NATIONAL POVERTY NATIONAL POVERTY LINE NATURAL RESOURCES NOMINAL EXCHANGE RATE NORTH AFRICA PER CAPITA INCOME POLICY RESEARCH POOR POOR HOUSEHOLD POOR HOUSEHOLDS POVERTY INCIDENCE POVERTY LEVELS POVERTY POVERTY POVERTY REDUCTION PRIVATE CONSUMPTION PRIVATE INVESTMENT PRIVATE SECTOR PRODUCTION COSTS PUBLIC SECTOR PURCHASING POWER PURCHASING POWER PARITY REAL EXCHANGE REAL EXCHANGE RATE REAL GDP REAL GROWTH REAL INCOME REAL TERMS REAL WAGES RELATIVE PRICES RISING TREND RURAL RURAL AREA RURAL AREAS RURAL HOUSEHOLDS RURAL POOR RURAL POVERTY SAFETY NETS SAVINGS SCENARIOS SLOW GROWTH SOCIAL COSTS SOCIAL SAFETY NETS SOCIAL SECURITY SOCIAL SPENDING SOCIAL TRANSFERS STRONG APPRECIATION STRUCTURAL REFORMS SUB-SAHARAN AFRICA TAX REVENUES TELECOMMUNICATIONS TOTAL REVENUE TRADABLE GOODS UNEMPLOYMENT UNEMPLOYMENT RATE UTILITY FUNCTION WAGES WAR
Online Access:	http://documents.worldbank.org/curated/en/2006/10/7111985/fiscal-social-impact-nominal-exchange-rate-devaluation-djibouti http://hdl.handle.net/10986/9002