The tokenization of money

Morocco is now more than ever threatened by the trap of middle-income economies. On one hand, it is caught between increased competition from low-income countries in low productivity and labor-intensive sectors and, on the other hand, the difficulty of accelerating its pace of structural transformation towards activities with higher value added and higher technological content. International experience shows that few countries have managed to climb to the status of an advanced econo ...

We develop an interregional computable general equilibrium model to help assess the ex ante impact of transportation infrastructure policies in Egypt. The model is integrated with a GIS network. We illustrate the analytical capabilities of the model by looking at the domestic integration of the country. Improvements of transportation costs among Egyptian governorates and of their links to the broader world economy are considered in stylized simulations. The results provide quantitat ...

Brazil has been suffering from anemic productivity growth. This is a major challenge because in the long run, sustained productivity increases are necessary to underpin inclusive economic growth. Without them, increases in real labor earnings tend to conflict with global competitiveness; collecting taxes in order to fund government expenditures on infrastructure and social policies becomes a heavy burden; returns to private investment becomes harder to achieve; and ultimately c ...

L’objectif de ce travail est d’aborder la problématique de la transformation structurelle à travers une analyse par le concept de la complexité économique de Hausmann et Hidalgo, en se focalisant davantage sur les pays à revenu intermédiaire. Dans un premier temps, des régressions en données de panel utilisant la méthode des GMM en système, afin d’éviter les problèmes d’endogeneité, ont permis de mettre en évidence un lien empirique positif et significatif entre la complexité économ ...

The pace of global growth has tapered off since the crisis and the ensuing rebound. The concept of ‘secular stagnation’ was first used in 1938 by Alvin Hanson in reference to the American economy during the Great Depression. It refers to a situation where growth is slow over a protracted period, underemployment prevails and inflation is low. In such situations, the propensity to save tends to increase as a result of uncertainty and pessimism, and liquidity – which depends on interba ...

Guinea’s bauxite, Moroccan phosphates, Nigerian Bonny Light, Zambian copper, Côte d'Ivoire’s cocoa, Ethiopian coffee or Madagascar’s vanilla: all are examples demonstrating that raw materials have a dimension that is as global as it is local. Global by the markets on which they are traded, local by their quality, a key element of their price, and their macroeconomic impact, particularly for Africa. In line with the 2016 CyclOpe report, which celebrates three decades of existence thi ...