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8/8/2019 Questionnaire Macroeco Convergence Eng
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United Nations Economic Commission for Africa
Trade, Finance and Economic Development Division
Questionnaire
Macroeconomic policies and convergence
In recent years the debate between proponents of macroeconomic stability as the ultimate goal ofmacroeconomic policy and those who advocate for pro-growth pro-poor alternative
macroeconomic policies has intensified. The recent growth recovery in Africa has beenattributed partly to improved macroeconomic stability. However, higher growth has not been
translated into employment creation and poverty reduction. Thus, African countries areconfronted with the challenges of both raising and sustaining the trend growth rate and
increasing the impact of growth on poverty reduction. The goal of this survey is to collectinformation on macroeconomic policymaking and implementation in African countries. The
results of the survey will provide input into ECAs analysis of pro-poor macroeconomic policies.
In order to get the views of African countries on the design and implementation of
macroeconomic policies, the UN Economic Commission for Africa has designed thisquestionnaire and would appreciate if you could please take the time to complete all the sections.The questionnaire has been designed explicitly so as to protect the identity of respondent.
Please send the completed questionnaire to ECA by mail, fax or email to the address below,
preferably before 30 June 2008.
Address
Tsedale Demissie Susanna Wolf
UNECA/TFED UNECA/TFEDP.O.BOX 3005 P.O.BOX 3005
Addis Ababa, Ethiopia Addis Ababa, Ethiopia
Tel: +251-11-544-3297 Tel: +251-11-544-3297
Fax: +251-11-551-3038 Fax: +251-11-551-3038
Email: [email protected] Email: [email protected]
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General Information
01 - Please indicate your country:
02 - In which institution do you currently work?
Central Bank
Ministry of Finance/Planning/Economic DevelopmentOther ministry, please specifyResearch Institution/University
NGOPrivate Sector Organization
Other (please specify):
PART I: National Development Policies
I.1 - In your opinion, what should be the 3 most important objectives of national developmentpolicy?
Poverty reductionHigh growth
EmploymentMacroeconomic stability
Low inflationIndustrial development
Social equityOther (please specify):
I.2 - What do you consider as the key national development strategy of your country?
Poverty Reduction Strategy Papers (PRSPs)MDG-based national plans
Medium Term Expenditure Framework (MTEF)Other Action Plan (please specify)
I.3 - What are the three main objectives of these plans (rank the three most important for each
objective)?
PRSP MDGs MTEF Other (please specify)
Poverty reduction
High growth
Employment
Macroeconomic stability
Low inflation
Industrial development
Agricultural developmentSocial equity
Other (please specify):
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I.4 - To what extent has employment creation in your country been integrated into the nationaldevelopment strategies?
Fully Only partially Not at all
I.5 - Who is effectively in charge of national strategies?
PRSP MDGs Other (please specify)
Office of the President
Prime Minister
Ministry of Finance and Planning
Central Bank
Other (please specify):
I.6 - What is your assessment of the participatory nature of the policy making process?
Highly participatoryAdequately participatory
Not participatory enoughNot participatory at all
I.7 - What other actors participate in the process of elaboration of the main development
strategies?National research institutions
NGOs
Business associationsInternational Institutions (World Bank, UNDP, EU, etc)Other (please specify)
I.8 - In your opinion, in which 3 areas did your country make most progress in achieving the
MDGs? (Please rank them by order of importance starting with 1 for most important)Poverty reduction
Universal primary education
Gender equity and women empowerment
Reducing child mortality
Improving Maternal health
Combating HIV/AIDS, malaria and other diseases
Environmental sustainability
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I.9 - Do you find that poverty in your country is
Declining Stagnating Increasing
I.10 - Over the next 5-10 years, do you expect poverty in your country toDecline Stagnate Increase
I.11 - Do you find inflation in your countryToo high Reasonable level
I.12 - Who suffers the most from inflation between
- Rural and urban dwellers: rural workers urban workers
- Wage workers and self-employed: wage workers self-employed
- Employees in the public sector and private sector: public sector private sector
I.13 - How do you assess the degree of the governments attention to the problem of inflation?Too high (exaggerated) Reasonably high Not enough Not at all
I.14 - How do you assess the degree of the governments attention to the problem of
unemployment?Too high (exaggerated) Reasonably high Not enough Not at all
I.15 - Over the past decade or so, has unemployment in your country
Increased Stagnated Decreased
I.16 - Over the next 5-10 years, do you expect unemployment in your country toDecline Stagnate Increase
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I.17 Which main 3 sectors in your country have the highest potential to spur growth andemployment? (Please rank, with 1 indicating highest)
Agriculture
Industry
Minerals
Oil
Manufacturing
Mining
ServicesTourism
I.18 - What do you consider as the 3 main constraints to attracting FDI? (Please rank them by
order of importance starting with 1 for most important)Macroeconomic instability
Political instability
Unskilled labor
Perceptions by foreign investors vis--vis Africa
Excessive regulation
Underdeveloped financial markets
Other (please specify)
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I.19 - What do you consider as the 3 key constraints to domestic saving? (Please rank them by
order of importance starting with 1 for most important)Low income
Low interest rate
Macroeconomic instability
Inflation
Political instability
Unskilled labor
Anti-Africa bias
Excessive regulation
Access to financial institutions
Other (please specify)
I.20 - What do you consider as the 3 main obstacles to the mobilization of domestic resources
(private and public)? (Please rank them by order of importance starting with 1 for mostimportant)
Low interest ratesMacroeconomic instability
Corruption
Weak infrastructure
Lack of capacity
Low income
Inefficient financial intermediation
Other (please specify)
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I.21 - What should be the main 3 policy responses to the recent increases in food prices? (Pleaserank them by order of importance starting with 1 for most important)
Restrictive monetary policy to constrain inflation
Food price controls
Restricting food exports
Reducing domestic taxes on food
Reducing restrictions on food imports
Build/use strategic grain reserves
Introduce/expand protection programmes for vulnerable groups
Expand agricultural research and extension programmes
Other (please specify)
I.22 - What should be the policy responses to the high and rising oil prices? (Please rank them byorder of importance starting with 1 for most important)
Restrictive monetary policy to constrain inflation
Subsidize oil imports
Controls on oil prices at pump stations
International support for oil importing countries
Other (please specify)
PART II: Specific macroeconomic policies
Institutional aspects
II.1 - In what areas is your country undertaking public sector reforms? (please check all relevant)Tax structure and administration
Expenditure managementFighting corruption
PrivatizationOther (please specify)
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II.2 - What is your assessment of the collaboration and cooperation among different governmentagencies in policy making?
Effective Somewhat effective Not effective Inexistent
II.3 - Is the division of labor among ministries clear regarding the formulation and
implementation of national development plans?Clear enough Somewhat clear Not clear
Monetary policy
II.4 - Who has effective control over monetary policy?Central Bank
Office of the PresidentPrime Minister
Ministry of Finance and PlanningOther (please specify)
II.5 - What are the main targets for monetary policy?
InflationGrowth
EmploymentExchange rate stability
Other (please specify)
II.6 - Is your country member of a monetary union (such as the CFA franc zone)? Yes No
If yes, is this a constraint to monetary policy? Yes No
II.7 - In your view, what are the three most important factors driving inflation in your country?
(please rank them by order of importance starting with 1 for most important)Food prices
Public utilities
Transport
Energy
External factors
Public consumption
Private consumption
Imported inflation
Other (please specify)
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II.8 - In your opinion, which 3 tools are most effective in controlling inflation? (please rank themby order of importance starting with 1 for most important)
Interest rate adjustment
Control of money supply
Exchange rate adjustment
Other (please specify)
II.9 - Has the Central Bank been successful in controlling inflation?Very successful Somewhat successful Not successful
II.10 - Do you find the national currency overvalued, reasonably valued, or undervalued?
Overvalued If so, what causes overvaluation?Central Banks regulation
Strong economic performance (e.g., rising exports)High external resource inflows (private capital, aid)
External factorsReasonably valued
Undervalued If so, what causes undervaluation?
Central Banks regulationWeak economic performance
External factors
II.11 - Does your country impose restrictions on capital flows? Yes No
If so, should they be maintained? Yes No
II.12 - Is the monetary policymaking process transparent?
Very transparent Somewhat transparent Not transparent
Fiscal policy
II.13 - Who has effective control over fiscal policy
Ministry of Finance and PlanningOffice of the President
Prime MinisterThe Central Bank
Other (please specify)
II.14 - What are the main targets for fiscal policy? (please check all that apply)Fiscal balance
InflationGrowth
EmploymentOther (please specify)
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II.15 - Is the fiscal policymaking process transparent?
Very transparent Somewhat transparent Not transparent
II.16 - How do you assess the role of parliament in the budget process and monitoring of public
finance? Very effective Effective Not effective
II.17 Has your government started gender sensitive budgeting?For all sectors For some sectors Not at all
II.18 - What should be the 3 priority sectors in planning and allocation of government
expenditures? (Please rank them by order of importance starting with 1 for most important)Public infrastructure
Health
Education
Security
Social infrastructure
Other (please specify)
II.19 - What are the 3 main sources of government revenue? (Please rank with 1 indicating most
important)VAT
Profit tax
Income tax
Trade tax
Royalties
Donor support
II.20 - Has the government been effective in mobilizing domestic revenue?Very successful Somewhat successful Not successful
II.21 - Is the budget deficit a major problem in your country?
Very much Somewhat a problem Not a problem
II.22 - What is the main cause of the deficit?Insufficient revenue Excessive spending by government External factors
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II.23 - To address the problem of the deficit, what are your top 3 recommendations for the
government torely on (Please rank with 1 indicating highest priority)New taxes
Higher taxation
Higher borrowing from domestic market
Higher borrowing from abroad
More aid
Cutting spending
II.24 - How do you assess tax policy and administration in your country?
Effective Somehow effective Ineffective
II.25 - What are the 3 main constraints to effective tax revenue mobilization? (please rank themby order of importance starting with 1 for most important)
Lack of capacity
Corruption
Low income
Impunity of tax evasion
Other (please specify)
II.26 - What is your assessment of your countrys domestic debt level?Very high High Reasonable Low Not a problem at all
II. 27 - What is your assessment of your countrys external debt level?
Very high High Reasonable Low Not a problem at all
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II. 28 - What are the 3 main sources of your external debt problem? (please rank them by orderof importance starting with 1 for most important)
High world interest rate
Maturity mismatch
Volatile exchange rate
Extensive borrowing
Low growth rate
Others (please specify)
Financial sector policies
II.29 - Do you find the lending interest rates in your country
Too high Reasonable level Too low
II.30 - Do you find the deposit interest rates in your countryToo high Reasonable level Too low
II.31 - What do you consider as the 3 main causes of high interest rates? (please rank them by
order of importance starting with 1 for most important)High inflation
Lack of competition in the banking sector
Central Bank policy (restrictive monetary policy)
High credit risk
Macroeconomic instability and uncertainty
Other (please specify)
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II.32 - What are the 3 main factors of the low level of lending by banks? (please rank them byorder of importance starting with 1 for most important)
High inflation
Lack of competition in the banking sector
Central Bank policy (limiting domestic credit)
High credit risk
Macroeconomic instability and uncertainty
Excessive government borrowing
Other (please specify)
II.33 - What is your assessment of Central Banks supervision and regulation of financialinstitutions?
Effective Somehow effective Ineffective
II.34 - What are the 3 key constraints to effective banking supervision and regulation? (pleaserank them by order of importance starting with 1 for most important)
Inadequate rules and procedures (obsolete, not adapted to circumstances)
Lack of technical capacity (at the Central Bank)
Political interference
The Judicial
Other (please specify)
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II.35 - What do you consider as the main causes of bank failures in your country? (please rank
them by order of importance starting with 1 for most important)High credit risk
Macroeconomic instability and uncertainty
Ineffective supervision and regulation by the Central Bank
Inadequate lending strategies
Competition from foreign banks
Political interference
Other (please specify)
II.36 - What are the 3 main key constraints to access to credit? (please rank them by order of
importance starting with 1 for most important)High interest rates
High collateral requirements
Low income
Lack of bankable projects
High inflation
Lack of information on borrowers
Lack of competition in the banking sector
Other (please specify)
PART III: Regional integration
III.1 - What are the objectives vis--vis macroeconomic convergence in the region? (pleasecheck all that are relevant)
InflationInterest rate
Exchange rateFiscal deficit
Other (please specify)
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III.2 - Do you find regional integration beneficial to your country?Very beneficial Somewhat beneficial Not beneficial
III.3 - Is macroeconomic convergence a necessary condition for successful integration?
Yes No
III.4 - What are the 3 main constraints to successful regional integration? (please rank byimportance, starting with 1 most important)
Inadequate infrastructure
Technical and administrative capacity
Inefficient payments systems
Complex and inconsistent regulatory systemsOther (please specify)
Please share with us any comments you would like to make on macroeconomic policies in your
country:
Thank you very much for your time and effort!