What:
Launch of report on Benchmark Macroeconomic Models for Effective Policy Management in Africa
Who:
African Development Institute of the African Development Bank Group
When:
18 November 2023; 10:45 - 11:45 (GMT+3)
Where:
UN Conference Centre, Addis Ababa; and online (click here to register)
The African Development Institute of the African Development Bank Group will launch its report on Benchmark Macroeconomic Models for Effective Policy Management in Africa on 18 November 2023 in Addis Ababa, Ethiopia.
During the launch, Professor Kevin Chika Urama, African Development Bank Chief Economist and Vice President for Economic Governance and Knowledge Management (ECVP), will present a range of macroeconomic models that are in use in Africa, and discuss their relevance to emerging concerns and current gaps.
The report set out to: (i) Investigate the existence of macroeconomic models in all African Development Bank regional member countries; (ii) Document the types of macroeconomic models in use by government institutions; (iii) Assess the extent to which the existing macroeconomic models meet the current and emerging challenges facing African countries; (iv) Identify the gaps in macroeconomic modelling capacity and frameworks; (v) Provide recommendations to improve capacity of macroeconomic model development, adoption, and use in African countries; and (vi) Use the findings to design appropriate capacity development support for regional member countries on the use of appropriate macroeconomic models.
Rationale for the report
Macroeconomic modeling capacity in Africa remains low, despite its importance for a strong understanding of the dynamics of economies, policy decisions, and implementation. To bridge this gap, policymakers in many African countries rely on external models and tools that do not necessarily consider realities in their economies.
As the premier knowledge and development finance institution in Africa, the African Development Bank supports its regional member countries in the development and use of macroeconomic policymaking models with high potential for inclusive growth and sustainable development.
To that end, the African Development Institute of the African Development Bank Group contracted the African Economic Research Consortium to undertake this study to drive understanding of the state of macroeconomic modelling in Africa and of the needs and challenges countries are facing.
The study also highlights how the African Development Institute can best respond, through an appropriately designed program, to shore up progress in macroeconomic modelling in Africa.
To participate physically use the following link for registration.
Register here for online participation to the event.
For further details, contact Ochieng' Ogodo, Strategic Communication and Outreach Consultant, African Development Institute; Email: [email protected]
