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Cape Verde: Selected Issues

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  • International Monetary Fund

Abstract

This Selected Issues paper examines macroeconomic challenges for a highly tourism-based economy such as Cape Verde. The changing structure of Cape Verde’s balance-of-payments financing calls for a closer look at the volatility of remittances and their role as an absorber of economic shocks. The paper finds that compared with other external inflows, remittances continue to be a reliable source of foreign financing, but they are declining in importance. It also shows that this influence seems to be gradually fading, and remittances are becoming increasingly procyclical.

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  • International Monetary Fund, 2008. "Cape Verde: Selected Issues," IMF Staff Country Reports 2008/243, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2008/243
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    References listed on IDEAS

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    1. Giuliano, Paola & Ruiz-Arranz, Marta, 2009. "Remittances, financial development, and growth," Journal of Development Economics, Elsevier, vol. 90(1), pages 144-152, September.
    2. International Monetary Fund, 2005. "Samoa: Selected Issues and Statistical Appendix," IMF Staff Country Reports 2005/221, International Monetary Fund.
    3. International Monetary Fund, 2006. "Determinants of Emigrant Deposits in Cape Verde," IMF Working Papers 2006/132, International Monetary Fund.
    4. Mrs. Poonam Gupta, 2005. "Macroeconomic Determinants of Remittances: Evidence from India," IMF Working Papers 2005/224, International Monetary Fund.
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