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Has Growth in Senegal After the 1994 Devaluation Been Pro-Poor?

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  • Azam, Jean-Paul
  • Dia, Magueye
  • Tsimpo, Clarence
  • Wodon, Quentin

Abstract

The devaluation of the CFA Franc in 1994 generated a public investment boom in Senegal. The increase in public investment was made possible thanks to an improved budgetary situation related to the reduction in real terms of the public wage bill which had been too large for some time. The rise in public investment was subsequently accompanied by a (smaller) increase in private investment due in part to the attractiveness of Senegal as a place to do business within West Africa, at least compared to other West African nations. In turn, higher public, and to some extent private, investment led to higher growth rates and substantial poverty reduction, with the share of the population living in poverty declining from 67.9 to 57.1 percent. Poverty in urban areas was reduced faster than in rural areas, as most of the investment benefited the manufacturing and services sectors. Also, a few years of poor rainfall in the second half of the 1990s coupled with an initial drop in the real prices of crops in the aftermath of the devaluation affected negatively rural incomes. As a result, while virtually all segments of the population (including the rural poor) benefited from improved standards of living in 2001 as compared to 1994, growth was not strictly speaking “pro-poor” because the growth in consumption per equivalent adult in the upper half of the distribution was larger than that observed among the poor.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 11110.

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Date of creation: Jan 2007
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Handle: RePEc:pra:mprapa:11110

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Keywords: Poverty; Senegal; devaluation; pro-poor;

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References

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  1. Foster, James & Greer, Joel & Thorbecke, Erik, 1984. "A Class of Decomposable Poverty Measures," Econometrica, Econometric Society, vol. 52(3), pages 761-66, May.
  2. Jean Paul Azam & Bruno Biais & Magueye Dia, 2004. "Privatisation versus Regulation in Developing Economies: The Case of West African Banks," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 13(3), pages 361-394, September.
  3. Azam, Jean-Paul, 1993. "The 'Cote d'Ivoire' model of endogenous growth," European Economic Review, Elsevier, vol. 37(2-3), pages 566-576, April.
  4. Azam, Jean-Paul, 1997. "Public Debt and the Exchange Rate in the CFA France Zone," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 6(1), pages 54-84, March.
  5. Azam, Jean-Paul & Dia, Magueye & N'Guessan, Tchetche, 2002. "Telecommunications sector reforms in Senegal," Policy Research Working Paper Series 2894, The World Bank.
  6. Rama, Martin, 1998. "Wage misalignment in CFA countries: are labor market policies to blame?," Policy Research Working Paper Series 1873, The World Bank.
  7. Ravallion, Martin & Shaohua Chen, 2001. "Measuring pro-poor growth," Policy Research Working Paper Series 2666, The World Bank.
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Cited by:
  1. Dorothée Boccanfuso & Jean Bosco Ki & Caroline Ménard, 2009. "Pro-Poor Growth Measurements in a Multidimensional Model: A Comparative Approach," Cahiers de recherche 09-22, Departement d'Economique de la Faculte d'administration à l'Universite de Sherbrooke.
  2. John Cockburn & Erwin Corong & Bernard Decaluwé & Ismaël Fofana & Véronique Robichaud, 2010. "The Gender and Poverty Impacts of Trade Liberalization in Senegal," Cahiers de recherche 1013, CIRPEE.
  3. Alexei Kireyev, 2013. "Inclusive Growth and Inequality in Senegal," IMF Working Papers 13/215, International Monetary Fund.
  4. Djibril Ndoye & Franck Adoho & Prospère Backiny-Yetna & Mariama Fall & Papa Thiecouta Ndiaye & Quentin Wodon, 2009. "Tendance et profil de la pauvreté au Sénégal de 1994 à 2006," Perspective Afrique, Association Africaine pour les Sciences sociales, vol. 4(1-3), pages 1-29.
  5. Fall, Abdou & Salmon, Léa & Wodon, Quentin, 2010. "Impact sur la pauvreté et perceptions de la crise économique au Sénégal: Analyses quantitative et qualitative
    [Impact on Poverty and Perceptions of the Economic Crisis in Senegal: Quantitative
    ," MPRA Paper 34417, University Library of Munich, Germany.

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