This is a Working Paper and the author would welcome any comments on the present text. Citations ... more This is a Working Paper and the author would welcome any comments on the present text. Citations should refer to a Working Paper of the International Monetary Fund, mentioning the author, and the date of issuance. The views expressed are those of the author and do not necessarily represent those of the Fund.
Policy makers in the MENAP region have been formulating policies and designing programs to develo... more Policy makers in the MENAP region have been formulating policies and designing programs to develop small and medium sized enterprises (SMEs) with a view to create jobs and achieve inclusive growth. But while the programs have helped increase the number of enterprises, growth of SMEs continues to face barriers to growth. As a result, microenterprises predominate and SMEs contribution to employment remains below potential. Partial implementation of reforms explain some of the underperformance, but frictions in strategy design also played an important role. Sustaining current reforms is, therefore, not sufficient to achieve inclusive growth. Digital technologies have potential to boost SMEs productivity and growth and economies are rapidly digitalizing, thus SMEs need to embrace digital solutions to compete and survive. Therefore, for SMEs to be effective engines of inclusive growth, a rethinking of the SME development strategy is needed that makes SMEs’ digital transformation a priority.
This is a Working Paper and the author would welcome any comments on the present text. Citations ... more This is a Working Paper and the author would welcome any comments on the present text. Citations should refer to a Working Paper of the International Monetary Fund, mentioning the author, and the date of issuance. The views expressed are those of the author and do not necessarily represent those of the Fund.
Fintech, Inclusive Growth and Cyber Risks: A Focus on the MENAP and CCA Regions by Inutu Lukonga ... more Fintech, Inclusive Growth and Cyber Risks: A Focus on the MENAP and CCA Regions by Inutu Lukonga IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
Consumer protection and financial literacy are essential pillars of a well functioning and stable... more Consumer protection and financial literacy are essential pillars of a well functioning and stable financial system. As the global financial crisis demonstrated, inadequate attention to consumer protection and financial literacy can lead to financial instability. Though Shari'ah principles provide a strong foundation for consumer protection, the principles alone cannot provide adequate protection because not all providers are guided by ethical precepts and the practices have deviated from the principles. To safeguard the stability of the Islamic finance industry, consumer protection frameworks that cater to the specifics of Islamic financial products should be an integral part of regulatory frameworks.
Fintech, Inclusive Growth and Cyber Risks: Focus on the MENAP and CCA Regions, Sep 11, 2018
Fintech, Inclusive Growth and Cyber Risks: A Focus on the MENAP and CCA Regions by Inutu Lukonga ... more Fintech, Inclusive Growth and Cyber Risks: A Focus on the MENAP and CCA Regions by Inutu Lukonga IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
... Nigeria's industrial policy was inward-looking, with a heavy emphasis on protection ... more ... Nigeria's industrial policy was inward-looking, with a heavy emphasis on protection and government ... trols,2 which bred an uncompetitive manufacturing 'The terms "Government," "fiscal deficit," and ... km 68.0 89.9 110.5 22.4 77.6 Health Infant mortality Thousands/live births III 99 ...
Policy makers in the MENAP region have been formulating policies and designing programs to develo... more Policy makers in the MENAP region have been formulating policies and designing programs to develop small and medium sized enterprises (SMEs) with a view to create jobs and achieve inclusive growth. But while the programs have helped increase the number of enterprises, growth of SMEs continues to face barriers to growth. As a result, microenterprises predominate and SMEs contribution to employment remains below potential. Partial implementation of reforms explain some of the underperformance, but frictions in strategy design also played an important role. Sustaining current reforms is, therefore, not sufficient to achieve inclusive growth. Digital technologies have potential to boost SMEs productivity and growth and economies are rapidly digitalizing, thus SMEs need to embrace digital solutions to compete and survive. Therefore, for SMEs to be effective engines of inclusive growth, a rethinking of the SME development strategy is needed that makes SMEs’ digital transformation a priority.
This paper discusses the challenges posed by low oil prices in the MENA and CCA regions, the adju... more This paper discusses the challenges posed by low oil prices in the MENA and CCA regions, the adjustment policies adopted so far, and remaining adjustment needs and future risks.
Consumer protection and financial literacy are essential pillars of a well functioning and stable... more Consumer protection and financial literacy are essential pillars of a well functioning and stable financial system. As the global financial crisis demonstrated, inadequate attention to consumer protection and financial literacy can lead to financial instability. Though Shari’ah principles provide a strong foundation for consumer protection, the principles alone cannot provide adequate protection because not all providers are guided by ethical precepts and the practices have deviated from the principles. To safeguard the stability of the Islamic finance industry, consumer protection frameworks that cater to the specifics of Islamic financial products should be an integral part of regulatory frameworks.
Fintech, Inclusive Growth and Cyber Risks: A Focus on the MENAP and CCA Regions by Inutu Lukonga ... more Fintech, Inclusive Growth and Cyber Risks: A Focus on the MENAP and CCA Regions by Inutu Lukonga IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
This paper reviews Nigeria's non-oil export performance during the period 1970-90, analyz... more This paper reviews Nigeria's non-oil export performance during the period 1970-90, analyzes the factors underlying the dismal performance, and estimates the supply-price elasticity of the exports for both the short and long run. A distinguishing feature of the analysis is the incorporation of the effect of domestic demand in the export supply equation for agricultural commodity exports -- a feature
This is a Working Paper and the author would welcome any comments on the present text. Citations ... more This is a Working Paper and the author would welcome any comments on the present text. Citations should refer to a Working Paper of the International Monetary Fund, mentioning the author, and the date of issuance. The views expressed are those of the author and do not necessarily represent those of the Fund.
Policy makers in the MENAP region have been formulating policies and designing programs to develo... more Policy makers in the MENAP region have been formulating policies and designing programs to develop small and medium sized enterprises (SMEs) with a view to create jobs and achieve inclusive growth. But while the programs have helped increase the number of enterprises, growth of SMEs continues to face barriers to growth. As a result, microenterprises predominate and SMEs contribution to employment remains below potential. Partial implementation of reforms explain some of the underperformance, but frictions in strategy design also played an important role. Sustaining current reforms is, therefore, not sufficient to achieve inclusive growth. Digital technologies have potential to boost SMEs productivity and growth and economies are rapidly digitalizing, thus SMEs need to embrace digital solutions to compete and survive. Therefore, for SMEs to be effective engines of inclusive growth, a rethinking of the SME development strategy is needed that makes SMEs’ digital transformation a priority.
This is a Working Paper and the author would welcome any comments on the present text. Citations ... more This is a Working Paper and the author would welcome any comments on the present text. Citations should refer to a Working Paper of the International Monetary Fund, mentioning the author, and the date of issuance. The views expressed are those of the author and do not necessarily represent those of the Fund.
Fintech, Inclusive Growth and Cyber Risks: A Focus on the MENAP and CCA Regions by Inutu Lukonga ... more Fintech, Inclusive Growth and Cyber Risks: A Focus on the MENAP and CCA Regions by Inutu Lukonga IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
Consumer protection and financial literacy are essential pillars of a well functioning and stable... more Consumer protection and financial literacy are essential pillars of a well functioning and stable financial system. As the global financial crisis demonstrated, inadequate attention to consumer protection and financial literacy can lead to financial instability. Though Shari'ah principles provide a strong foundation for consumer protection, the principles alone cannot provide adequate protection because not all providers are guided by ethical precepts and the practices have deviated from the principles. To safeguard the stability of the Islamic finance industry, consumer protection frameworks that cater to the specifics of Islamic financial products should be an integral part of regulatory frameworks.
Fintech, Inclusive Growth and Cyber Risks: Focus on the MENAP and CCA Regions, Sep 11, 2018
Fintech, Inclusive Growth and Cyber Risks: A Focus on the MENAP and CCA Regions by Inutu Lukonga ... more Fintech, Inclusive Growth and Cyber Risks: A Focus on the MENAP and CCA Regions by Inutu Lukonga IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
... Nigeria's industrial policy was inward-looking, with a heavy emphasis on protection ... more ... Nigeria's industrial policy was inward-looking, with a heavy emphasis on protection and government ... trols,2 which bred an uncompetitive manufacturing 'The terms "Government," "fiscal deficit," and ... km 68.0 89.9 110.5 22.4 77.6 Health Infant mortality Thousands/live births III 99 ...
Policy makers in the MENAP region have been formulating policies and designing programs to develo... more Policy makers in the MENAP region have been formulating policies and designing programs to develop small and medium sized enterprises (SMEs) with a view to create jobs and achieve inclusive growth. But while the programs have helped increase the number of enterprises, growth of SMEs continues to face barriers to growth. As a result, microenterprises predominate and SMEs contribution to employment remains below potential. Partial implementation of reforms explain some of the underperformance, but frictions in strategy design also played an important role. Sustaining current reforms is, therefore, not sufficient to achieve inclusive growth. Digital technologies have potential to boost SMEs productivity and growth and economies are rapidly digitalizing, thus SMEs need to embrace digital solutions to compete and survive. Therefore, for SMEs to be effective engines of inclusive growth, a rethinking of the SME development strategy is needed that makes SMEs’ digital transformation a priority.
This paper discusses the challenges posed by low oil prices in the MENA and CCA regions, the adju... more This paper discusses the challenges posed by low oil prices in the MENA and CCA regions, the adjustment policies adopted so far, and remaining adjustment needs and future risks.
Consumer protection and financial literacy are essential pillars of a well functioning and stable... more Consumer protection and financial literacy are essential pillars of a well functioning and stable financial system. As the global financial crisis demonstrated, inadequate attention to consumer protection and financial literacy can lead to financial instability. Though Shari’ah principles provide a strong foundation for consumer protection, the principles alone cannot provide adequate protection because not all providers are guided by ethical precepts and the practices have deviated from the principles. To safeguard the stability of the Islamic finance industry, consumer protection frameworks that cater to the specifics of Islamic financial products should be an integral part of regulatory frameworks.
Fintech, Inclusive Growth and Cyber Risks: A Focus on the MENAP and CCA Regions by Inutu Lukonga ... more Fintech, Inclusive Growth and Cyber Risks: A Focus on the MENAP and CCA Regions by Inutu Lukonga IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
This paper reviews Nigeria's non-oil export performance during the period 1970-90, analyz... more This paper reviews Nigeria's non-oil export performance during the period 1970-90, analyzes the factors underlying the dismal performance, and estimates the supply-price elasticity of the exports for both the short and long run. A distinguishing feature of the analysis is the incorporation of the effect of domestic demand in the export supply equation for agricultural commodity exports -- a feature
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