Christopher Adam

Recent Research Papers

Papers are grouped under the following headings:

1.     Work in Progress and Recent Working Papers

1.1            IGC Working Papers

1.2            Other Working Papers

2.  Development Macroeconomics and the Economics of Africa

3.  Other Research Papers and Reports

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1.     Work in Progress and Working Papers

1.1                         IGC Working Papers


C.S.Adam, D.Bevan, D.Gollin and B.Mkenda (2012) Transport Costs, Food Markets and Structural Transformation: The Case of Tanzania (first draft mimeo)


C.S.Adam, P.Kessy, C.Kombe and S.O’Connell (2012) Exchange Rate Arrangements in the Transition to East African Monetary Union (IGC Working Paper 12/0458  and CSAE Working Paper 2012-07)


C.S.Adam, D.Kwimbere, W.Mbowe and S.O’Connell (2012) Food Prices and Inflation in Tanzania (IGC Working Paper 12/0459 )


P.Montiel C.S.Adam, W.Mbowe and S.O’Connell (2012) Financial Architecture and The Monetary Transmission Mechanism in Tanzania (IGC Working Paper 12/0343  and CSAE Working Paper 2012-07)


C.S.Adam, P.Kessy, J.Nyella and S.O’Connell (2011) The Demand for Money in Tanzania (IGC Working Paper 11/0336)


C.S.Adam and P.Kessy (2011) Assessing the stability and predictability of the money multiplier in the EAC: the case of Tanzania (IGC Working Paper 11/0332).


1.2                         Other Working Papers


C.S.Adam  and L.Crawfurd (2012)  Exchange Rate Options for South Sudan (mimeo prepared for DFID-Sudan)


C.S.Adam (2009) The Conduct of Monetary Policy in Uganda: An Assessment (mimeo prepared for EPRC and Bank of Uganda)


C.S.Adam (2008) Factors in the Choice of Monetary Policy Regime (seminar paper, Central Bank of Nigeria Symposium on Monetary Policy and Inflation Targeting, Abuja, Jan 19, 2008).

2.  Development Macroeconomics and the Economics of Africa


C.S.Adam and A.Simpasa (2011) “Copper Mining in Zambia: from collapse to recovery” in P.Collier and A.J.Venables (eds) Plundered Nations? Successes and Failures in Natural Resource Extraction.(Palgrave Macmillan).(full working paper version Oxcarre Working Paper 36)


C.S.Adam (2011) “Exchange Rate Policy” in Aryeetey, E., S.Devarajan, R.Kanbur and L.Kasekende (eds) The African Companion to Economics (Oxford University Press). (pre-proof draft)


C.S.Adam, P.Collier and N.Ndung’u (2010) Kenya: Policies for Prosperity Oxford University Press  (introduction)


C.S.Adam, B.O.Maturu, N.Ndung’u and S.O’Connell (2010) “Building a Kenyan Monetary Regime for the 21st Century” in C.S.Adam, P.Collier and N.Ndung’u (eds) Kenya: Policies for Prosperity Oxford University Press. (pre-proof draft)


E.Buffie, S.O’Connell and C.S.Adam (2010) “Fiscal Inertia, Donor Credibility, and the Monetary Management of Aid Surges” Journal of Development Economics 93(2), 287-298.


C.S.Adam and A.Musonda (2010) “The Economics of the Copper Price Boom in Zambia” in A. Frazer and N.Larmer (eds) Zambia, Mining and Neoliberalism (London: Palgrave MacMillan).


C.S.Adam, S.O’Connell and E.Buffie (2009) “Aid Volatility, Monetary Policy Rules and the Capital Account in African Economies  in G.Hammond, R.Kanbur and E.Prasad (eds) Monetary Policy Frameworks for Emerging Markets (London, Edward Elgar).


C.S.Adam, S.O’Connell, E.Buffie and C.Pattillo (2009) “Monetary Policy Rules for Managing Aid Surges in Africa”, Review of Development Economics vol 13(3), 464-490.    An extended version of this paper is published as IMF Working Paper, 07/180.


E.Buffie, C.S.Adam, S.A. O’Connell and C. Pattillo (2008), “Riding the Wave: Monetary Responses to Aid Surges in Low-Income Countries” European Economic Review vol 52(8) pp 1378-1395.


C.S.Adam, Paul Collier and Victor Davies (2008), “Post-Conflict Monetary Reconstruction”, World Bank Economic Review vol 22(1) pp 87-112


C.S.Adam and B.Goderis (2007) “Monetary Policy and Oil Price Surges in Nigeria”, in P.Collier, Charles C Soludo and Catherine Pattillo (eds), Economic Policies for a Prosperous Nigeria, (London ,Palgrave Macmillan).(pre-proof version)


S.O’Connell, C.S.Adam, E.Buffie and C.Pattillo (2007), “Managing External Volatility: Central Bank Options in Low-Income Countries”, lead paper in Nicoletta Batini (ed), Monetary Policy in Emerging Markets and Other Developing Countries, (New York, Nova Publishers, New York). (pre-proof version)


C.S.Adam and D.L.Bevan (2006), “Aid and the Supply Side: Public Investment, Export Performance and the Dutch Disease in Low-Income Countries”, World Bank Economic Review, volume 20, pp 261-290. [GAMS files available here]


C.S.Adam (2006), “Exogenous Inflows and Real Exchange Rates: Theoretical Quirk or Empirical Reality?” in Peter Isard, Leslie Lipschitz, Alexandros Mourmouras and Boriana Yontcheva (eds) The Macroeconomic Management of Foreign Aid: Opportunities and Pitfalls, (Washington DC: International Monetary Fund).(pre-proof draft)


C.S.Adam and D.L. Bevan (2005), “Fiscal Deficits and Growth in Developing Countries”, Journal of Public Economics, vol 89 pp 571-597.


C.S.Adam, E. Buffie, S.A. O’Connell and C. Pattillo (2004), “Exchange Rate Policy and Management of Official and Private Capital Flows in Africa”, IMF Staff Papers (Vol 51, 2004


C.S.Adam and S.A. O’Connell (2004), “Aid versus Trade Revisited: Donor and Recipient Policies in the Presence of Learning-by-Doing”, Economic Journal, volume 114, pp150-173.

C.S.Adam, D.L. Bevan, and G.Chambas (2001), “Exchange Rate Regimes and Revenue Performance in Sub-Saharan Africa”, Journal of Development Economics, vol 64(2) pp 173-213.


C.S.Adam and S.A. O’Connell (1999), “Aid, Taxation and Development in Sub-Saharan Africa”, Economics and Politics, vol 11(3) pp 225-253.


3.  Other Research Papers and Reports


C.S.Adam (2012) “Coping with adversity: the macroeconomic management of natural disasters” Environmental Science and Policy


C.S.Adam and D.Vines (2009) “Remaking macroeconomic policy after the global financial crisis: a balance-sheet approach” Oxford Review of Economic Policy 25(4) pp 507-552.


C.S.Adam, P.Collier and D.Vines (2010) “Small Developing Countries in the International Monetary System” in P.Subacchi and J.Driffil (eds)  Beyond the Dollar: Rethinking the International Monetary System (Chatham House: Royal Institute of International Affairs.


C.S.Adam and D. Cobham (2009) “Using Real-Time Output Gaps to Examine Past and Future Policy Choices” National Institute Economic Review No. 210, October, pp1-13.


C.S.Adam and S. Dercon (2009) “The Assessment: The Political Economy of Development” Oxford Review of Economic Policy  25(2) pp 1- 21


C.S. Adam and D. Cobham (2009) “Alternative exchange rate regimes for MENA countries: gravity model estimates of the trade effects” in D.Cobham and G.Dibeh (eds) Monetary Policy and Central Banking in the Middle East and North Africa (London: Routledge).


C.S.Adam and D.P.Cobham (2007) “Exchange Rate Regimes and Trade”, The Manchester School vol 75 (s1) 44-63.


B.McPake, K.G.Hanson, and C.S.Adam (2007), “Two-tier charging strategies in public hospitals: implications for intra-hospital resource allocation and equity of access to hospital services”, Journal of Health Economics, vol 26, pp447-462.


C.S.Adam, D.P. Cobham, and E.Girardin. (2005), “External influences and institutional constraints on UK monetary policy, 1985-2003”. Oxford Bulletin of Economics and Statistics 67(4).