Zeufack, Albert G.

Office of the Chief Economist for Africa Region
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Zeufack, Albert (ed.)
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Micro-foundations of macroeconomics
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Last updated April 3, 2023
Albert G. Zeufack is the World Bank Country Director for Angola, Burundi, the Democratic Republic of Congo, and Sao Tome and Principe. Prior to this assignment, from 2016 to 2022, Dr. Zeufack held the position of Chief Economist for the World Bank’s Africa region. A Cameroonian national, Dr. Zeufack joined the World Bank in 1997 as a Young Professional and started his career as a research economist in the macroeconomics division of the research department. Since then, he has held several positions in the World Bank’s Africa, East Asia and Pacific, and Europe and Central Asia regions. Between 2008 and 2012, when on leave from the World Bank, he served as Director of Research and Investment Strategy/Chief Economist for Khazanah Nasional Berhad, a Malaysian Sovereign Wealth Fund. He previously worked as Director of Research at the Natural Resource Governance Institute, and before that he co-founded the Natural Resource Charter.
Citations 9 Scopus

Publication Search Results

Now showing 1 - 4 of 4
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    Market Access, Supplier Access, and Africa's Manufactured Exports : An Analysis of the Role of Geography and Institutions
    (World Bank, Washington, DC, 2006-06) Elbadawi, Ibrahim ; Mengistae, Taye ; Zeufack, Albert
    In a large cross-country sample of manufacturing establishments drawn from 188 cities, average exports per establishment are smaller for African firms than for businesses in other regions. The authors show that this is mainly because, on average, African firms face more adverse economic geography and operate in poorer institutional settings. Once they control for the quality of institutions and economic geography, what in effect is a negative African dummy disappears from the firm level exports equation they estimate. One part of the effect of geography operates through Africa's lower "foreign market access:" African firms are located further away from wealthier or denser potential export markets. A second occurs through the region's lower "supplier access:" African firms face steeper input prices, partly because of their physical distance from cheaper foreign suppliers, and partly because domestic substitutes for importable inputs are more expensive. Africa's poorer institutions reduce its manufactured exports directly, as well as indirectly, by lowering foreign market access and supplier access. Both geography and institutions influence average firm level exports significantly more through their effect on the number of exporters than through their impact on how much each exporter sells in foreign markets.
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    Economic Geography and Manufacturing Productivity in Africa : An Analysis of Firm Level Data
    ( 2009-04) Elbadawi, Ibrahim ; Mengistae, Taye ; Temesge, Tilahun ; Zeufack, Albert
    We compare samples of textiles and garments producers across groups of countries to find that, in general, productivity is far lower in Sub-Saharan Africa than it is in India. Indian manufacturers in turn are significantly less productive than their counterparts in Morocco, while producers in some SSA countries do match or exceed the Indian standard. The paper assesses the importance of geography as a possible factor in these gaps compared to such possible causes as trade policy and the quality of public institutions. It turns out that both institutions and trade policy are strong influences on country productivity averages. However, geography is also as powerful an influence in as far as it affects access to export markets and to input supplies.
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    Risk Sharing in Labor Markets
    (Washington, DC: World Bank, 2003-09) Bigsten, Arne ; Collier, Paul ; Dercon, Stefan ; Fafchamps, Marcel ; Gauthier, Bernard ; Gunning, Jan Willem ; Oduro, Abena ; Oostendorp, Remco ; Pattillo, Cathy ; Soderbom, Mans ; Teal, Francis ; Zeufack, Albert
    Empirical work in labor economics has focused on rent sharing as an explanation for the observed correlation between wages and profitability. The alternative explanation of risk sharing between workers and employers has not been tested. Using a unique panel data set for four African countries, Authors find strong evidence of risk sharing. Workers in effect offer insurance to employers: when firms are hit by temporary shocks, the effect on profits is cushioned by risk sharing with workers. Rent sharing is a symptom of an inefficient labor market. Risk sharing; by contrast, can be seen as an efficient response to missing markets. Authors evidence suggests that risk sharing accounts for a substantial part of the observed effect of shocks on wages.
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    Learning to Export : Evidence from Moroccan Manufacturing
    ( 2008) Fafchamps, Marcel ; El Hamine, Said ; Zeufack, Albert
    This paper tests two alternative models of selection into export: lower costs and better market familiarity. Both are potentially subject to learning-by-doing, but differ in the type of experience required. Learning to produce at lower cost--what we call productivity learning--depends on general experience, while learning to design products that appeal to foreign consumers--market learning--depends on export experience. Using panel and cross-section data on Moroccan manufacturers, we uncover evidence of market learning but little is evidence that productivity learning is what enables firms to export. These findings are consistent with the concentration of Moroccan manufacturing exports in consumer items, i.e., the garment, textile, and leather sectors. It is the young firms that export. Most do so immediately after creation. We also find that, among exporters, new products are exported very rapidly after production has begun. The share of exported output nevertheless increases for 2-3 years after a new product is introduced, which is indicative of some learning. Old firms are unlikely to switch to exports, even in response to changes in macro incentives.