Person:
Zeufack, Albert G.

Office of the Chief Economist for Africa Region
Loading...
Profile Picture
Author Name Variants
Zeufack, Albert (ed.)
Fields of Specialization
Micro-foundations of macroeconomics
Degrees
ORCID
External Links
Departments
Office of the Chief Economist for Africa Region
Externally Hosted Work
Contact Information
Last updated: April 3, 2023
Biography
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 11 Scopus

Publication Search Results

Now showing 1 - 1 of 1
Loading...
Thumbnail Image
Publication

Fiscal Multipliers over the Growth Cycle : Evidence from Malaysia

2012-03-01, Rafiq, Sohrab, Zeufack, Albert

This paper explores the stabilisation properties of fiscal policy in Malaysia using a model incorporating nonlinearities into the dynamic relationship between fiscal policy and real economic activity over the growth cycle. The paper also investigates how output multipliers for government purchases may alter for different components of government spending. The authors find that fiscal policy in Malaysia has become increasingly pro-cyclical over the last 25 years and establish that the size of fiscal multipliers tend to change over the growth cycle. A 1 Malaysian Ringgit rise in government (investment) spending leads to a maximum output multiplier of around 2.7 during growth recessions, and around 2 in normal times. The returns to government spending in Malaysia are greater when the focus is on public investment, as opposed to consumption. Changes in tax policy are less effective in stimulating economic activity than direct government spending. These results provide empirical backing to conjectures in the recent literature implying that procyclicality in fiscal policy reduces the effectiveness of fiscal actions in emerging markets.