Prof Christopher Adam

Professor of Development Economics and Head of Department

Christopher Adam's research is on the macroeconomics of low-income countries, in particular those of Africa, with a focus on monetary economics and public finance; and growth and structural change in low-income countries. His work uses methods of quantitative macroeconomics including stochastic and deterministic general equilibrium techniques.

Christopher Adam is Lead Academic for the International Growth Centre (IGC) programme in Tanzania. He is also a Visiting Scholar at the International Monetary Fund (IMF) as member of the DFID-IMF research program on the macroeconomics of low-income countries. From 2003-05 he served as external Macroeconomic Adviser to the Policy Division at the Department for International Development (DFID) and represented DFID as Vice Chair of the African Economic Research Consortium from 2006 to 2016. In 2011-12 he served as Special Advisor to the House of Lords Economic Affairs Committee Inquiry into Aid Effectiveness.

He is currently a co-editor of the Oxford Review of Economic Policy and an associate editor of the Journal of Development Economics and serves as a member of the editorial board of Oxford Economic Papers, Oxford Development Studies and the Tanzania Economic Review.

Research
Teaching
Publications
News
In the media
Transportation costs, food markets, and structural transformation in Tanzania
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Macroeconomic dynamics in low-income countries
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Public investment and natural disasters
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Africa: Policies for Prosperity
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Christopher Adam teaches the core macroeconomic theory course on the MSc in Economics for Development and in some years offers a module on the Development Economics paper on monetary and exchange rate policies.

Research Students supervised

Cinar Baymul
Research Student
Ji Eun Choi
Research Student
Jamelia Harris
Research Student (PRS)
Tara Iyer
Economics Department
Thomas McGregor
Economics Department
Mike Dawes
Economics Department

Books and monographs

Adam, Christopher (with Paul Collier, Benno Ndulu) (eds) (2017) 'Tanzania: The Path to Prosperity', Oxford: Oxford University Press
Adam, Christopher (with Paul Collier, Michael Gondwe) (eds) (2014) 'Zambia: Building Prosperity from Resource Wealth', Oxford: Oxford University Press
Adam, Christopher (with P Collier, N Ndung'u) (eds) (2010) 'Kenya: Policies for Prosperity', Oxford: Oxford University Press

Journal articles and special issues

Adam, Christopher (with D Gollin, David Bevan) (2016) 'Rural-Urban Linkages, Transport Costs and Public Investment: The Case of Tanzania', World Development
Adam, Christopher (with U Panizza, A Presbitiero, D Vines) (2015) 'Financing for Development: Editors' Introduction', Oxford Review of Economic Policy 31 (3-4) 259-67
Adam, Christopher (with David Bevan) (2015) 'Fiscal Reforms and Public Investment in Africa', Journal of African Economies 24 (s2) 16-42
Adam, Christopher (with Douglas Gollin) (2015) 'Editors' Introduction: The Economics of the Global Food and Agriculture System: Introduction', Oxford Review of Economic Policy 31 (1) 1-4
Adam, Christopher (with D Cobham, K Mayhew) (2013) 'The Economic Record of the 1997-2010 Labour Government: An Assessment', Oxford Review of Economic Policy 29 (1) 1-24
Adam, Christopher (2013) 'Coping with adversity: the macroeconomic management of natural disasters', Environmental Science and Policy 27 (1) 99-111
Adam, Christopher (with P Subacchi, D Vines) (2012) 'International macroeconomic policy coordination: an overview', Oxford Review of Economic Policy 28 (3) 395-410
Adam, Christopher (2011) 'On the Macroeconomic Managment of Food Prices Shocks in Low Income Countries', Journal of African Economies 20 63-99
Adam, Christopher (with E Buffie, S O'Connell) (2010) 'Fiscal Inertia, Donor Credibility, and the Monetary Management of Aid Surges', Journal of Development Economics 93(2) pp 287-98
Adam, Christopher (with S O'Connell, E Buffie, C Pattillo) (2009) 'Monetary Policy Rules for Managing Aid Surges in Africa', Review of Development Economics 13(3) pp 464-90
Adam, Christopher (with S Dercon) (2009) 'The Assessment: The Politcal Economy of Development', Oxford Review of Economic Policy 29(2) pp 1-21
Adam, Christopher (with D Cobham) (2009) 'Using Real-Time Output Gaps to Examine Past and Future Policy Choices', National Institute Economic Review 210(1) pp 98-110
Adam, Christopher (with D Vines) (2009) 'Remaking Macroeconomic Policy after the Global Financial Crisis: A Balance-Sheet Approach', Oxford Review of Economic Policy 25(4) pp 507-52
Adam, Christopher (with E Buffie, S O'Connell and C Patillo) (2008) 'Riding the Wave: Monetary Responses to Aid Surges in Low-Income Countries', European Economic Review 52(8) pp 1378-95
Adam, Christopher (with P Collier, V Davies) (2008) 'Post-Conflict Monetary Reconstruction', World Bank Economic Review 22(1) pp 87-112
Adam, Christopher (with B McPake, K G Hanson) (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 26 447-62
Adam, Christopher (with D P Cobham) (2007) 'Exchange Rate Regimes and Trade', The Manchester School 75(s1) 44-63
Adam, Christopher (with D Bevan) (2006) 'Aid and the Supply Side: Public Investment, Export Performance and Dutch Disease in Low Income Countries', The World Bank Economic Review 20(2) 261-90
Adam, Christopher (with D Bevan) (2005) 'Fiscal Deficits and Growth in Developing Countries', Journal of Public Economics 89(4) 571-97
Adam, Christopher (with S O'Connell) (2004) 'Aid Versus Trade Revisited: donor and Recipient Policies in the Presence of Learning-by-doing', The Economic Journal 114(492) 150-73
Adam, Christopher (with E Buffie, S O'Connell, C Pattillo) (2004) 'Exchange Rate Policy and the Management of Official and Private Capital Flows in Africa', IMF Staff Papers 51 126-60
Adam, Christopher (1999) 'Effets de portefeuille, marche financiers et modeles EGC dans les pays en voie de developpement', Revue d'Economie du Developpement (November)
Adam, Christopher (with S O'Connell) (1999) 'Aid Taxation and Development in Sub-Saharan Africa', Economics and Politics (October)
Adam, Christopher (1999) 'Asset Portfolios and Credit Rationing: Evidence from Kenya', Economica 66
Adam, Christopher (1999) 'Financial Liberalization and Currency Demand in Zambia', Journal of African Economies (October)
Adam, Christopher (1999) 'Liberalization, Policy Reform and the Demand for Money in Africa (Guest Editor's Introduction)', Journal of African Economies (October)
Adam, Christopher (with B Ndulu, N Sowa) (1996) 'Financial Liberalization, Exchange Rate Unification and Seigniorage in Kenya Ghana and Tanzania', Journal of Development Studies 32 (4)
Adam, Christopher (1995) 'Adjustment in Africa: A Review Article', The World Economy 18 (5)
Adam, Christopher (1995) 'Fiscal Adjustment, Financial Liberalization, and the Dynamics of Inflation: Some Evidence from Zambia', World Development 23 (5)

Chapters

Adam, Christopher (with P Kessy, B Langford) (2016) 'Evolving Monetary Policy Frameworks in Low Income Countries: The Tanzania Experience'. In David Cobham (ed) Monetary Analysis in Central Banks , Palgrave Macmillan
Adam, Christopher (with P Kessy, C Kombe and S O'Connell) (2013) 'Exchange Rate Arrangements in the Transition to East African Monetary Union'. In O Williams (ed) The Quest for Regional Integration in East Africa , IMF and OUP
Adam, Christopher (2013) 'Dutch Disease and Foreign Aid'. In Steven N Durlauf, Lawrence E Blume (eds) The New Palgrave Dictionary of Economics , (Online Edition) Palgrave Macmillan
Adam, Christopher (2012) 'Exchange Rate Policy'. In E Aryeetey, S Devarajan, R Kanbur (eds) The Oxford Companion to the Economics of Africa , Basingstoke: Palgrave Macmillan
Adam, Christopher (with A Musonda) (2011) 'Copper Mining in Zambia: From Collapse to Recovery'. In P Collier, A Venables (eds) Plundered Nations? Successes and Failures in Natural Resource Extraction , Basingstoke: Palgrave Macmillan
Adam, Christopher (with B O Maturu, N Ndung'u, S O'Connell) (2010) 'Building a Kenyan Monetary Regime for the 21st Century'. In C S Adam, P Collier, N Ndung'u (eds) Kenya: Policies for Prosperity , Oxford: Oxford University Press
Adam, Christopher (with P Collier, N Ndung'u) (2010) 'Introduction'. In C S Adam, P Collier, N Ndung'u (eds) Kenya: Policies for Prosperity , Oxford: Oxford University Press
Adam, Christopher (with A Musonada) (2010) 'The Economics of the Copper Price Boom in Zambia'. In C Adam, A Frazer, N Larmer (eds) Zambia, Mining and Neoliberalism , Basingstoke: Palgrave Macmillan
Adam, Christopher (with P Collier, D Vines) (2010) 'Small Developing Countries in the International Monetary System'. In P Subacchi, J Driffil (eds) Beyond the Dollar: Rethinking the International Monetary System , London: Chatham House, Royal Institute of International Affairs
Adam, Christopher (with D Cobham) (2009) 'Alternative Exchange Rate Regimes for MENA Countries: Gravity Model Estimates of the Trade Effects'. In D Cobham, G Dibeh (eds) Monetary Policy and Central Banking in the Middle East and North Africa , London: Routledge
Adam, Christopher (with A Sinha) (2007) 'Modelling the Informal Economy in India: An Analysis of Trade Reforms'. In B Harriss-White, A Sinha (eds) Trade Liberalization and India's Informal Economy , Delhi: Oxford University Press
Adam, Christopher (with B Harriss-White) (2007) 'From Monet to Mondrian: Characterizing Informality in Field Research and Simulation Modeling'. In B Harriss-White, A Sinha (eds) Trade Liberalization and India's Informal Economy , Delhi: Oxford University Press
Adam, Christopher (with S O'Connell, E Buffie, C Patillo) (2007) 'Managing External Volatility: Central Bank Options in Low-Income Countries'. In N Batini (ed) Monetary Policy in Emerging Markets and Other Developing Countries , New York: Nova Publishers
Adam, Christopher (with B Goderis) (2007) 'Monetary Policy and Oil Price Surges in Nigeria'. In P Collier, C Soludo, C Pattillo (eds) Economic Policies for a Prosperous Nigeria , London: Palgrave Macmillan
Adam, Christopher (2006) 'Exogenous Inflows and Real Exchange Rates: Theoretical Quirk or Empirical Reality?'. In P Isard, L Lipschitz, A Mourmouras and B Yontcheva (eds) The Macroeconomic Management of Foreign Aid: Opportunities and Pitfalls , Washington, DC: International Monetary Fund
Adam, Christopher (with A Sinha) (2006) 'Trade Reforms and Informalization: Getting Behind Jobless Growth in India'. In B Guha-Khasnobis, R Kanbur (eds) Informal Labour Markets and Development , London: Palgrave Macmillan
Adam, Christopher (1999) 'Privatization in Sub-Saharan Africa: Issues in Regulation and the Macroeconomics of Transition'. In J Paulson (ed) African Economies in Transition , London: Macmillan
Adam, Christopher (with D Bevan) (1999) 'Fiscal Restraint and the Cash Budget in Zambia'. In P Collier, C Patillo (eds) Risk and Investment in Africa , London: Macmillan
Adam, Christopher (1998) 'Trade Liberalization in Zambia 1970-1995'. In A Oyijide, J W Gunning et al (eds) Trade Liberalization in Africa , London: Macmillan

Reports

Adam, Christopher (2011) 'Macroeconomic Management of Extreme Events', Paper for UK Government Foresight Project

Working papers

Adam, Christopher (with DL Bevan ) (2016) 'Financing the Reconstruction of Public Capital after a Natural Disaster', World Bank Working Paper 7718
Adam, Christopher (with B Li, S O'Connell) (2016) 'VAR meets DSGE: Uncovering the Monetary Transmission Mechanism in Low-Income Countries', IMF Working Paper 16/90
Adam, Christopher (with D L Bevan and T Ohlenburg) (2014) 'Public investment and Growth in Uganda', IGC Working Paper
Adam, Christopher (with P Montiel, W Mbowe and S O'Connell) (2012) 'Financial Architecture and the Monetary Transmission Mechanism in Tanzania', IGC Working Paper 12/0343 and Centre for the Study of African Economies, Oxford, Working Paper 2012-03
Adam, Christopher (with D Kwimbere, W Mbowe, S O'Connell) (2012) 'Food Prices and the Dynamics of Inflation in Tanzania', African Development Bank Working Paper 163
Adam, Christopher (2010) 'The Predictability and Stability of the Money Multiplier in Tanzania', IGC-Bank of Tanzania Working Paper
Adam, Christopher (with P J Kessey, J J Nyella and S A O'Connell) (2010) 'The Demand for Money in Tanzania', IGC-Bank of Tanzania Working Paper
Adam, Christopher (1999) 'The Transaction Demand for Money in Chile', Central Bank of Chile Working Paper (September)
Adam, Christopher (1999) 'A STATA Program for Implementing Kiviet's (1995) Small-Sample Correction for Dynamic Panel Data Estimators', CSAE Working Paper
Adam, Christopher (with D Bevan) (1998) 'Costs and Benefits of Incorporating Asset Markets into CGE Models: Evidence and Design Issues', Oxford University Applied Economics Discussion Paper 202
Adam, Christopher (1998) 'Aid Taxation and Development: Analytical Perspectives on Aid Effectiveness in Sub-Saharan Africa', World Bank WPS Working Paper 1885
Adam, Christopher (with J Hoddinott) (1997) 'Testing Nash Bargaining Models of Household Behaviour using Time Series Data', Oxford University Applied Economics Discussion Paper 191
25 January, 2017
New book - Tanzania: The Path to Prosperity co-edited by Christopher Adam
19 September, 2016
New World Development paper co-authored by Christopher Adam, Douglas Gollin explores public investment in Tanzania
06 October, 2014
New book - Zambia: Building Prosperity from Resource Wealth Co-edited by Christopher Adam
27 January, 2012
New Working Paper from IGC Tanzania Country Research Programme
25 Apr, 2016
'Africa needs smart macroeconomic policies to navigate headwinds'. Christopher Adam writes for The Conversation
Research interests: