There is surprisingly little macroeconomic empirical research which would support a presumed link between education and development. I identify three major reasons why it remains difficult to estimate the economic relevance of education as a determinant of growth and development. First, most...

This book points out that the main issues confronting the Angolan authorities in their efforts to consolidate macroeconomic stability on a sustainable basis and in promoting an improvement in the welfare of the Angolan citizens do not seem to differ significantly from those addressed in the 1990...

This book identifies the binding constraints to growth of Morocco. It applies an innovative procedure known as "growth diagnostic" and has a central finding. The Moroccan economy suffers from a too slow process of structural transformation for achieving higher growth, especially for its exports...

Afghanistan has come a long way since emerging from major conflict in late 2001. Important political milestones mandated by the Bonn Agreement (two Loya Jirgas, a new Constitution, recently the Presidential election) have been achieved. The economy has recovered strongly, growing by nearly 50...

This report is comprised of two volumes. Global Development Finance (GDF) 2009 volume one provides analysis of key trends and prospects, including coverage of the role of international banking in developing countries. Volume two provides summary and country tables and contains statistical tables...

The report starts with an introductory chapter that sets the stage for the issues and provides a short historical background on the development of the private sector in Middle East and North Africa (MENA), drawing on anecdotes and stories heard from many entrepreneurs and public officials...

The Kyrgyz Republic has made major strides in the past decade in its transition to a market-based economy. Its trade and investment policies are arguably the most liberal among the member countries of the Commonwealth of Independent States. This report is aimed at assisting authorities...

The overall impact of financial globalization on the domestic financial sector is profound. Liberalization of capital flows has effectively made domestic financial repression obsolete. The consequences have not been uniformly favorable. Following liberalization, domestic interest rates in...

The prospects for educational development are excellent in Madagascar, in light of the increasingly favorable, policy environment for the sector. Public spending for education, relative to the gross domestic product declined in the 90s, coinciding with a five-fold rise in the country's interest...

High and sustained rate of economic growth in Yemen is a necesary, though not sufficient, condition for reduction of the high incidence of poverty and for raising the living standards of Yemeni citizens. Evidence in this report suggests that the main obstacle to rapid and sustained economic...