Due in part to 40 years of cyclical violence, economic growth in Burundi has remained well below the sub-Saharan Africa average, and Burundi is now the third poorest country in the world. The status quo is unacceptable, and it is essential that the Government drive the changes needed to achieve...

Due in part to 40 years of cyclical violence, economic growth in Burundi has remained well below the sub-Saharan Africa average, and Burundi is now the third poorest country in the world. The status quo is unacceptable, and it is essential that the Government drive the changes needed to achieve...

Our panel data analysis (1988-2002) of a sample of 31 less developed countries (LDCs) shows that the stock market capitalization as a percentage of GDP- an important indicator of stock market development- has no relationship with the growth rates of gross fixed capital formation (GGKF). Our time...

The present study examines the relationship between openness (trade-GDP ratio) and growth. Our cross-country panel data analysis of a sample 51 countries of the South during 1981-2002 shows that for only 11 rich and highly trade-dependent countries a higher real growth is associated with a...

This paper analyses the relationship between financial development (as measured by expansion of domestic credit to private sector relative to GDP) and growth for a sample of 65 less developed countries over a long period, 1980-2006. Using causality tests at various lag-orders we find a strong...