The allocation of credit by banks on quot;softquot; terms to friends and relatives - often termed cronyism - rather than on the basis of quot;hardquot; market criteria in the years leading up to the Asian financial crisis of 1997-98 has been hypothesized as an important cause of the crisis....

The allocation of credit by banks on 'soft' terms to friends and relatives - often termed cronyism - rather than on the basis of 'hard' market criteria in the years leading up to the Asian financial crisis of 1997-98 has been hypothesized as an important cause of the crisis. These practices had...

The allocation of credit by banks and financial institutions on 'soft' terms to friends and relatives rather than on the basis of 'hard' market criteria in the years leading up to the East Asian crisis of 1997-98 has been widely noted. Using a detailed dataset on Thai firms prior to the crisis...

The impact of public education expenditure on human capital, the supply of different labor skills, and its macroeconomic and distributional consequences is appraised within a multisector CGE model. The model is applied to and calibrated for two Heavily Indebted Poor Countries (HIPCs), Tanzania...

The distinct features of inclusive growth within the context of sub-Saharan Africa are identified. The anatomy of growth is analysed by exploring the interrelationship among growth, inequality, and poverty. The present growth spell appears to have been relatively inclusive. The recent structural...

This paper is essentially autobiographical and describes Erik Thorbecke's journey through the history of development economics between the 1950s and the present. The paper consists of four parts. First, an introduction reviews briefly his professional career as a development economist and his...