Economists have long been questioning the usefulness of the traditional, highly regulatory international commodity policy. In recent years, the failure of this policy has become evident. Could price and earnings stabilisation through price risk management instruments represent a viable alternative?

Can process conditionality really enhance poverty reduction in developing countries? This question is addressed in the framework of a politico-economic model considering political distortions both on the recipient and on the donor side. It turns out that process conditionality is a very useful...

Applying the general question of aid effectiveness to the sector of education, this paper reveals an overall positive effect of development assistance on primary enrolment. However, even the most optimistic estimates clearly show that at any realistic rate of growth, aid will never be able to...

Variations of bilateral aid flows are difficult to explain on the basis of official development objectives or recipient need. At the example of US aid to Pakistan, this paper suggests alternative political economic explanations, notably the relevance of ethnic lobbying and the relevance of US...

Donor agencies invest considerable financial and human resources to evaluate the outcome of their development activities. To derive institutional conditions conducive to an efficient use of these resources, we develop a multi-level principal-agent model focusing on the various interests of the...

As opposed to many other school inputs, textbooks have frequently been demonstrated to significantly foster student achievement. Using the rich data set provided by the 'Program on the Analysis of Education Systems' (PASEC) for five francophone, sub-Saharan African countries, this paper goes...

Only three years after its initial endorsement by the World Bank and the IMF in 1996, the Heavily Indebted Poor Country (HIPC) - Initiative was considerably altered and enhanced. How did this change come about? Neither developments in economic theory, nor empirical evidence of changed...