Two-fifths of the household enterprises that operated in Vietnam in 1993 were still in business in 1998, after five years of rapid economic growth. Constrained by lack of education, credit, and effective demand in poor areas, and squeezed by the lure of wage labor in rich areas, household...

Many analysts decry the level of investment in Africa, saying it is too low. But there is no evidence, in cross-country data or in microeconomic data from Tanzania, that private and public capital is productive in Africa. In that sense, investment in Africa may be viewed as too high

Small states, no different from large states in income and growth, should receive the same policy advice large states do. Because of their greater openness, they may be more vulnerable to volatility in terms-of-trade shocks--but their openness pays off in growth