This paper focuses on Second Poverty Reduction Strategy Paper for Lao People’s Democratic Republic. The economic sectors have undergone significant restructuring. This restructuring has been concentrated on production capacities, quality and efficiency, thus contributing to economic...

Is rapid economic growth experienced by the East African Community during the past decade built on solid foundations? To gain some clues, we use a variety of newly-collected and existing data sources to analyze the structural transformation of output and exports, as well as indicators of their...

This paper reviews the Annual Progress Report (APR) on Poverty Reduction Strategy Paper (PRSP) on Benin. The APR presents an overview of the implementation of the strategy addressing in turn the new vision of development in Benin, the major projects initiated for the creation of national wealth...

The paper reviews the “stylized facts” on economic growth gathered by Easterly and Levine in their 2001 joint paper and illustrates some of the points made on the basis of data from the IMF’s World Economic Outlook on real growth and per capita GDP since 1970. The data show that the growth...

This paper shows that the behavior of entrepreneurs facing incomplete financial markets and risky investment can explain why growth accelerations in developing countries tend to be associated with current account improvements. The uninsurable risk of losing invested capital forces entrepreneurs...

This paper proposes a tractable Sudden Stop model to explain the main patterns in firm level data in a sample of Southeast Asian firms during the Asian crisis. The model, which features trend shocks and financial frictions, is able to generate the main patterns observed in the sample during and...