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sustained growth for sub-Saharan Africa. This analysis suggests that what are usually regarded as first-order problems -- broad … institutions, macroeconomic stability, trade openness, education, and inequality -- may not nowbe binding constraints in Africa … Africa. A key question is to what extent Africa can rely on manufactured exports as a mode of "escape from underdevelopment …
Persistent link: https://www.econbiz.de/10005718867
We quantify the role of financial frictions and the initial misallocation of resources in explaining development dynamics. Following a reform that triggers efficient reallocation of resources, our model economy with financial frictions converges slowly to the new steady state--it takes twice as...
Persistent link: https://www.econbiz.de/10008680925
In this paper I discuss the effectiveness of foreign aid from a historical perspective. I show that foreign aid is a relatively new concept in economics, and I emphasize the role of exchange rate policies in the foreign aid controversies of the 1970s through 1990s. I show that in the early 1980s...
Persistent link: https://www.econbiz.de/10011071739
We conducted a survey covering 20% of villages with 200-1000 population in rural Guinea-Bissau. We interviewed household heads, care-givers of children, and their teachers and schools. We analysed results from 9,947 children, aged 7-17, tested for literacy and numeracy competency. Only 27% of...
Persistent link: https://www.econbiz.de/10011271488
We look at the decision of the government or "central planner" in the allocation of scarce governmental resources for tertiary education, as well as that for the individual. We provide estimates of the net present values, or cost and benefits. These include costs of tertiary education; the...
Persistent link: https://www.econbiz.de/10008839444
How well do countries cope with the aftermath of natural disasters? In particular, do international financial flows help buffer countries in the wake of disasters? This paper focuses on hurricanes (one of the most common and destructive types of disasters), and examines the impact of hurricane...
Persistent link: https://www.econbiz.de/10005050456
Africa and Latin America secured their independence from European colonial rule a century and half apart: most of Latin … America after 1820 and most of Africa after 1960. Despite the distance in time and space, they share important similarities … about a half-century (lost decades). The parallels suggest that Africa might be exiting from a period of post …
Persistent link: https://www.econbiz.de/10005718756
Africa's recent growth performance has raised expectations of a bright economic future for the continent after decades … of decline. Yet there is a genuine question about whether Africa's growth can be sustained, and if so, at what level. The …
Persistent link: https://www.econbiz.de/10010951305
In the new millennium, the Western aid effort towards Africa has surged due to writings by well-known economists, a … celebrity mass advocacy campaign, and decisions by Western leaders to make Africa a major foreign policy priority. This survey … contrasts the predominant "transformational" approach (West saves Africa) to occasional swings to a "marginal" approach (West …
Persistent link: https://www.econbiz.de/10005777960
-specific pre-colonial institutions in shaping comparative regional development in Africa. We utilize information on the spatial …
Persistent link: https://www.econbiz.de/10009147977