This paper presents new evidence that cronyism reduces long-term economic growth by discouraging firms' innovation activities. The analysis is based on novel establishment survey data from The Arab Republic of Egypt which provides information on establishments' political connections, their...

This is a speech given by Mr. Wolfensohn to the United Nations Economic Commission for Africa, on January 27, 1998 at Addis Ababa. He presented a development agenda in Africa which covers: human resource development, capacity building, rural development and rural transformation, private sector...

Although there is wide recognition of the negative consequences of policy volatility for countries' long-term economic growth, there is limited empirical work on this subject. One of the reasons is the difficulty of measuring policy volatility over long periods of time, especially in developing...