With the year 2015 – the MDG finishing line – approaching, post-2015 goals as they impact Africa need to be firmed. The goal of ending extreme poverty remains paramount. Globally, the World Bank set goals to end extreme poverty by 2030 and to promote shared prosperity in every society. We...

This paper studies learning-by-exporting, based on survey data of knowledge flow indicators. Most of the earlier related papers investigate the effects of exporting on productivity of firms, and often find little evidence of learning effects. This study looks more in detail into the mechanism of...

This paper reproduces a version of the New Keynesian model developed by Ireland (2004) and then uses the Vietnamese data from January 1995 to December 2012 to estimate the model’s parameters. The empirical results show that before August 2000 when the Taylor rule was adopted more firmly, the...

The unemployment rate in Estonia rose sharply in 2010 to one of the highest levels in the EU, after thecountry entered a severe recession in 2008. While the rate declined relatively rapidly in 2011, it remained high especially for the less educated. In 2009, the Employment Contract Law relaxed...

The East African Community (EAC) economic integration has gained momentum recently, with the EAC countries aiming to adopt a single currency in 2015. This paper evaluates empirically the readiness of the EAC countries for monetary union. First, structural similarity of the EAC countries is...

Business groups, which are ubiquitous in emerging market economies, balance the advantages of characteristics such as internal capital markets with the disadvantages such as inefficient internal distribution of resources and suppression of technological and other forms of innovativeness. In this...

CEECs are characterised by a significant presence of foreign banks and by a marked dependence upon financing from foreign bankers. We show that this situation leaves these countries open to two types of financial risk, which have grown throughout the present decade. The first relates to the...

Egypt, Morocco and Tunisia face challenges competing on the global markets, as shown by their relatively low and stagnant export shares. The limited export competitiveness has hampered external demand, growth and employment. Applying, for the first time to North Africa, the stock-flow approach...

This paper examines both the determinants and the effects of changes in the rigidity of labor market legislation across countries over time. Recent research identifies the origin of the legal system as being a major determinant of the cross-country variation in the rigidity of employment...