This paper revisits the debate over the most appropriate exchange-rate regime for low-income countries. The debate revolves around: the effect of the exchange-rate regime on macroeconomic management, particularly inflation; the links between the exchange-rate regime and vulnerability to crisis...

Chronic food insecurity and chronic poverty are closely related in Malawi. Since independence in 1964 national food security has been a key policy objective. However, until the 1990s less emphasis was placed on the household dimensions of food security and its links with chronic poverty. In the...

This article uses a multi-market agricultural pricing model to analyse the impact of the World Bank's three structural adjustment loans (SALs) to Malawi on the smallholder agricultural sector. Three price policy scenarios are simulated on the model representing zero, partial and full compliance...

This paper provides an historical overview of aid flows to North Africa. It assesses the aid allocation process and argues that past aid flows to the region have been heavily influenced by donor political interests. This has reduced the effectiveness of aid which, with the exception of Tunisia,...

Summary This paper attempts to explain the factors that determine the geographical allocation of foreign aid. Its novelty is that it develops a rigorous theoretical model and conducts the corresponding empirical investigations based on a large panel dataset. We run regressions for different...