The coffee boom of 1976-9 was an archetypal temporary external shock. Using counterfactuals, we find that much of the windfall was saved, due to the private sector. However, the control regime constrained private responses, leading to an inefficient use of the windfall. Rather than Dutch Disease...

This volume analyses and compares economic growth in Nigeria and Indonesia during the period from 1950 to 1985, addressing questions as to why one country was so much more successful than the other. In providing some surprising answers for those who believed that the divergence would be found in...

This book is the first of two companion volumes by these authors on trade shocks in controlled economies. Both theoretically innovative and drawing on extensive applied work, it addresses a number of issues in the forefront of economics, principally the relationship between macro and micro...

Drawing on evidence from Africa - especially Ethiopia and Uganda - the authors of this volume draw conclusions about economic policy in the aftermath of civil war. A sample of conclusions follows. Civil wars differ from international wars. They are informal, often have no clear beginning and...

Empirical work in labour economics has focused on rent sharing as an explanation for the observed correlation in cross-sections between wages and profitability. The alternative explanation of risk sharing between workers and employers has not been tested. Using a unique panel data set for four...