A single equation model is inadequate to capture the various transmission channels linking civil war to per-capita income. Therefore, this paper uses a system of four equations to estimate the economic cost of civil con‡ ict. In the system, con‡ is allowed ict to a¤ect per-capita...

Media attention towards HIV-related issues has increased dramatically over the past two decades. In this paper, we test whether this growing attention is affecting donors’ disbursement of aid for HIV to African countries. We use information available on the number of articles and press...

This paper begins by documenting a significant challenge for macroeconomic policy-makers in China, namely a spatial dimension that sees considerable asynchronization in business cycle fluctuations across the country’s 31 provinces. This asynchronization points to potential benefits from...

We investigate the effect of remittances on bank credit in developing countries. Understanding this link is important in view of the growing relevance of remittances as a source of external finance and of the beneficial impact that financial intermediation is likely to have on economic growth....

We present an empirical model where output growth volatility and government expenditure are jointly endogenous and both are affected by policies and institutions. We ¯nd that output volatility increases government expenditure, but higher expenditure, causes greater out-put volatility. This...

The Central African Economic and Monetary Community (CAEMC) has been a monetary union for several decades now. According to the hypothesis of endogenous optimal currency areas (OCA), the degree of business cycles synchronization across its member states should be significantly higher today than...

Africa is a case of structural change without industrialization and without diversification. Agriculture�s decline was matched by an increase in services and non-manufacturing industry, with manufacturing remaining low and stagnant throughout the post-colonial period. To what extent do...

The most favourable scenario for poverty reduction combines positive growth and redistribution. We study the conditions and policies that allow a country to achieve this scenario. Methodologically, we depart from the existing literature and estimate a single equation model where the dependent...

We study the nexus between natural resources and growth in Sub-Saharan Africa (SSA) and find that SSA is indeed special: resources dependence retards growth in SSA, but not elsewhere. The natural resources curse is thus specific to SSA. We then show that this specificity does not depend on the...

Purpose- The chapter studies the impact of fiscal policy on the stabilization of peace in the aftermath of a civil war. Methodology- We use data from African war-torn countries and study the issue of post-conflict stabilization from an empirical perspective. We employ probit analysis to formally...