Zimbabwe has the uncommon combination of a high public deficit, a balanced current account, low inflation, and low levels of investment and growth. Despite a surplus in the current account, the nonfinancial public sector has run deficits exceeding 10 percent of GDP since 1981. Inflation is low...

The authors develop and apply a macroeconomic general equilibrium model for Zimbabwe. The model integrates a behavioral estimated model structure, taken from a companion paper, with the relevant budget constraints for a six-sector disaggregation into a comprehensive framework. Starting with 1988...

This study uses time-series of household data from eleven developing countries to test several hypotheses about saving behavior. Besides just widening the scope of information being used to test the hypotheses, the data set in this study has the advantage of a consistent definition across...

Post-conflict countries receive substantial aid flows after the start of peace. While post-conflict countries'capacity to absorb aid (that is, the quality of their policies and institutions) is built up only gradually after the onset of peace, the evidence suggests that aid tends to peak...