We focus on the management of highly persistent shocks to aid flows, including HIPC or MDG-related increases in net flows, in the presence of currency substitution by the domestic private sector. Such shocks have beneficent long-run effects, but when currency substitution is high they can...

Although some recent studies have analysed issues relating to credit in African manufacturing, they have not directly tested for the effect of credit on firm growth. The use of bank credit can affect firm growth in two opposite ways. The effect may be positive if credit allows a firm to address...

This paper models firm survival in Kenyan manufacturing with a particular emphasis on the effect of credit on firm resilience. The paper explores how firms coped with the challenging economic environment that prevailed in the 1990s particularly the effect of the dramatic increase in interest...

This paper aims to deepen our understanding of the determinants of income inequality in Uganda. Over the past 10 years, Uganda experienced gradual and sustained economic growth and poverty reduction. The benefits of growth, however, are not being distributed equally. The major contributions of...

The Ghana cocoa market has been extensively liberalised over the period since the mid 1980s. Three issues have been prominent in microeconomic research on the effects of liberalisation on agriculture. The first has been the size of any supply response, the second has been the effect on producers...

With around 50% of the urban men between age 15 and 30 unemployed, Ethiopia has one of the highest unemployment rates worldwide. This paper describes the nature ofunemployment among young men in urban Ethiopia. We analyse the determinants ofincidence and duration and find that most variables...