Agricultural input subsidies often have implicit or explicit political economy objectives. Using panel data from Zambia, this article empirically tests whether election outcomes affect targeting of subsidized fertilizer and whether fertilizer subsidies win votes. Results suggest that the Zambian...

A number of proposals today support a substantial increase in foreign aid levels to sub-Saharan Africa even though this region already receives a historically unprecedented volume of aid. This essay reviews the evidence regarding the potentially negative effects of aid dependence on state...

Despite impressive economic growth rates over the last decade, foreign aid still plays a significant role in Africa's political economies. This book asks when, why, and how foreign aid has facilitated, or hindered, democratization in sub-Saharan Africa. Instead of looking at foreign aid as a...

Does democracy promote economic growth? There is still an ongoing debate over the economic implications of democracy, and this question has gained critical importance particularly in the African context, where a wave of democratization in the early 1990s

Mali long seemed a model, low-income democracy. Yet, in a few short weeks in early 2012, more than half of the territory came under the military control of an Islamist secessionist movement, and a military coup deposed the democratically-elected governmen

We investigate sets of financial non-redundant and nonsynchronously recorded time series. The sets are composed by a number of stock market indices located all over the world in five continents. By properly selecting the time horizon of returns and by using a reference currency we find a...