This paper examines the collapse of the Indonesian economy in late 1997 and 1998, and analyses the most pressing economic problems inhibiting its recovery. It explores several weaknesses that emerged in the economy in the early 1990s, including a high dependence on short-term foreign borrowing,...

This paper examines the potential for success for trade-focused regional integration agreements in Sub-Saharan Africa, with particular focus on Southern Africa. The paper surveys the existing literature on regional integration, and attempts to distill the most relevant lessons about success and...

This paper examines the potential for success for trade-focused regional integration agreements in Sub-Saharan Africa, with particular focus on Southern Africa. The paper surveys the existing literature on regional integration, and attempts to distill the most relevant lessons about success and...

Ethnic divisions explain a significatn part of Africa's slow growth and Africa's choice of growth-reducing policies. Africa's poor growth is associated with Africa's low schooling, political instability, underdeveloped financial systems, distorted foreign exchange markets, high government...

The growing literature on inequality and economic growth has focused on the adverse effects of income inequality on investment. We focus on the negative relationship between inequality and economic growth, hypothesising that inequality lowers economic growth by raising the fertility rate. Unlike...

This paper describes the changing economic environments being experienced by Sub-Saharan African (SSA) countries as they move from relatively controlled and closed economies, to more open and liberalized economies with wider regional trade arrangements, deepening trade cooperation, and expanding...

In light of the financial crises in the emerging markets, the coming-into-force of the financial services agreement under the GATS has been considered a success. While the agreement provides for little new liberalization but rather formalizes the status quo, it has been feared that governments...

The following note offers some calculations of the sources fo slow growth in African economies.

This paper decomposes the reduced form income-environment relationship into its structural sources. It identifies a level effect, a composition effect, and an abatement effect. This decomposition is implemented using global data on suspended particulate matter in the air. The level and...