Hausmann, Pritchett, and Rodrik (2005) found that political regime changes, external shocks and economic reforms are statistically significant predictors of growth accelerations. Updating the data from 1992 up to 2000 and correcting for coding errors, this paper argues that the original results...

Our purpose is to examine the place and the role of the informal sector in the macroeconomic adjustment mechanisms of under-developed economies where the Market can henceforth be considered as the major way of resource allocation.Starting from one theoretical and empirical though about we...

The prime objective of this paper is to explain the concept of monetary payments as a foundation of an analytical construction of microfinance institutions (microbanks) and official banks (banks) functional complementarity's in Less Developing Countries (L.D.C's). The second objective is to show...

L'objectif de ce papier est de démontrer les relations complémentaires entre les banques officielles (les banques) et les institutions de microfinance (les microbanques) dans un modèle flux-stock initialement proposé par Godley et Lavoie. Nous montrons que les banques officielles accommodent...

Africa experienced a wave of democratization over the past 20 years and this increase in democracy, we find, positively and significantly affects income per capita. Our dynamic panel data results suggest that countries only slowly converge to their long-run income values as predicted by current...

This paper investigates the impact of complementarity reforms on growth and how it depends on GDP per capita. Based on reform data for six policy areas compiled from various sources during the period 1994-2006 for over 100 countries, we compute composite indicators of reform level and...

يلعب القطاع الخاص دورا رئيسيا ومحوريا في عملية التنمية الإقتصادية من خلال مساهمته الفعالة في تنشيط الحياة الإقتصادية ومن ثم في رفع معدلات النمو والحد من الفقر،...

The aim of paper is to determine whether macroeconomic development and the size of banking sector affect the range of external funding and consequently the importance of these debt sources for microfinance performance. Our findings reveal that the growth of external sources is positively...