Corruption causes severe waste and misallocation of financial, human, and natural resources, thus retarding growth and social development. It suffocates private sector activity and entrepreneurship, perpetuating the dominance of an inefficient public sector, and undermining economic...

The authors discuss macroeconomic policies that would help African countries, especially the low-income countries, reach strong, sustained and shared growth in the post-crisis world. They review, with a special focus on LICs, macroeconomic policies in Africa prior to the crisis. The working...

This paper outlines the elements of a development-targeted economic framework aimed at creating decent employment opportunities as a strategy for realizing core human development goals in Africa. Four policy areas form the core of the paper: monetary policy and inflation, exchange rate policy,...

This paper examines the role that institutions have played in the performance of African economies over the past decades. It discusses the institutional changes needed to enable African countries to reach inclusive development in the near future. The paper starts from the premise that growth and...