In what the authors name “a first pass through the data”, McMillan et al. (2014) have recently addressed the question: what determines the magnitude of growth-enhancing structural change - defined as gains to average labor productivity resulting from a reallocation of labor across sectors?...

The paper analyses the enigmatic high growth in Ethiopia from 2004 to 2015 (10.9% p.a.) and gauges the prospects for the future. In 2000, Ethiopia was the poorest country on the globe in per capita GDP - a mere 124 USD in current prices. The main finding is that the take-off was driven by...

The paper analyses the enigmatic high growth in Ethiopia from 2004 to 2015 (10.9% p.a.) and gauges the prospects for the future. In 2000, Ethiopia was the poorest country on the globe in per capita GDP - a mere 124 USD in current prices. The main finding is that the take-off was driven by...

In Sub-Saharan Africa we find some of the highest levels of income inequality in the world. Nevertheless, we generally know very little about the historical development of inequality. In this paper we look at how inequality developed in colonial and post-colonial Botswana. We show that income...

In this article, we analyze extended periods of growth in Africa based on panel estimations from 27 African countries during the 1960-1996 period. Our main conclusion is that sustainable growth needs to be based on a balanced mix of capital accumulation, macroeconomic adjustment and structural...

In the aftermath of the 2008 global financial crisis, the implications of financial liberalisation for stability and economic growth has come under increased scrutiny. One strand of literature posits a positive relationship between financial liberalisation and economic growth and development....

Chinese aid comes with few strings attached, allowing recipient country leaders to use it for domestic political purposes. The vulnerability of Chinese aid to political capture has prompted speculation that it may be economically ineffective, or even harmful. We test these claims by estimating...

Chinese aid comes with few strings attached, allowing recipient country leaders to use it for domestic political purposes. The vulnerability of Chinese aid to political capture has prompted speculation that it may be economically ineffective, or even harmful. We test these claims by estimating...