The global economic crisis beginning in 2008 has come at a very inopportune time for Africa. Sub-Saharan Africa (SSA) appeared to be on a march toward real economic and human progress, following the dismal performance of the 1980s and early 1990s. Economic growth had resurged since the...

Emerging markets and developing economies (EMDEs) weathered the 2009 global recession relatively well. However, the impact of the global recession varied across economies. EMDEs with stronger pre-crisis fundamentals - such as large foreign exchange reserves, sound fiscal positions, and low...

This paper is intended to provide an updated discussion on a series of issues that the relevant literature suggests to be crucial in dealing with the challenges a middle income country may encounter in its attempts to further catch-up a higher income status. In particular, the conventional...