This chapter begins by noting that culture as an element in economic development in the Third World has been largely neglected in traditional development economics, most writers either seeing culture as an obstacle to development or ignoring it altogether. Recently a shift in thinking has...

Globalization is the process of increased interconnectedness among countries. The prosperous economic development that is typically gained because of the increased interconnectedness among countries usually results in a better standard of living, and an overall improved quality of life. The...

Purpose – Is globalization instrumental in fighting corruption? Do wealth effects matter in this fight? Are findings valid when linearity assumptions are dropped? This paper assesses the Lalountas et al. (2011) hypotheses (conclusions) in the African context. Design/Methodology/Approach –...

This paper studies how comparative advantage and the political elites endowments shape long-run performance in an economy with imperfect political institutions. In a capital-scarce economy, an autocrat catering to the needs of landowners favors openness to trade at an early stage of development,...

This paper studies how comparative advantage and the political elites' endowments shape long-run performance in an economy with imperfect political institutions. In a capital-scarce economy, an autocrat catering to the needs of landowners favours openness to trade at an early stage of...

Purpose - We investigate if financial development benefits from financial globalisation are questionable until certain thresholds of financial globalisation are attained. Design/methodology/approach - Financial globalisation is proxied with Net Foreign Direct Investment Inflows as a percentage...

Purpose - Is globalization instrumental in fighting corruption? Do wealth effects matter in this fight? Are findings valid when linearity assumptions are dropped? This paper assesses the Lalountas et al. (2011) hypotheses (conclusions) in the African context. Design/methodology/approach - Though...

This paper studies how comparative advantage and the political elites' endowments shape long-run performance in an economy with imperfect political institutions. In a capital-scarce economy, an autocrat catering to the needs of landowners favours openness to trade at an early stage of...

The purpose of the chapter is to analyze Africa's economic successes in the past half century, to understand not only what made it possible but also and more importantly what risk factors may eventually bring it to an end or compromise it. While it may not be possible for Africa to alter, for...