This essay examines some outcomes of two decades of market oriented reforms in the West African Economic and Monetary Union (WAEMU). In general, economic performance, measured by growth of per capita incomes, has not been encouraging, despite far reaching reforms, including privatization,...

This essay examines some outcomes of two decades of market-oriented reforms in the West African Economic and Monetary Union (WAEMU). In general, economic performance, measured by growth of per capita incomes, have not been encouraging, despite far-reaching reforms, including privatization,...

The incredibly low levels of learning and the generally dysfunctional public sector schooling systems in many (though not all) developing countries are the result of a capability trap (Pritchett et al. 2010). Two phenomena reinforce persistent failure of

Recent evidence from an exhaustive political economy study of growth of African economies.the growth project of the African Economic Research Consortium (AERC) suggests that .policy syndromes. have substantially contributed to the generally poor growth in

The World Bank is uniquely positioned to identify and disseminate innovative development practices. Based on his thirty-year experience as a World Bank staff member, the author takes an institutional perspective on the innovation climate at the World Bank

Only recently, 20 years after transition to a market system, has Russia regained a similar production level it had achieved on the eve of transition in 1991. This may sound surprising, given its low productivity under central planning which dropped even l

Entrepreneurship is generally regarded as a force of change, innovation, and development in modern economies. Entrepreneurs bring new and better products to markets, restore allocative efficiency through arbitrage and reinvest their profits. However,

This paper examines the relationship between differences in civil society development under communism and the political, economic and institutional change and transformation after 1989. We collected a unique dataset on nature and intensity of

Over 1.8 billion people, from Central Europe to East Asia, have been involved in the great systemic transformation to market economy, civic society and democracy. The process has brought mixed fruits. The diversification of the current situation is a resu

The paper explores a phenomenon often observed in transition economies, when newly established institutions are misused, i.e., applied or resorted to for reasons which have little in common with their intended or anticipated purpose. In such incidences institutions become sources of private...