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...

We revisit Western Europe's record with labor-productivity convergence and tentatively extrapolate its implications for the future path of Eastern Europe. The poorer Western European countries caught up with the richer ones through both higher rates of physical capital accumulation and greater...

Chapter 1: Reforms, state building and the legacy -- Chapter 2: The Soviet Union – the twilight -- Chapter 3: 1991-2003: early Post-Soviet Transition and the Revolution of Roses -- Chapter 4: Georgia’s J-curve. How to rebound? -- Chapter 5: Russia -- Chapter 6: Public leadership -- Chapter...

This paper studies the linkage between structural coherence and economic growth. Structural coherence is defined as the degree that a country's industrial structure optimally reflects its factor endowment fundamentals. The paper found that at least for the overall capital, the shares of capital...