In the decade following the 1998 financial crisis Russia’s banking system grew much larger and stronger – indeed, growth rates were dangerously high – but even before the onset of the current global crisis it continued to play a limited role in intermediating savings and investment,...

Unemployment in South Africa is extremely high and unevenly distributed, being concentrated among young less-skilled blacks. The legacies of apartheid can explain part of the increase in labour supply and inability of the economy to absorb it which produced the extreme levels of unemployment,...

In this paper we assess the determinants of secondary school outcomes in South Africa. We use Bayesian Averaging Model techniques to account for uncertainty in the set of underlying factors that are chosen among a very large pool of explanatory variables in order to minimize the risk of omitted...