This paper addresses the efficient management of natural resource revenues in capital-scarce developing economies. We depart from usual prescriptions based on the permanent income hypothesis, since for capital-scarce countries it is preferable to invest domestically. Since revenue streams are...

This important book tackles some of the main security challenges facing the international development community today. Containing contributions by leading experts, including some who have been at the centre of the international policy debate, it goes further by putting forward suggestions and...

In May 2008, the commission on growth and development (the growth commission) issued its report entitled 'the growth report'. In it the commission attempted to distill what had been learned in the past two decades, from experience and academic and policy research, about strategies and policies...

The commission on growth and development was established in April 2006 as a response to two observations. While the author felt that the benefits of growth were not fully appreciated, the author recognized that the causes of growth were not fully understood. Growth is often overlooked and...

Structural change is a key driver of rapid growth: countries diversify into new industries, firms learn new things, people move to new locations. Anything that slows this structural change is also likely to slow growth. Because urbanization is one of the most important enabling parallel...

The commission on growth and development was established in April 2006 in response to two insights: people do not talk about growth enough, and when they do, they speak with unearned conviction. The workshops turned out to be intense, lively affairs, lasting up to three days. It became clear...