The paper investigates whether differences in public sector management quality affect the link between public debt and economic growth in developing countries. For this purpose, we primarily use World Bank’s institutional indices of public sector management (PSM). Using PSM thresholds, we...

In this paper, the process for firms to decide whether or not to invest in corporate social responsibility is treated from a real option perspective. We extend the Husted (2005) framework with an important extra parameter that allows us to understand the timing of CSR investment and explain why...

This paper critically reviews three decades of official creditors’ debt relief practice in Sub-Saharan Africa from a novel angle, i.e. along debt relief’s similarities with other aid modalities. We show that debt relief is a true ‘chameleon’ which mimics different sorts of aid, from...

This paper systematically reviews recent experience with debt-for-development swaps in Indonesia, the only debtor country where the number of such operations could warrant its qualification as a genuine government debt relief and development finance policy. First, we show that the 11 swaps...

This paper starts from the concept of ‘original sin’ to demonstrate that the development of local currency bond markets remains a priority for Sub-Saharan African countries, both as a prevention mechanism against external shocks and to exploit growth-boosting investment opportunities. We...

In this paper we look at the developmental consequences of aid flows on the Great Lakes Region in Africa. The reshuffling of international relations after the end of the cold war has dramatically changed the exogenous influence of external actors on the agency of local and regional actors in the...