South Africa's growth experience provides an example of how contrasting growth trends long-term decline followed by improved growth pivot around political change, in this case a transition to democracy. In the decade prior to 1994, South Africa experienced the worst period of economic growth...

Severe recessions and financial crises are frequent. Their effect on the economy is persistent and often exceeds initial projections. They can also be a strong driver of widening inequality. Therefore it is important that measures be taken to minimize the risk of such events while strengthening...