This paper proposes a reformed architecture of the international monetary system based on three pillars. The first is a representative apex organization, which can be understood as a transformation of the G-20 into a representative international...
Globally, state failure is hugely costly. We estimate the total cost of failing states at around US$276 billion per year. In this paper we apply our global framework and methodology to analyse the cost of failing states in the Pacific Ocean. Globally...
Many developing nations, especially the least developed countries, are subjected to recurrent spells of food insecurity. In order to understand food insecurity in these countries it is necessary to consider not only immediate or trigger-causes of...
Some of the ways that have recently been discussed for increasing significantly the own resources of developing countries, or the amount or usefulness of the overseas aid that they receive, are potentially promising politically. This is because the...
Part of Journal Special Issue Climate Change and the Zambezi River Valley
The paper identifies and examines those factors that have affected growth in the CFA franc zone countries relative to the non CFA countries. It examines the special arrangements between franc zone countries and France, which give some advantages that...
This paper outlines the impact of the global economic crisis on Africa. Recovery requires coordinated and consistent efforts to assist individual countries in mitigating (reducing) the risk, coping with the impact, and reducing risk over the longer...
The West African Economic and Monetary Union (UEMOA) has a history of monetary stability and low inflation. Nevertheless, there is substantial variation in relative prices within some UEMOA countries, in particular in the price of food relative to...
The partial effect of nominal exchange rate volatility on exports from each EMU member to the rest of the EMU is estimated on annual data for 1967-97, using modern time-series methods. The long-run relations between exchange rate volatility and...
An interesting theory of transition must give a convincing account of structural adjustment and supply side improvement. In this paper, I discuss the incentives for government to undertake costly supply side improvement and how these relate to...
The emergence of the euro as a key currency, perhaps eventually rivalling the US dollar in importance, may have important macroeconomic implications for industrial as well as developing economies in the years ahead. This paper focuses on two related...
The purpose of this paper is to explore economic and political implications of Europe's Economic and Monetary Union (EMU) for developing countries. In strictly economic terms, influences will be communicated through both trade and financial channels...
From the book: Oxford Handbook of Africa and Economics, Vol. 2.
From the book: Oxford Handbook of Africa and Economics, Vol. 2.
The real value of official aid flows fell for much of the 1990s, and private capital flows to low-income countries remain mostly limited. The decline in aid flows may endanger the development process, since they finance much of the development budget...
In recent years there is a growing concern within the international donor community regarding the plight of a special group of countries labeled as 'Fragile States'. These states, which according to current donor lists currently numbers more than 40...
African regional organizations’ increasing activity in security policy is usually approached through the concept of a ‘security community’, which can only partially clarify their difficult situation. A multilevel governance model is suggested as a...
The paper studies the relation between globalization, inequality and marginalization, within and across nations. It reviews the existing evidence on globalization and global inequality and argues, using a simple theoretical model, that the two are...
The paper considers the political obstacles and supports for additional development finance and a number of possible devices through which advantage may be taken of the supports and the obstacles circumvented. It emphasizes the need for effective...
Efforts to realize the issue of development-focused Special Drawing Rights (SDR) by the International Monetary Fund (IMF) have been on-going for many years. Recently, however, the campaign first gained a new momentum immediately after the Asian...
Scholars and policy makers believe that democracy will bring prosperity through integration into the global economy via increased international trade. This study tests two theories as to why democracies might trade more. First, political freedom may...
Openness is not necessarily good for the poor. Reducing trade protection has not brought growth to today’s poorest countries, and open capital markets have not been good for the poorest households in emerging market economies. In this paper I present...
Institutions are not only created and built, but also, and especially, need to be learnt. It is a process which takes place in all economies, but acquires a special importance in less advanced countries. Not only theoretical arguments, but also the...
Political motives, geography, and the uneven distribution of gains trumped the traditional efficiency gains across Africa’s Regional Economic Communities (RECs). The small, sparsely populated, fragmented, and often isolated economies across Africa...
This paper reviews main S&D provisions for developing countries under the GATT-WTO trading system and discusses issues relating to the future of S&D treatment from the perspective of the least-developed countries (LDCs). It argues that negotiations...
Resource-Led Growth - A Long-Term Perspective surveys the 1870-1914 experience of growth in resource-rich economies: the so-called regions of recent settlement, some tropical countries and some mineral-based export economies. First, three contrasting...
North Korea's economic reform began in the mid-1980s. It was motivated by the increasing seriousness of the problems typical of centrally planned socialist economies.In general, the country's reforms have so far been limited both in scope and depth...
This paper investigates the economic consequences of a scenario in which the European Union (EU) imposes economic sanctions on Sudan. The idea of the paper is motivated by the deteriorating relations between Sudan and the EU arising from the...
A substantially higher rate of growth of exports is crucial to ensure success of the major outward-oriented, 'market friendly' economic reforms being pursued in India and Sri Lanka. The international economic and trade environment, however, is far...
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