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Publications (14)
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This paper develops a model of opportunistic behaviour in which an incumbent government resort to expansionary fiscal and/or monetary stimuli to foster economic growth and thus, maximize the probability of re-election. Using a panel dataset of 51 African countries covering the period 1980 to 2012...
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– Are There Lessons for Countries in Africa?
Brazil’s recent growth has been intensely pro-poor, and both poverty and inequality have declined significantly in the last decade. It has been suggested that Brazil’s unexpected successes are the outcome of a new model of development. The paper argues that Brazil’s unique combination of economic...
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– Analysis with evidence from Swaziland
The shortages of entrepreneurial skills have lowered search effectiveness of potential young entrepreneurs and the rate of youth start-ups. Our paper contributes to closing the gap in the entrepreneurship and development literature with a model of costly firm creation and skill differences between...
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This paper examines the changing nature of occupational labour-market trends in South Africa and the resulting impact on wages. We observe high levels of demand for skilled labour that have intensified a trend already established before 1994. Over the period 2001-12 employment within the primary...
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– Interpreting Trends in the Data Over the Past Two Decades
This paper reviews the current problems of national accounting in Sub-Saharan Africa. With the current uneven application of methods and availability of data, any ranking of countries according to gross domestic product levels is misleading. It is increasingly acknowledged that the problems...
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– Implementation of the New Aid Effectiveness Agenda in Health and Education in Zambia
There is a growing interest in the debate on aid effectiveness for assessing the impact of aid not only on economic growth and poverty reduction, but also on intermediate outcomes such as health and education. This paper reviews evidence from recent in-depth country work on the impact of government...
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In many African countries, decentralization has long been viewed as a means for improving local service delivery. Yet, despite various decentralization initiatives, poor service delivery continues to be problematic in two of Kenya’s largest cities, Nairobi and Mombasa. Despite various governance...
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– An Empirical Assessment of the Indian Economy
This study is an attempt towards an integration of financial development and its effect on the real sector via the transmission mechanism with special reference to developing and emerging market economies. It finds two cointegrating relations between the financial development, output growth and...
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– What We Know and What We Need to Know
Drawing on recent literature, the paper argues that institutions and political economy factors hold the key to understanding why some countries have succeeded in developing their financial systems while others have not. The paper also reviews new evidence which suggests that institutional quality...
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– Impact on Real Effective Exchange Rate Volatility, Institutional Quality and Growth for MENA Countries
We analyse two potential effects arising from regional (and with EU) integration—increased quality of institutions (including the quality of financial institutions) and, economic policies and reduced multilateral exchange rate volatility—in a conditional convergence growth framework for MENA...
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Our paper investigates the unexplored impact of education on inflation and of this relationship on economic growth. By using a sample of 102 countries observed on non-overlapping five-year data spells over the period 1963-2001, we find that average schooling years of the working population have a...
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– Evidence from 25 Emerging Market Economies, 1973-97
This paper aims to investigate the relationship between financial liberalization on the one hand and saving, investment and economic growth on the other hand, using a new dataset for measuring financial liberalization for a sample of 25 developing economies over the period 1973-96. We find no...
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Recent years have witnessed important structural changes around the world as a result of the globalization process, the creation of new economic blocks and the liberalization of financial sector in many countries. Responding to these changes many sectors of the industrialized countries have gone...
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– Is the Relationship Extinct Already?
Although the finance–growth nexus has become firmly entrenched in the empirical literature, studies that question the strength of the empirical results have appeared and seem to have become more frequent as well. In this paper we re-examine the core country panel results that established the...
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