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Publications (3)
Working Paper
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– From structural adjustment to structural transformation?
Africa has come a long way since the economic turmoil of the 1980s, the decade of ‘structural adjustment’. Growth has been strong, yet poverty remains high. Underlying the shortage of good livelihoods and high social inequality is the lack of diversification in Africa’s economies—in contrast to Asia...
Working Paper
pdf
Over the past twenty years, Mozambique has achieved remarkable progress in promoting macroeconomic growth and stability. Nonetheless, poverty rates remain high and labour market activity is dominated by smallholder farming. We use recent household survey data to dig into these trends and provide an...
Working Paper
pdf
– Lessons from China
Using a survey of 300 state-owned enterprises (SOEs), we argue that the acceleration of inflation in China after 1984 was caused by the decentralization reforms in the state sector. These reforms allowed the SOEs to realize their innate tendencies to over-consume and over-invest. The evidence...
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