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Publications (23)
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– The Donors and Mali’s Democracy
Mali long seemed a model, low-income democracy. Yet, in a few short weeks in early 2012, more than half of the territory came under the military control of an Islamist secessionist movement, and a military coup deposed the democratically-elected government in the capital. Given the substantial...
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– The Limits of External Democracy Assistance
Ghana’s experience since the early 1990s indicates that external aid can significantly impact a country’s democratic transition. External democracy assistance has been a crucial, positive factor in Ghana’s steady evolution into an electoral democracy over the past two decades. Continuing gaps in the...
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Tanzania has been a relative success story in Africa in terms of political reform. While foreign aid has helped strengthen institutions that advance accountability, it simultaneously supports a status quo that undermines accountability and democratization. This study first explores the ways in which...
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– Foreign Aid and the Challenge of Deepening Democracy in Benin
In the 1990s, analysts were almost unanimous in considering Benin to be one of the most important aid recipients among the newly democratizing African countries. After more than two decades of democratic practice, the country has clearly completed the phase of democratic transition. In this study, I...
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– The Limits of Foreign Aid on Malawi’s Democratic Consolidation
Since the era of one-party rule, Malawi’s relationship with the donor community has proved erratic and contentious. During the second term of Malawi’s current president, Bingu wa Mutharika, this trend has continued apace, with important implications for the consolidation of the country’s nascent...
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Over the past two decades, donors increasingly linked foreign aid to democracy objectives in sub-Saharan Africa. Yet systematic research on this topic typically focuses on how aid influences democratic transitions. This study investigates whether and how foreign aid affects the process of democratic...
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This study explores the effects of foreign aid on democracy in Mozambique during the last decade. Aid for democracy built on historic relationships forged between donors and the government during the wartime humanitarian emergency. Foreign aid played an important role in Mozambique’s transition from...
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The study examines Zambia’s evolving aid relationship in relation to the country’s democratic trajectory. The impact of aid in terms of democratic consolidation is linked to the development of the party system, the efficacy of key democratic institutions, and accountability in relation to tolerance...
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– Tracing Channels of Influence on Democratic Transitions and Consolidation
How does aid impact democracy in sub-Saharan Africa? Drawing on existing literature, this study elaborates on the various channels, direct and indirect, through which development and democracy aid has influenced transitions to multi-party regimes and democratic consolidation within the region. The...
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The paper studies the trend towards the use of securities as a vehicle to transfer capital to developing economies, and how it is linked to the increasing use of derivatives transactions in developing countries. It also provides a descriptive analysis of how each type of capital vehicle is...
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This paper explores the complementary use of two instruments to manage capital-account volatility in developing countries: capital-account regulations and counter-cyclical prudential regulation of domestic financial intermediaries. Capital-account regulations can provide useful instruments in terms...
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– An Overview
In this overview we try to explain, first, why funds continued to flow towards emerging economies while fundamentals in host countries had been deteriorating before the Asian crisis (rising external deficit, with a significant liquid component appreciating exchange rates; low capital formation...
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This paper addresses the nature of the demand schedule for emerging market assets in both its macroeconomic and microeconomic dimensions. The former is usually analysed in terms of the ‘push factors’ (such as interest rates or contagion) determining international capital flows; while the latter is...
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– Crossing the Border
This paper has two aims. The first is to provide some explanation for the extraordinary collapse in cross-border bank lending to developing countries which has taken place since 1997. The second is to argue that it might be too simplistic to characterize banks’ behaviour in the past few years as a...
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– The Experience of Latin America since the Tequila Crisis
The paper deals with changes in the regulation and supervision of the Latin American financial sector in the aftermath of the ‘Tequila Crisis’ of 1994–95. While it finds that both have improved, regulation and supervision cannot resolve all problems; good macroeconomic policy and performance are...
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– Water Flowing Uphill?
International bank lending is a major component of capital flows between advanced and emerging economies. However, in recent years these flows have been going the wrong way, like water flowing uphill. Even four years after the Asian crisis, there is a net flow of funds from emerging economies to...
Displaying 16 of 23 results