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High instability and low growth characterise the macroeconomic performance of most developing countries. Inadequate policies are often to blame. This paper documents the empirical regularities that characterise the relationships among macroeconomic/financial policies, instability and growth...
The paper reviews two roles of the state: the provision of security and the regulation of economic activity. I show that in both respects until recently African governments provided a poor environment, and that this discouraged private investment. Recently, in parts of Africa the objective...
While within-region diversity of country experiences is undoubtedly large, there are certain distinct modes and trends of policies and outcomes followed by countries within a region, for reasons that probably have to do as much with economics and geographical proximity as with a common culture...
The paper deals with the major empirical poverty and income distribution issues in the context of developing countries. To focus attention it starts with a simple poverty decomposition framework where a change in poverty is shown to be the sum of a change due to economic growth and a change due...
This paper reviews the recent Latin American experience with policy reforms and then goes on to draw lessons for Africa. The lessons apply to both macroeconomic and micro-institutional reforms. On the macroeconomic side it concludes that it is important to achieve and maintain macroeconomic...
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