We develop a model to study the macroeconomic effects of public investment surges in low-income countries, making explicit: (i) the investment-growth linkages; (ii) public external and domestic debt accumulation; (iii) the fiscal policy reactions necessary to ensure debt-sustainability; and (iv)...

Not only do Africa’s fragile states grow more slowly than non-fragile states, but they seem to be caught in a “fragility trap”. For instance, the probability that a fragile state in 2001 was still fragile in 2009 was 0.95. This paper presents an economic model where three features— political...

This paper uses data from a firm-level survey carried out in Cameroon to investigate the types of public services for which small and medium-sized enterprises pay bribes, the characteristics of these transactions and to estimate the impact of bribe payments on the SMEs growth. The results show that...

Rwanda’s economic growth over the last decade has been remarkable. With a government that is committed to achieving sustainable economic growth coupled with growth in employment opportunities for its people, Rwanda has made impressive progress in rehabilitating and stabilizing its economy to exceed...

This paper analyses the relationship between income per capita and entrepreneurship, defined as the number of limited liability firms per 1000 active persons, registered in a country in one year. Using data on Africa and other regions, the paper finds that the relationship between entrepreneurship...

This paper examines exit from aid-dependence. By ‘exit from aid’, we mean substantial and enduring decline over time in foreign aid as a share of national income. The relevant macroeconomic variables are identified by systematically comparing two groups of countries. These are countries that...

Cet article est une tentative d‟analyser les effets des régimes de change en vigueur sur la croissance économique réalisée par les pays de la CEDEAO. La méthode d‟estimation retenue est celle des Moments Généralisés sur des données de panel relatives à 14 pays de la CEDEAO sur la période 1970- 2009...