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Report
Africa is on time
We present evidence that the recent African growth renaissance has reached Africa?s poor. Using survey data on African income distributions and national accounts GDP, we estimate income distributions, poverty rates, and inequality indices for African countries for the period 1990-2011. Our findings are as follows. First, African poverty is falling rapidly. Second, the African countries for which good inequality data exist are set to reach the Millennium Development Goal (MDG) poverty reduction target on time. The entire continent except for the Democratic Republic of Congo (DRC) will reach ...
Conference Paper
Africa : geography and growth
Journal Article
Africa : geography and growth
Conference Paper
Is monetary policy different in Africa?
Working Paper
The Epidemic Effect: Epidemics, Institutions and Human Capital Development
Epidemics can negatively affect economic development unless they are mitigated by global governance institutions. We examine the effects of sudden exposure to epidemics on human capital outcomes using evidence from the African meningitis belt. Meningitis shocks reduce child health outcomes, particularly when the World Health Organization (WHO) does not declare an epidemic year. These effects are reversed when the WHO declares an epidemic year. Children born in meningitis shock areas in a year when an epidemic is declared are 10 percentage points (pp) less stunted and 8.2 pp less underweight ...
Working Paper
Financial intermediation and economic growth in southern Africa
The role of the financial sector in stimulating economic growth has been debated in the economic profession for decades. The prevailing view is that financial intermediaries reduce the transactions costs of channeling funds from savers to entrepreneurs by reducing information asymmetries between lenders and borrowers, there by stimulating investment and growth. Inflation, on the other hand, increases uncertainty and has a negative impact on investment and reduces growth. This paper tests these two hypotheses empirically using a pooled time series for a cross-section of countries in the ...
Journal Article
How to Jump-Start Industrialization in Sub-Saharan Africa
Most sub-Saharan nations are poor and a long way from full-scale industrialization. However, certain policies could help spur their economic development.