It is widely believed in literature that trade has a positive effect on economic grouwth. For the developing countries, especially African countries that are considering a trade-led economic growth strategy, this has serious implications. This paper focuses on the relationship between trade and...

South Africa simultaneously lost more than 890, 000 jobs, and saw an increase in the number of skilled workers, from 1989 to 1999. We argue this is the consequence of 'well-documented acute apartheid-era distortions which led to a current coordination failure where (i) firms are locked into a...

We show that coordination failures may be part of an explanation for the demographic differences between rich and poor countries and their differing attitudes towards the use of child labor. Our analysis is carried out within a two-period, general equilibrium model with endogenous fertility,...

The saving- investment correlation and its implication for capital mobility across borders has been sharply debated in the literature since the pioneering work of Feldstein and Horioka (1980). In this paper, the debate is extended to six emerging economies in Africa using cointegration tests...

The World Bank and the IMF believe that an aggressive implementation of the structural reforms is needed to enable the economies to respond to demand- and supply-side innovations. While structural adjustment programs can be adjudged as an essential tool of economic reforms, a gradual...

The paper estimates the impact of institutional changes on growth performance in Africa. The study is based on a sample of 20 African countries. The findings are that promoting economic freedom, political rights and civil liberty is growth enhancing in Africa. This positive relationship between...

This paper attempts to answer the question whether trade liberalization and other measures of structural adjustment undertaken in Kenya since the mid-1980s have led to increased competitiveness of the manufacturing sector. It uses a method of analysis that consists of the computation of three...

The study assesses the impact of selected factors on domain consensus between the IMF (the World Bank) and developing countries. The objectives are (1) to develop a model on domain consensus and (2) to estimate the extent to which selected factors influence domain consensus. The data were...

This paper uses the Granger-causality technique to test Friedman 's hypothesis that variability in monetcuy growth causes changes in velocity. Two models are constructed and tested. The first model uses aggregate money without distinction between the anticipated and unanticipated money growth....