This research paper examines the position of the observed real exchange rate (RER) in relation to its unobservable equilibrium position, estimating the time path of the latter using the single equation procedure. It found out that over the sample period, real exchange rate misalignment (measured...

This article provides a theoretical and empirical investigation of the correlation between resource wealth and authoritarianism. Building on the rentier state literature, I argue that resource wealth facilitates the consolidation of an already established authoritarian government. Resource...

This paper analyses the relationship between short and medium-horizon returns and trading volume to find out whether trading information is important in predicting the price movements of securities on the Nigeria Stock Exchange. Using a variant of Lehmann’s (1990) contrarian trading strategy,...

Excise taxes, notably on tobacco and petroleum products and alcoholic beverages, raise revenue equivalent to 1.9% of GDP in sub-Saharan Africa. Their importance varies widely and inexplicably across countries, and shows no trend over time. In principle, excises are good revenue sources, cheap to...

This paper examines the potential for success for trade-focused regional integration agreements in sub-Saharan Africa, with a particular focus on southern Africa. The paper surveys the existing literature on regional integration, and attempts to distill the most relevant lessons about success...

This paper offers a new theory of 'the political economy of reform, based on an analysis of transition in economic and political cultural values, attitudes, and practices. It argues that a modern version of administered trade emerged in twentieth century Africa, as well as in Russia, China, and...

The record of trade policy reform in sub-Saharan Africa (SSA) masks substantial variation among countries and a tendency in the region for crucial trade reforms to be stalled or reversed subsequent to implementation. Despite a decade of intensive reform efforts, the trade environment in Africa...

We develop a framework thinking about how to restart and sustain growth and development in Africa. The framework has three themes - politics and institutions, macroeconomic management, and enhancing productivity. We conclude that African governments can begin to overcome regression and decline...

The papers in this volume are products of a research activity entitled EAGER - Equity and Growth through Economic Research in sub-Saharan Ahica (SSA) - funded by the U.S. Agency for International Development (USAID), Bureau for Africa, Office of Sustainable Development. Since its inception in...