A recent, but rapidly growing, literature has focused on the impact of uncertainty and instability on the adoption of fixed investment projects, showing that if the latter are costly or impossible to reverse, uncertainty can become a powerful investment deterrent. The purpose of this paper is...

An adequate supply of infrastructure services has long been viewed by both academics and policy-makers as a key ingredient for economic development. Sub-Saharan Africa ranks consistently at the bottom of all developing regions in terms of infrastructure performance, and an increasing number of...

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...

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...