Financial liberalisation is widely seen as key to promoting financial development and unlocking growth in developing countries. While this thesis has been backed by an extensive literature, we show that it rests on weak theoretical and empirical foundations. Data for Sub-Saharan Africa reinforce...

In many African countries, large discrepancies exist between revenues implied by published tariff rates multiplied by estimated import volumes and actual receipts. We develop a stylised trade model where average and marginal tariff rates diverge and incorporate insights from this model into a...

Using the 1996--7 and 2002--3 nationally representative household surveys, we examine the extent to which growth in Mozambique has been pro-poor. Although all segments of the income distribution experienced a rapid increase in consumption between the sample periods, the rate of growth in...