Based in part on a new data set, this article finds that, despite an increase in privatization, state-owned enterprises (SOEs) shares in GDP and employment had not declined in developing countries, and SOE deficits and inefficiencies were a drag on growth. In a sample of 12 reforming countries,...

The investment levels in South Africa have remained relatively low despite an overall picture of economic stability and good governance. This analysis looks at South Africa's investment climate, using data from an Investment Climate Survey (ICS) of over 800 firms conducted by the Department of...

This paper assesses the effect of institutional and economic factors on research and development (R&D) expenditures in developing countries. The paper finds that several measures of institutional quality are correlated with R&D expenditures. Since the institutional variables increase as...