Macroeconomic data have been shown to vary substantially between sources, especially so for low-income countries. While the impact of data revisions on inference is well documented for cross-country studies, there is no systematic analysis of the robustness of results obtained from time series...

Controversy over the aggregate impact of foreign aid has focused on reduced form estimates of the aid-growth link. The causal chain, through which aid affects developmental outcomes including growth, has received much less attention. We address this gap by: (i) specifying a structural model of...

This paper confirms recent evidence of a positive impact of aid on growth and widens the scope of evaluation to a range of outcomes including proximate sources of growth (e.g., physical and human capital), indicators of social welfare (e.g., poverty and infant mortality), and measures of...

It is clear that a lot remains to be learnt about the role of the financial sector in African growth and development process. All three papers in this volume focus on the existing consensus in the literature that there seems to be a positive relationship between financial development and...