Uganda's economic growth since the late 1980s has resulted largely from restoring and rehabilitating the country's productive capacity. Going forward, growth will need to come increasingly from new investments or new activities. That will require more investment, more intensive acquisition of...

Much of the discourse on economic development and the private sector has focused on the role of foreign direct investment. While it is clear that FDI can play an important role in generating growth, it is also increasingly evident that countries cannot grow without a vibrant, domestic private...

The globalization of financial markets has led to an impressive rise of private commercial investment in emerging markets since 1990. This rise has been driven partly by the growth of equity investment funds - collective investment schemes where individual investors contribute to multiple...

Many countries in Africa suffer high rates of underemployment or low rates of productive employment; many also anticipate large numbers of people to enter the workforce in the near future. This paper asks the question: Are African firms creating fewer jobs than those located elsewhere? And, if...

This paper studies the optimal public investment decisions in countries experiencing a resource windfall. To do so, we use an augmented version of the Permanent Income framework with public investment faced with adjustment costs capturing the associated administrative capacity as well as...

Most developing countries intervene extensively in financial markets, setting ceilings on interest rates and spreads and allocating much (often between half and all) of formal credit to"priority"uses. This study reviews interest rate controls and other repressive financial policies on investment...