More than a decade after substantial macroeconomic reforms were initiated in many Africancountries, aggregate growth, has at best remained inconsistent in many of those reforming countries.While the reasons for poor aggregate performance vary across countries, there is substantial evidencethat...

Sen’s capability approach inspired a new conception of development and succeeded in the Human Development Index (HDI). On the basis of HDI critics, we propose to enlarge the number of variables and we use 9 indicators of Standard of Living and 9 indicators of Quality of Life that allows...

The financial crisis, which began to hit the trade finance markets in 2008, caused a sharp slow-down in trade in 2008 and 2009. The tightening of global credit reduced capital inflows and curtailed the availability of trade finance. This sudden shortage of trade finance negatively impacted...

In spite of its major development challenges, Africa is showing signs of a reversed trend: economies have been growing for the sixth consecutive year, conflicts are declining and many countries are now managing democratic political transitions. The continent now faces the best opportunity for...

Using panel data of African countries from 1990 to 2002, this paper studies the relationship between government expenditure on education enrolments, with illustration from Nigeria and other SANE (South Africa, Algeria, Nigeria, and Egypt) countries at the primary and secondary school levels. The...

The objective of this paper is to examine some aspects of the efforts aimed at re-orienting public management in Africa since the early 1990s. The paper begins with a review of the background to the re-orientation exercise: the decline of the public administration systems in a majority of...

Through the principle of asset and liability matching, the introduction of financialrisk management products in developing countries, will permit the institutions ofthese countries to hedge their market risk with other counterparties in the market.The use of financial risk management products...

Twenty years after the launch of market reforms, productive entrepreneurship and vibrant small and medium-sized enterprises (SMEs) in Ethiopia remain limited, the recent growth acceleration notwithstanding. This paper first develops a model of entrepreneurial start ups in an economy with...

This study explores the role of development assistance to finance the required growth to reduce extreme poverty by half in 2015 in Africa. The study utilizes the financing gap and “optimal” aid allocation models to explore the implications of efficient aid utilization and global-aid...

The important and wide-ranging role of energy in the development process is well known andit needs no retelling here. However, suffice it to state that there is a strong feedback relationshipbetween the energy sector and the national economy. Energy demand, supply and pricing haveenormous impact...