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Many African capital markets find the lack of an efficiently organized capital market a serious obstacle to the efficient use of their savings, and thus to their overall economic development. To improve the situation, this paper suggests the following policy recommendations: removal of impediments to capital market development, improvement of the financial system infrastructure for efficient trading activities, sound economic policies that stabilize the exchange rate and prices to help attract foreign investors, increased integration of the local capital market with the world capital markets, encouragement of family-owned firms to go public and, most importantly, liberalization of international capital flows. The study also proposes ‘privatization’ and ‘currency union’ as enhancers of capital mobilization for real sector investment in Africa. Copyright © 2005 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

A common criticism of antipoverty programmes is that a large proportion of their budgets never reaches the intended beneficiaries but is absorbed by administration costs. Yet, there is little empirical evidence on the costs, and even less on the cost structures, of such programmes. This paper outlines and implements a replicable methodology for a disaggregated cost analysis of a pilot conditional cash transfer programme in Nicaragua, examining the administration and private costs associated with a one-unit transfer to a beneficiary—referred to as the cost–transfer ratio. We find that for a meaningful assessment of cost efficiency, it is misleading to make calculations using only the typically available raw accounting data. Rather, one must delve into the details and specific activities of the programme. This is particularly important for pilot programmes, which typically have many upfront fixed costs associated with design and setting up operations. It is also important for conditional cash transfer programmes, which have additional costs associated with their specific design features and require changes in beneficiary behaviour that may engender substantial private costs. Copyright © 2005 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Market failures affecting economic growth in poor rural areas are firmly on the agenda but for goods and services with private good characteristics are generally not conceptualized and understood in ways that help policy analysis and formulation to recognize and address these failures. We need greater recognition and understanding of the causes and nature of coordination failures that lead to these market failures. This paper examines core features of poor rural areas, the nature of coordination problems faced by different potential economic actors, the impacts of these problems on markets and economic development and ways that these have been addressed or ignored in different policies and policy approaches in Asia and Africa. We conclude by drawing out the implications for policies seeking to promote pro-poor economic growth in poor rural areas today. Copyright © 2004 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

The objective of this paper is to survey what is actually known about the finance–growth relationship based on theory and empirical work. We point out that traditional theoretical models linking financial development and economic growth do not pay sufficient attention to insights emerging from modern information economics. Markets with asymmetric information are not in general constrained Pareto efficient; and increased banking sector competition, following financial liberalization, will not necessarily induce efficient financial intermediation. Increased competition is likely to erode franchise values, which may, in turn, generate an unstable banking environment where gambling behaviour on the part of the banks is prevalent. Increased competition can also discourage relationship-banking, and it disturbs what may actually be a constrained efficient mode of contracting in a dynamic setting characterized by asymmetric information. We argue that these problems are further aggravated by the massive task of building an appropriate institutional and regulatory framework designed to effectively curb imprudent bank behaviour. Turning to the empirical evidence, it is shown that the alledged first-order effect whereby financial development causes growth is not adequately supported by econometric work. The empirical evidence on the finance–growth nexus does not yield any clear-cut picture. By way of conclusion, we question whether financial development, in the sense of increased formal financial sector intermediation in a deregulated environment can be expected to act as ‘engine of growth’ in the development process; and we argue in favour of a more cautious approach to financial sector reform. Copyright © 2003 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

What happens when corporate knowledge management monoculture meets the diverse international development sector? This paper finds that development agencies have too readily adopted approaches from the Northern corporate sector that are inappropriate to development needs. These approaches treat knowledge as a rootless commodity, and information and communications technology as a key knowledge tool. Alternative approaches are required, that focus on the knower and on the context for creating and sharing knowledge. ICT tools need to support this approach, helping people develop appropriate or alternative scenarios and improving the accessibility of information and knowledge for people with different cultural, social, or educational backgrounds. Copyright © 2002 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper discusses the need for a set of policies encouraging economic co-operation within the former Soviet Union states of Central Asia.Central Asia is the focus of this report; however, the argument emphasizing the need for international assistance to support regional cooperation is valid for the countries of the Caucuses and in some of Eastern Europe, especially the Balkan states. Regional co-operation is seen as a means to mitigate the difficulties of managing a transition from Soviet-command economies to market-based institutions given especially the extreme distances to industrialized marketplaces. Co-operation will not be a natural consequence of existing tendencies that encourage a lack of trust and inward looking national policies. Policy commitments are needed to develop transport, trade and transit within and to the region from foreign markets. The international community must encourage economic cooperation that reduces cross-border political insecurity and provides scope for sustainable economic growth. These efforts may require subsuming bilateral relations under coordinated regional programmes. Copyright © 2001 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper explores divergent perceptions and experiences of social, economic and environmental change of villagers in Southern Cameroon arguing that the economic crisis has impacted very differently on men and women within the same community and within households. The analysis highlights shifts in cropping patterns towards increased food crops, especially cassava and plantain, for cash. Sources of livelihood for men have diversified in the face of economic crisis, whereas women have reduced room to manoeuvre. This results in women becoming increasingly dependent on utilizing non-timber forest products for cash in order to meet their livelihood needs. However pressures on forest are increasing for a number of reasons and access to land and trees is becoming constrained, so future benefits from forest products will be contingent on clear, well defined and enforced community property rights. Copyright © 2001 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

HIV/AIDS is the dominant health issue in Africa, where in many countries the human and social costs are devastating. Any deterioration in economic performance is likely to compound these costs and render countries less able to cope with the epidemic. However, conventional economic theories of growth argue that the impact of such an epidemic on the growth rate and level of income may be positive or negative. The analyses reported in this paper assess the impact of the HIV epidemic upon economic growth performance in 41 African economies between 1960 and 1998. The results indicate that for African countries where the prevalence of HIV is relatively low the impact of the epidemic conforms to ‘normal’ economic expectations. However, when the prevalence of the epidemic is relatively high the macroeconomic impact of the epidemic is unclear. Copyright © 2001 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Provides information on the impact of HIV and AIDS on social and economic development in Africa. Increase in the annual average medical cost for employees according to a study in Zambia; Issue concerning the pricing of anti-retroviral therapy for patients with HIV/AIDS; Significance of community involvement in reducing the spread of the infection.

This paper questions the line of reasoning followed by several authors, notably Easterly and Levine according to which ethno-linguistic fragmentation, because it leads to poor policies, is the main factor explaining the ‘tragedy’ of low African growth. A first set of criticism concerns the model itself and stresses that current empirical work is unable to convincingly identify the channels through which ethnic fragmentation affects growth: (i) polarization may be more relevant than fragmentation, (ii) the various tests of the effect of ethnicity on the quality of policy are far from being conclusive. A second set of remarks concerns the relevance of these studies to Africa: the African sub-sample is often quite limited, and the relationship is unstable (according to Chow tests). It actually appears that ethnicity has a more important effect on growth in Africa than elsewhere. This still needs to be explained and is not as such an explanation for lower African growth. Copyright © 2000 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Amartya Sen has sought to maintain a dialogue with mainstream economics on inequality—a continuing theme in his writing. This paper suggests this dialogue has involved costs. The first and second sections outline where Sen has located himself in the epistemological range that defines acceptable knowledge in the general economics discourse and takes Sen's epistemological principles into the analysis of economic inequality. The third section links Sen's work on causes of famine with his work on inequality and shows how this has given a particular slant to the development of capabilities theory with a focus on the lower end of the inter-personal inequality distribution. The fourth section focuses on the need also for development ethics at the top end of the inequality distribution and economic opulence. The conclusion makes the case for further critical reflection on the top end of the inter-personal distribution and opulence as vital elements in the capabilities approach to improving the human condition, even if this means a greater distancing from mainstream economics than Amartya Sen has found acceptable in the past. Copyright © 2000 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Prior to the Asian financial crisis, it was accepted wisdom to compare the growth of Latin America unfavourably to that of a selection of East and Southeast Asian countries (the so-called high performing Asian economies). This paper presents statistics that indicate that the differences in performance may have been less than as commonly presented. A modified Harrod–Domar model is applied to the Latin American countries, and the results suggest that a major determinant of slower growth in Latin America was the debt service burden. Copyright © 2000 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper outlines the complex historical legacy and structural adjustment efforts in Mozambique in addition to reviewing recent economic developments. An in-depth analysis of new and more reliable national accounts data show that macroeconomic stabilization has occurred through recovery from a suppressed outset. Yet, easy import substitution has now been used up, and structural transformation on the export side remains to be addressed. Moreover, a coherent development strategy geared towards poverty reduction is still to be implemented. The government budget also remains problematic, and aid dependency continues. Accordingly, fundamental development challenges lie ahead. Copyright © 2000 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Presents several featured articles about economic development presented at the 1993 annual conference of the Development Studies Association.

This paper examines the effects of India's reservation policy to help the small-scale enterprises. Empirical tests showed three main results. Firstly, reservation has increased the number of production units, per item produced. Secondly, the units that produce mainly reserved items have higher levels of installed capacities, than those making mainly unreserved items, but the former do not have higher levels of production, thereby resulting in significantly lower levels of capacity utilisation. Thirdly, reservation has not helped reduce the problem of closures of small units. The empirical results suggest that reservation may have brought little help to production and employment in the small-scale units nor to the consumers of their products, while at the same time it may have restricted production and employment in the large units. Thus reservation may have caused a loss in overall economic welfare. Copyright © 1999 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

The Development Assistance Committee (DAC) of the OECD has set target rates of poverty incidence and levels of a number of human development indicators as goals to be met with the aid of development assistance by the years 2005 and 2015. In this paper we assess the likelihood that these goals will be met. We estimate future levels of poverty and human development indicators, using econometric models that capture the past relationship between per capita economic growth and both poverty and human development indicators. Our models use existing projections of future economic growth for the world's major developing regions. We find that for some developing regions achievement of the DAC poverty targets depends critically on the pattern as well as the rate of growth, as targets are only met when high or medium levels of income equality accompany growth. The prospects for achieving the human development targets, particularly gender equity ones, are good for most regions. Copyright © 1999 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

The research analyses small and medium enterprises (SMEs), i.e. township and village enterprises (TVEs), operating in rural China over the last decade. It focuses on factors that affect the growth of TVEs run by Township and Village (TV), defined as collective, at provincial level. The paper examines SME theory and the role of human capital in the SMEs development. Following this, it analyses the development of Chinese TVEs and their role in the socio-economic development of rural areas and of the national economy. A panel analysis is then performed, using provincial panel data of collective TVEs over the period 1986–93, in order to capture the major determinants of provincial growth. The results of the panel estimations highlight some important features of TVEs run by TV sector, and provide empirical evidence in support to the positive role of clustering (measured through a new index) and human capital in the provincial growth of this sector. Copyright © 1999 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper offers an interpretation of China's nexus of foreign trade and economic growth that centres around technological development. Evidence, mainly related to the performance of the machinery sector, is presented indicating that the phenomenal export expansion is not reducible to a market-centred trade regime, and that the standard thesis of export-led growth would not apply—the contribution of trade to growth realises rather through imports. With an emphasis on the central importance of the production side, we present further evidence to substantiate the argument that the relatively successful aspects of the trade–growth nexus have been largely underpinned by a mix of the market mechanism and various non-market institutions. © 1998 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

The issue of sustainability, its definition and measurement, is crucial to current debates in development policy and aid reform. But while all donors demand it few define it in operational terms. This poses serious methodological challenges for evaluators since there are no accepted and uncontested indicators of institutional sustainability. They therefore resort to using quantitative measures such as the calculation of a ‘sustainability rate’. This paper examines different views of institutional sustainability and identifies some of their shortcomings from the standpoint of programme evaluation. Institutional sustainability is seen as a capacity rather than a financial issue. It then suggests the need for qualitative indicators of sustainability and argues that the institution's capacity to learn—as reflected in the relative importance accorded to action and reflection, the way in which the institution deals with ‘discordant information’, and its capacity to conduct and use evaluations—is a key aspect of sustainability. © 1998 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Participatory and process-driven social interventions have a history that dates back to before 1945. Hitherto this history has been presented within management theory as that of Organization Development (OD). An alternative history of OD is presented in this paper, focusing on the contributions of John Collier, Kurt Lewin, Ronald Lippitt and colleagues, and Edgar Schein. This reveals how OD has been constructed from methodologies invented for economic and social development, and summarizes the extensive and critical knowledge of intervention practice that OD provides. This history, and the exclusion of development from orthodox histories of OD is seen to have lessons for the contemporary uses of OD and of participatory interventions in development, and for the creation of a new model of development management. © 1998 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper addresses three aspects of the micro–macro linkage which are of particular interest to economists. First, is the issue of how changes in the macro environment are transmitted to and impact on agents at the micro level. Second, there is the issue of how micro agents react to their environments, and how these different reactions in turn become an aggregate effect which influences macro conditions. The relationship between poverty and growth, and the response of peasant farmers to price changes, are taken as examples to illustrate the discussion. Finally, we address the political dimension of the linkage, namely how can micro agents transmit their experiences and reactions upwards to influence macro policy-makers? © 1997 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

In broad terms, reduction in poverty can come about through redistributions among households at an existing level of average income, or through growth in average incomes, or through a combination of the two. However, both theoretical and empirical considerations suggest that growth of average household incomes is likely to be necessary to achieve sustained long-term poverty reductions. But the pattern of this growth is important; clearly a growth pattern where the benefits accrue disproportionately to the richest in a society will have less poverty impact than one where the benefits are equally distributed or biased towards the poor. This is likely to be particularly important in countries where growth is likely to be slow. This paper reflects on the relationship between growth in household incomes, inequality and poverty. © 1997 by John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper surveys the recent eclipse of various state forms in the Third World claiming the label 'socialist', with particular reference to Africa. Different variants are distinguished and their trajectories since the late 1980s are explained in terms of both internal and external factors. A comparison of economic and social data on (ex-)socialist and overtly capitalist Third World states shows that there is generally no clear basis for distinguishing between them within any broad income band. Finally, the nature and extent of politico-economic change in Africa's erstwhile socialist countries is traced, and is shown to be most marked in the former 'Marxist-Leninist' states. [ABSTRACT FROM AUTHOR]

This paper reviews Indonesia's development record and policy framework, focusing in particular on its industrial policy regime. Although not matching the Asian Tigers in its economic performance since 1970, the country has one of the most creditable records in the Third World. Indonesia has resembled its East Asian neighbours in its generally conservative macroeconomic management and, since the mid- 1980s, in its export orientation. However, it is difficult to discern any evidence to support the proposition that the government's industrial policy--in the sense of selective, micro-level interventions--has contributed to Indonesia's rapid industrialization. A case could be made for more non-discretionary intervention to enhance supply-side capabilities, especially in the areas of education and training. [ABSTRACT FROM AUTHOR]

This paper analyses policies designed to counter poverty and income inequality within a two period overlapping generations model. The baseline is provided by a laissez-faire regime where income in the second period is determined by the human capital of the agent together with the investment in education in the first period. Within the framework of a balanced budget, two policies are examined; the provision of income support alone and then when this is supplemented by additional education for the poor. The latter policy can lead to greater mean income and less poverty and income inequality compared to laissez-faire when income is responsive to educational outlay. [ABSTRACT FROM AUTHOR]

Global Environmental Change is central to the debate on the relationship between environmental degradation and economic development. This paper examines the agreements signed at the Earth Summit held in Rio in 1992 and highlights some implications for developing countries. The interim mechanism for resource transfer under the Conventions is the Global Environmental Facility, but it appears that transfers on a scale necessary to bring about sustainable development as envisaged by Agenda 21 cannot be made through this mechanism alone. It is argued here that other mechanisms to promote development, such as debt relief, should not be ignored. [ABSTRACT FROM AUTHOR]

Economists involved in offering policy advice to developing countries have often expressed frustration at the extent to which political factors within developing countries have thwarted the implementation of effective economic reform. While the focus of economic policy in the first few decades after World War II was on overcoming market failures, since the 1970s the focus has been on overcoming government failures. This paper examines how politics interacts with economic policy, in particular to consider if the new political economy can help us to achieve the political reform that seems essential if economic reform programmes are to be effective. The conclusion is that economic advice, and advisers, must understand the political environment within which policies will be implemented. [ABSTRACT FROM AUTHOR]

Balance of payments problems in many developing countries have created significant challenges to the IMF and World Bank; their response has been inadequate. While these institutions may not have outlived their usefulness, it is worth exploring modifications to the existing institutional structure designed to have a beneficial impact on economic development. If the traditional division of labour between the IMF and the World Bank has broken down in the context of their dealings with developing countries wherein lie the new comparative advantages? This paper proposes and analyses a reorganization of functions between the two institutions that it is claimed would assist. [ABSTRACT FROM AUTHOR]

This paper examines the effect of the external debts of less developed countries (LDCs) on their exports to the United States. Specifically, the effect that manifests as pressure on the 48 most indebted LDCs to export to the US is investigated. Cross-sectional regression analysis and data for 1984 are used in the estimation. The estimates show that the burden of external debts put significant pressure on LDCs to export. The estimates also suggest that the LDCs are conscious of their creditworthiness in the international financial market. Furthermore, the results highlight the inadequacy of the current General Agreement on Tariffs and Trade (GATT) negotiations that focus on trade in goods and services to the exclusion of the LDCs' debt problem. GATT negotiations should give LDCs' market access to industrialized countries greater weight on its agenda as an attempt at tackling the LDCs' debt problem. This is necessary for the long-term growth of these LDCs, a concern to which enough attention has not been paid. In addition. Western donor countries and their banks should provide more debt relief to these debtor countries. This will enable LDCs to retain a substantial part of their export earnings. Uncertainty is reduced, thus providing the much-needed impetus for entrepreneurs in these poor economies to commit themselves to long-term investments. This will guarantee long-term economic growth. [ABSTRACT FROM AUTHOR]

This paper critically examines the UNDP's Human Development Index (HDI). We conclude that its treatment of income is inappropriate; the lack of year-to-year comparability is undesirable; it is robust with respect to measurement error; and that its contribution to the assessment of development levels differs markedly among country groups. [ABSTRACT FROM AUTHOR]

This paper reviews the academic literature on the macroeconomic impact of development aid, with a special emphasis on the question as to whether, as claimed by much of the empirical literature, aid does not increase growth. The inadequate theoretical foundation of models of aid's impact on savings, in particular their failure to consider economy-wide effects, make them a poor basis for conclusions about aid's impact. The combination of weak theory with poor econometric methodology makes it difficult to conclude anything about the relationship between aid and savings. The literature on the relationship between aid and growth suffers from similar problems. Country-level studies of aid's impact on a range of macroeconomic variables are required which may build on the relatively small existing literature in this area. [ABSTRACT FROM AUTHOR]

The paper summarizes the results of a major study by the World Bank which evaluates the effects of its adjustment lending in the 1980s in relation to policies for increased growth. Reforms undertaken by Bank adjustment programmes usually contain a macro component designed to bring aggregate demand into balance with aggregate supply, and a micro component designed to increase aggregate supply itself. Countries are grouped into three categories: 'early intensive adjustment lending' (EIAL), 'other adjustment lending' (OAL) and 'non-adjustment lending' (NAL), and the major findings are that EIAL countries, taken as a group, had better growth performance, markedly better export performance, and worse investment performance (public and private) than countries in the other two groups, even when the influence of external factors such as terms of trade and weather is netted out. The negative effect on investment is worrying in the light of its implications for long-term growth, and is interpreted in terms of the lack of credibility attaching to a number of government reform programmes. Available data on social indicators -- though incomplete -- suggest that Bank adjustment lending has not increased absolute poverty, but the shares of central government expenditures for health and education declined on average in the EIAL countries for which data exist. To improve the record on aggregate growth, the report concludes that adjustment policies need to focus more on removing major distortions that reduce efficiency and on creating conditions favourable to renewed investment, particularly by the private sector. [ABSTRACT FROM AUTHOR]

Abstract: This article presents a synopsis of the contextual conditions, factors and challenges under which the recent evolution of tax systems has taken place, as an introduction to this United Nations University‐World Institute for Development Economics Research Special Issue. The article, as the studies in this collection, gives especial emphasis to the role natural endowments, political economy, social structure and history, and the interplay between politics and tax revenues. These are relevant issues, considering that the Millennium Development Goals and now the Sustainable Development Goals have placed fiscal policy, and tax policy and revenue mobilisation in particular, at the centre of national and international development efforts. Delivering on the Sustainable Development Goals will require a level of state revenue mobilisation capacity in many ways unprecedented in the history of development policy. © 2018 UNU‐WIDER. Journal of International Development published by John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

The U-shaped relationship between economic development and female work force participation rate may be explained at the household level in terms of the interaction between social factors and the income of the household. The social attitude and income are likely to be influenced by education, which augments the income on the one hand and on the other shifts women from stigmatised jobs to non-stigmatised jobs and also reduces the adverse social response towards women participation in the labour market. The shift across sectors of employment is also motivated by education, implying positive associations between education and high productivity jobs. Copyright © 2014 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This study investigates the impact of microfinance outreach on aggregate economic well‐being. We specifically examine the effect of microfinance outreach on aggregate welfare, as measured by income and household consumption growth, across 108 countries over the period 2005–2015. Our empirical results confirm the aptitude of microfinance outreach to enhance aggregate welfare. Mainly, the average loan balance per borrower and the percentage of women borrowers positively impacted aggregate welfare. Additionally, outreach affects consumption growth strongly. Therefore, this study upholds the incorporation of microfinance into policies targeting aggregate welfare and economic development. [ABSTRACT FROM AUTHOR]

We review recent empirical literature on the relationship between openness and the level of national income or, nearly equivalently, trade liberalisation and economic growth. Recent advances reinforce the presumption of a positive causal link from trade to income, especially by solving endogeneity issues more carefully than heretofore and by allowing for heterogeneity between countries. Heterogeneity suggests that low-income countries may benefit less from trade liberalisation than do other countries, but this is not completely settled. We also argue for analysing policy decisions on trade policy with tools from decision theory rather than those from hypothesis testing. © 2013 Crown copyright. Journal of International Development © 2013 John Wiley & Sons Ltd. [ABSTRACT FROM AUTHOR]

We develop a growth-employment model that decomposes the Indonesian economy into six components, based on a combination of economic sectors and location, and ascertain the sectors that created the most jobs in Indonesia over the past two decades. We find that urban employment is mostly driven by higher growth in the services sector, especially areas that require skilled personnel. Meanwhile, the agriculture sector growth still drives employment in rural areas, although it appears that the services sector also creates a significant number of jobs. Based on these findings, we provide some policy recommendations. Copyright © 2011 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Microstructure aspects of nominal exchange rate determination are less relevant in countries with embryonic financial markets. In less-developed economies, trade in goods and services is a more significant driver of currency demand than financial market speculation or hedging, and central banks actively set monetary variables. We develop a simple variation of the standard monetary model of exchange rate determination, incorporating interest rate rules but not relying on interest rate parity, and study the effect of monetary fundamentals on the Mozambican exchange rate. We find a long-run relationship between fundamentals and exchange rates, with coefficient signs in regression equations consistent with theoretic predictions. Moreover, the monetary model outperforms a random walk in predicting metical exchange rates out of sample at the four-quarter horizon. Copyright © 2011 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Contradictions between the right to education and education as a tool to foster human resource development (HRD) and ultimately economic growth have moved to the forefront of debates on education policy and practice, within states and in relation to the international agenda on education and development. This introduction discusses the often paradox choices faced by education policy makers in light of those contradictory dynamics. It is argued that a focus on HRD is not only a legitimate education policy objective at national government level, but it can also have an important role to play in securing children's rights and a self-determined life. At the same time, however, education policy design needs to pay strong attention to local contexts and people's aspirations within that context. Ultimately, the realisation of the right to education is not achieved by policy measures alone but will be the outcome of social and political struggles. Copyright © 2011 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Cross-sectional studies of growth in post-colonial Africa have overwhelmingly focussed on explaining the failure of growth in Africa. This prompting stylised fact has its qualifications and when these are taken into consideration the explanations of African economic growth appear incoherent. The notion of a chronic African growth failure has diverted attention from the process of economic growth and left important questions unaddressed. The quest for the African dummy has delivered transferable conclusions with a strong impact on the writing of African economic history. This critical survey of the literature argues that African economic performance needs to be evaluated from a different perspective. Copyright © 2009 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Three critiques of participatory development (PD) and their respective challenges for expert support are discussed—(i) the masking of ideological imperatives behind PD, (ii) the depoliticising practice of policy language and (iii) the restrictive space for enabling responsible support from different fields of expertise including science. Drawing on the experience of two interventions—one Guyana based and one European based—three conceptual tools are suggested for dealing with these issues, respectively. First, systems thinking is described from a critical systems perspective, interrogating the legitimacy of boundaries that we use to frame reality. Second, social learning is considered as a complementary policy instrument in which language and communication are regarded as integral to development. Third, critical space for systems thinking and social learning is examined with reference to the limitations of space provided by conventional project management. Copyright © 2008 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This work investigates the roots of economic development. The debate about the predominance of institutions over geography is far from reaching a firm conclusion, and this analysis highlights the main difficulties that should be addressed in order to find out the real determinants of long-run economic growth. I argue that the institutional view is not as strong as it may appear: different specifications and different institutional indicators undermine the exclusive importance of institutions. Geographical factors, related to the health and sanitary conditions and to the accessibility to the sea of a country, play a role in economic development, that goes beyond the way in which they shape institutions. The empirical evidence implies that the development policies should be directed to improving not only the quality of governance, but also the sanitary conditions in the least developed countries. However, since there is a lack of accurate indicators and difficult problems of endogeneity, more reliable instruments and indicators of geography and institutions are needed in order to achieve a firm conclusion. Copyright © 2005 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper investigates the relationship between foreign aid and growth in per capita GDP using annual data from the 1960 to 1997 period for a sample of 71 aid-receiving developing economies. The results show that the effect of foreign aid on economic growth is positive, permanent, statistically significant, and sizable: raising foreign aid by $20 per person of the receiving country results in a permanent increase in the growth rate of real GDP per capita by approximately 0.16 per cent. Using an alternative foreign-aid measure, a permanent increase in aid by 1 per cent of the receiving economy's GDP permanently raises the per capita growth rate by 0.14 to 0.26 per cent. Copyright © 2006 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This introductory article provides an overview of the Development Studies Association's 2003 annual conference, the theme of which was Globalization and Development. A brief summary of the articles that have been based on three plenary addresses follows the overview, together with outlines of the contents of the seven other articles included in this special issue of the Journal of International Development. Opposing views about the role of globalization in international development, particularly as it relates to developing countries, are then summarized within in a broad historical context. Some of the published evidence concerning the economic impact of globalization is then presented, continuing the adversarial standpoints of opposing ‘camps’. The introduction is concluded with some discussion about future prospects for a ‘globalized’ world. Copyright © 2004 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Provides an overview of the research into the public faces of development. Theory and research; Changes in global relations; Conclusion.

Using panel data from three nationwide surveys in Zimbabwe, an error components model is estimated to explore the factors that drive the small-enterprise sector. Among labour-intensive industries in urban areas, entry of new enterprises appears to be driven by surplus labour. This is supported by low barriers to entry and the negative relationship between economic growth and entry rates. In contrast, entry in capital-intensive industries is unrelated to economic growth and it is characterized by significant barriers to entry, including capital, working capital, and proprietor experience. With the exception of labour-intensive industries in rural areas, entry in all other small-enterprise industries is positively correlated with agricultural income. Copyright © 2003 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Explains the effectiveness of state intervention in achieving economic development in Japan, South Korea and Taiwan prior to the Asian financial crisis. Overview of the conventional model of the development process; Influence of public investments in education and infrastructure on economic growth; Role of the traditional agricultural sector in industrialization.

In recent times there have been a proliferation of national, sectoral and local development policies on poverty eradication in the developing countries. This study of the Jamaican poverty reduction initiative aimed to find out whether some of these programmes have transcended some of the elementary policy problems that have been widely covered in the development management literature since the 1960s. The Government of Jamaica contends that its overall social policy, and especially the National Poverty Eradication Programme (NPEP), instituted from 1997–2000 may have contributed towards the reduction of absolute poverty levels that have been recorded in the last half-decade. This writer argues otherwise. This is because a close examination of the management of the NPEP per se revealed deep-seated problems. These included a weak political analysis, poor co-ordination at the macro and street levels and a lack of adequate institutional support from the bureaucracy. The essay suggests ways towards improved governance. Copyright © 2002 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Focuses on the role of cities in economic development. Impact of the growth of urban economics on the social conditions of poor residents; Link between urban economic growth and poverty reduction; Role of municipal governments in supporting the development of human capital.