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Education and Productivity in Developing Countries
Education is an important determinant of aggregate real output and productivity, but its effect varies considerably across countries and regions- ranging from negative to more than 5 percent a year in this sample.
Democracy's Victory and Crisis
Leading scholars from a range of disciplines address questions central to the development and survival of democratic rule.
Sensible Debt Buybacks for Highly Indebted Countries
Concerted agreements in which debt repurchases are linked to reduced interest rates or new-money requirements can make buybacks at a fair price viable, while preventing a free-rider problem among riders.
Foreign Direct Investment in Sub-Saharan Africa
Foreign investment is even less likely to meet Sub-Saharan Africa's rising foreign exchange and savings gaps in the 1990s than in the dismal 1980s. Investors interested in Sub-Saharan Africa are more likely to commit technology and management than equity capital. Economic activity and overall economic policy may be more effective at raising the total volume of investment than special fiscal and other incentives.
