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New IMF research on aid and growth

IMF Chief Economist Raghuram Rajan and Arvind Subramanian, IMF Head of Macroeconomic Studies, just released a working paper returning to the contentious question of whether or not aid leads to growth. Entitled Aid and Growth: What Does the Cross-Country Evidence Really Show?, the paper finds no robust evidence linking the two. Additionally, the authors challenge the Burnside and Dollar claim that aid works best in good policy environments.

Wolfowitz stresses private-sector role in Africa

At last weeks US-Africa Business Summit in Baltimore, World Bank President Paul Wolfowitz stressed the important role that the private sector can play in Africa’s future development and growth:

How well do you know Africa?

Adi2005 In light of this week’s release of the 2005 African Development Indicators, here is an online quiz on Africa to test your knowledge.

A strong message which jumps out of the report are the strong and marked contrasts between the continent’s countries:

The Girl in the Café

Lots of hype, started well, ended in disappointment – well maybe not officially, but at least that’s my view. Had heard great things about “The Girl in the Café” – the new HBO/BBC romantic comedy set in the upcoming G8 summit and packed with development economics and social commentary – and through the first 30 minutes everything was going fine. Then came the long unoriginal speeches and a focus on the lacking convictions of the delegates instead of the severity of the problem at hand.

Impacts of China’s “dangerous” energy strategy?

On the behalf of imagery, some words from Sebastian Mallaby:

“Some people fear the economic threat from China. Others fret about expensive oil. With the skill of an accomplished arsonist, China has now poured gas on the flames of these separate anxieties, turning two medium-size fires into a single inferno.”

US Supreme Court vs. Property Rights

Everyone is talking about today's US Supreme Court decision allowing the seizure of private property for development purposes, as long as the seizure serves a “public use.” Justice Sandra Day O’Connor's dissention was quite strong:


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