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Africa's growth tragedy: policies and ethnic divisions

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W Easterly… - The Quarterly Journal of Economics, 1997 - qje.oxfordjournals.org
Abstract Explaining cross-country differences in growth rates requires not only an
understanding of the link between growth and public policies, but also an understanding of
why countries choose different public policies. This paper shows that ethnic diversity helps ...
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Fiscal policy and economic growth

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W Easterly… - Journal of monetary economics, 1993 - Elsevier
Abstract This paper describes the empirical regularities relating fiscal policy variables, the
level of development, and the rate of growth. We employ historical data, recent cross-section
data and newly constructed public investment series. Our main findings are:(i) there is a ...
Cited by 1959 - Related articles - Library Search - BL Direct - All 20 versions

Public goods and ethnic divisions

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A Alesina, R Baqir… - The Quarterly Journal of …, 1999 - qje.oxfordjournals.org
Abstract We present a model that links heterogeneity of preferences across ethnic groups in
a city to the amount and type of public goods the city supplies. We test the implications of the
model with three related data sets: US cities, US metropolitan areas, and US urban ...
Cited by 1591 - Related articles - Library Search - BL Direct - All 35 versions

[BOOK] The white man's burden: why the West's efforts to aid the rest have done so much ill and so little good

[PDF] from virginia.edu
W Easterly - 2006 - books.google.com
An informed and excoriating attack on the tragic waste, futility, and hubris of the West's
efforts to date to improve the lot of the so-called developing world, with constructive
suggestions on how to move forward. William Easterly's The White Man's Burden is about ...
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Tropics, germs, and crops: how endowments influence economic development

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W Easterly… - Journal of monetary economics, 2003 - Elsevier
Does economic development depend on geographic endowments like temperate instead of
tropical location, the ecological conditions shaping diseases, or an environment good for
grains or certain cash crops? Or do these endowments of tropics, germs, and crops affect ...
Cited by 1391 - Related articles - Library Search - BL Direct - All 58 versions

What have we learned from a decade of empirical research on growth? It's Not Factor Accumulation: Stylized Facts and Growth Models

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W Easterly… - The World Bank Economic Review, 2001 - World Bank
Abstract The article documents five stylized facts of economic growth.(1) The “residual”(total
factor productivity, tfp) rather than factor accumulation accounts for most of the income and
growth differences across countries.(2) Income diverges over the long run.(3) Factor ...
Cited by 1166 - Related articles - BL Direct - All 55 versions

Inflation crises and long-run growth

M Bruno… - 1995 - nber.org
Recent literature suggests that long-run averages of growth and inflation are only weakly
correlated and such correlation is not robust to exclusion of extreme inflation observations;
inclusion of time series panel data has improved matters, but an aggregate parametric ...
Cited by 1022 - Related articles - Library Search - BL Direct - All 22 versions

Good Policy or Good Luck?

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W Easterly, M Kremer, L Pritchett… - Journal of Monetary …, 1993 - Elsevier
Abstract Much of the new growth literature stresses country characteristics, such as
education levels or political stability, as the dominant determinant of growth. However,
growth rates are highly unstable over time, with a correlation across decades of 0.1 to 0.3, ...
Cited by 743 - Related articles - Library Search - BL Direct - All 21 versions

New data, new doubts: A comment on Burnside and Dollar's" aid, policies, and growth"(2000)

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W Easterly, R Levine… - 2003 - nber.org
The Burnside and Dollar (2000, AER) finding that aid raises growth in a good policy
environment has had an important influence on policy and academic debates. We conduct a
data gathering exercise that updates their data from 1970-93 to 1970-97, as well as filling ...
Cited by 730 - Related articles - Library Search - BL Direct - All 30 versions

Can foreign aid buy growth?

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W Easterly - The Journal of Economic Perspectives, 2003 - ingentaconnect.com
Abstract: The widely publicized finding that" aid promotes growth in a good policy
environment" is not robust to the inclusion of new data or alternative definitions of" aid,""
policy" or" growth." The idea that" aid buys growth" is on shaky ground theoretically and ...
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The lost decades: developing countries' stagnation in spite of policy reform 1980–1998

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W Easterly - Journal of Economic Growth, 2001 - Springer
I document in this paper a puzzle thathas not received previous attention in the literature. In
1980–98, median per capita income growth in developing countries was 0.0 percent, as
compared to 2.5 percent in 1960–79. Yet I documentin this paper that variables that are ...
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[HTML] Shaken and stirred: explaining growth volatility

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W Easterly, R Islam… - Annual World Bank Conference …, 2001 - books.google.com
This article explores the relationship between volatility in economic growth and various
institutional factors. Its main hypothesis is that in explaining volatility, the traditional
macroeconomic literature has overemphasized such factors as wage and price rigidities ...
Cited by 413 - Related articles - All 9 versions

Small states, small problems? Income, growth, and volatility in small states

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W Easterly… - World development, 2000 - Elsevier
Small states have attracted a large amount of research. In this paper we test whether small
states are any different from other states in terms of their income, growth, and volatility
outcomes. We find that, controlling for location, small states have higher per capita GDP ...
Cited by 408 - Related articles - Library Search - BL Direct - All 28 versions

Life during growth

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W Easterly - Journal of economic growth, 1999 - Springer
A remarkable diversity of indicators shows quality of life across nations to be positively
associated with per capita income. At the same time, the changes in quality of life as income
grows are surprisingly uneven. Either in levels or changes, moreover, the effect of ...
Cited by 354 - Related articles - Library Search - BL Direct - All 30 versions

How much do distortions affect growth?

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W Easterly - Journal of Monetary Economics, 1993 - Elsevier
Abstract This paper presents a simple endogenous growth model with two types of capital
which can display sizeable long-run growth effects of distortionary policies. The model
applies to many different types of distortions of relative prices common in developing ...
Cited by 347 - Related articles - Library Search - All 9 versions

[BOOK] Can institutions resolve ethnic conflict?

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W Easterly - 2000 - books.google.com
Ethnic diversity has a more adverse effect on economic policy and growth when a
government's institutions are poor. But poor institutions have an even more adverse effect on
growth and policy when ethnic diversity is high.
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The middle class consensus and economic development

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W Easterly - Journal of economic growth, 2001 - Springer
A middle class consensus is defined as a high share of income for the middle class and a
low degree of ethnic divisons. The paper links a middle class consensus to resource
endowments, along the lines of the provocative thesis of Engerman and Sokoloff (1997 ...
Cited by 287 - Related articles - BL Direct - All 8 versions

Inflation and the Poor

[PDF] from worldbank.org
W Easterly… - Journal of Money, Credit and Banking, 2001 - JSTOR
Using polling data for 31,869 households in thirty-eight countries and allowing for country
effects, we show that the poor are more likely than the rich to mention inflation as a top
national concern. This result survives several robustness checks. We also find direct ...
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The cartel of good intentions: the problem of bureaucracy in foreign aid

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W Easterly - The Journal of Policy Reform, 2002 - Taylor & Francis
Well-meaning national and international bureaucracies dispense foreign aid under
conditions in which bureaucracy fails. The environment that created aid bureaucracies led
those organizations to (a) define their output as money disbursed rather than service ...
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Has Latin America's post-reform growth been disappointing?

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W Easterly, N Loayza… - Journal of International Economics, 1997 - Elsevier
After years of poor macroeconomic performance, many Latin American countries undertook
ambitious programs of macroeconomic stabilization and structural reform during recent
years. The change in policy created high expectations for the region. Some observers ...
Cited by 263 - Related articles - Library Search - BL Direct - All 15 versions

National policies and economic growth: a reappraisal

[PDF] from unibo.it
W Easterly - Handbook of Economic Growth, 2005 - Elsevier
Abstract The new growth literature, using both endogenous growth and neoclassical
models, has generated strong claims for the effect of national policies on economic growth.
Empirical work on policies and growth has tended to confirm these claims. This paper ...
Cited by 258 - Related articles - All 31 versions

The Soviet economic decline: historical and republican data

[PDF] from washington.edu
W Easterly… - 1994 - nber.org
Soviet growth over 1960-89 was the worst in the world after we control for investment and
human capital; the relative performance worsens over time. The declining Soviet growth rate
over 1950-87 is explained by the declining marginal product of capital; the rate of TFP ...
Cited by 253 - Related articles - Library Search - BL Direct - All 17 versions

The ghost of financing gap: testing the growth model used in the international financial institutions

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W Easterly - Journal of Development Economics, 1999 - Elsevier
The Harrod–Domar growth model supposedly died long ago. Still today, economists in the
international financial institutions (IFIs) apply the Harrod–Domar model to calculate short-run
investment requirements for a target growth rate. They then calculate a “financing gap” ...
Cited by 236 - Related articles - All 8 versions

What do cross-country studies teach about government involvement, prosperity, and economic growth?

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J Slemrod, WG Gale… - Brookings Papers on Economic Activity, 1995 - JSTOR
OVER THE LAST three decades, in all industrialized countries, there has been an enormous
expansion of government involvement in the economy, as measured by the share of national
income going to taxes or government expenditures. Figure 1 shows that, averaged over ...
Cited by 217 - Related articles - BL Direct - All 12 versions

The economics of the government budget constraint

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S Fischer… - The World Bank Research Observer, 1990 - World Bank
Abstract This article summarizes the simple analytics of the macroeconomic effects of
government budget deficits. The presentation is organized around three key relationships:
the national income accounts budget deficit identity, the deficit financing identity, and the ...
Cited by 222 - Related articles - Library Search - All 16 versions

[PDF] Public sector deficits and macroeconomic performance

[PDF] from 198.173.123.103
WR Easterly, CA Rodríguez, K Schmidt-Hebbel… - 1994 - 198.173.123.103
Page 1. Public Sector Deficits and Macroeconomic Performance Edited by William
Easterly Carlos Alfredo Rodriguez Klaus Schmidt-Hebbel Published for the World
Bank Oxford University Press Page 2. 1 Fiscal Adjustment and ...
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When is fiscal adjustment an illusion?

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W Easterly - Economic Policy, 1999 - Wiley Online Library
Fiscal adjustment is an illusion when it lowers the budget deficit or public debt but leaves
government net worth unchanged. Conventional measures of the budget deficit largely show
the change in public sector debt. Ideally, the measured deficit would reflect the change in ...
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[BOOK] The elusive quest for growth: economists' adventures and misadventures in the tropics

[PDF] from srce.hr
WR Easterly… - 2001 - hrcak.srce.hr
... socijalne politike. Siniša Zrinščak THE ELUSIVE QUEST FOR GROWTH:
ECONOMISTS' ADVENTURES AND MISADVENTURES IN THE TROPICS William
Easterly Cambridge; London, The MIT Press, 2002., 342 str. Malo je ...
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Redistributive public employment

[PDF] from harvard.edu
A Alesina, R Baqir… - 1998 - nber.org
Politicians may use disguised'redistributive policies in order to circumvent opposition to
explicit tax-transfer schemes. First, we present a theoretical model that formalizes this
hypothesis; then we provide evidence that in US cities, politicians use public employment ...
Cited by 171 - Related articles - Library Search - BL Direct - All 19 versions

Social cohesion, institutions, and growth

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W Easterly, J Ritzen… - Economics & Politics, 2006 - Wiley Online Library
P olicy and institutional quality are to a large extent endogenous. While the truth of this
statement is familiar to most development scholars, the implications of it have drawn
relatively little empirical attention. Understanding more about this relationship matters, ...
Cited by 167 - Related articles - BL Direct - All 20 versions

How did heavily indebted poor countries become heavily indebted? Reviewing two decades of debt relief

[PDF] from 128.97.165.17
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W Easterly - World Development, 2002 - Elsevier
The paradox of debt is that heavily indebted poor countries (HIPCs) became heavily
indebted after two decades of debt relief efforts. Average policies in HIPCs 1980–97 were
worse than other less-developed countries (LDCs), controlling for income. Terms of trade ...
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What did structural adjustment adjust?: The association of policies and growth with repeated IMF and World Bank adjustment loans

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W Easterly - Journal of development economics, 2005 - Elsevier
Analysis of adjustment loans often overlooks their repetition to the same country. Repetition
changes the nature of the selection problem. None of the top 20 recipients of repeated
adjustment lending over 1980–99 were able to achieve reasonable growth and contain all ...
Cited by 161 - Related articles - All 21 versions

[PDF] Inflation and growth: in search of a stable relationship

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M Bruno… - Growth, 1996 - c.research.stlouisfed.org
In this article, we characterize the literature on inflation and growth. Aware of the limits of our
comparative advantage, we do not intend to do a general survey of the literature. Instead, we
look at the aspects of the literature that motivated us to pursue one particular angle in our ...
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Inequality does cause underdevelopment: Insights from a new instrument

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W Easterly - Journal of Development Economics, 2007 - Elsevier
Consistent with the provocative hypothesis of Engerman and Sokoloff [Engermann, Stanley
and Kenneth Sokoloff (1997),“Factor Endowments, Institutions, and Differential Paths of
Growth Among New World Economies: A View from Economic Historians of the United ...
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[BOOK] The limits of stabilization: infrastructure, public deficits, and growth in Latin America

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WR Easterly… - 2003 - books.google.com
Page 1. The Limits of Stabilization INFRASTRUCTURE, PUBLIC DEFICITS, AND
GROWTH IN LATIN AMERICA Edited by William Easterly Luis Servei i Page 2. Page
3. The Limits of Stabilization Page 4. Page 5. The Limits of ...
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When is stabilization expansionary? Evidence from high inflation

W Easterly, T Kollintzas… - Economic Policy, 1996 - JSTOR
Countries which stabilize from high inflation--here defined as an annual rate above 40%--
usually have output expansions in the first and subsequent years of stabilization. These
expansions occur in both exchange-rate-based and money-based stabilizations. The ...
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New data, new doubts: revisiting'aid, policies, and growth'

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W Easterly, R Levine… - Center for Global …, 2003 - papers.ssrn.com
Abstract: The Burnside and Dollar (2000) finding that aid raises growth in a good policy
environment has had an important influence on policy and academic debates. We conduct a
data gathering exercise that updates their data from 1970-93 to 1970-97, as well as filling ...
Cited by 140 - Related articles - BL Direct - All 21 versions

Inequality does cause underdevelopment: New evidence

[PDF] from ucla.edu
W Easterly - Center for Global Development Working Paper No. 1, 2002 - papers.ssrn.com
Abstract: This paper argues that the conflicting results in the voluminous recent literature on
inequality and growth are missing the big picture on inequality and long-run economic
development. Consistent with the provocative hypothesis of Engerman and Sokoloff 1997 ...
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Reliving the 1950s: the big push, poverty traps, and takeoffs in economic development

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W Easterly - Journal of Economic Growth, 2006 - Springer
Abstract The classic narrative of economic development—poor countries are caught in
poverty traps, out of which they need a Big Push involving increased investment, leading to
a takeoff in per capita income—has been very influential in foreign aid debates since the ...
Cited by 136 - Related articles - BL Direct - All 37 versions

The search for the key: aid, investment and policies in Africa

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D Dollar… - Journal of African Economies, 1999 - CSAE
Abstract The traditional aid-to-investment-to growth linkages are not very robust, especially
for African economies. Aid does not necessarily finance investment and investment does not
necessarily promote growth. Differences in economic policy, on the other hand, can ...
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Do crises induce reform? Simple empirical tests of conventional wisdom

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A Drazen… - Economics & Politics, 2001 - Wiley Online Library
We find evidence for the crisis-induces-reform hypothesis at extreme values of the inflation
rate and the black market premium. Episodes of extremely high inflation or black market
premiums are followed by periods of better performance than episodes of moderately high ...
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[BOOK] The middle class consensus and economic development

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W Easterly - 2000 - books.google.com
A higher share of income for the middle class and lower ethnic polarization are empirically
associated with higher income, higher growth, more education, better health, better
infrastructure, better economic policies, less political instability, less civil war (putting ...
Cited by 125 - Related articles - Get it from MIT Libraries - Library Search - All 11 versions

[PDF] It's not factor accumulation: Stylized facts and growth models

[PDF] from bcentral.cl
W Easterly… - Central Bank of Chile Working Papers, 2002 - bcentral.cl
Abstract We document five stylized facts of economic growth.(1) The “residual” rather than
factor accumulation accounts for most of the income and growth differences across
nations.(2) Income diverges over the long run.(3) Factor accumulation is persistent while ...
Cited by 121 - Related articles - All 19 versions

Troubles with the neighbours: Africa's problem, Africa's opportunity

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W Easterly… - Journal of African Economies, 1998 - CSAE
Abstract There is systematic contagion across national borders. Favourable or unfavourable
growth performance of one's neighbours tends to influence one's own long-run growth rate.
Policy choices are also contagious across borders. While improving policies alone boosts ...
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[BOOK] On" good" Politicians and" bad" Policies: Social Cohesion, Institutions, and Growth

[PDF] from rwbsocialplanners.com.au
J Ritzen, W Easterly, MJV Woolcock… - 2000 - rwbsocialplanners.com.au
Policy and institutional quality are to a large extent endogenous. This statement reflects the
constraints to policy reform, constraints that can be a major impediment to changes that are
dearly needed to bring about better living standards for all people, but especially the poor. ...
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Where does the money go? Best and worst practices in foreign aid

[PDF] from cigilibrary.org
W Easterly… - … and Development Working Paper No. 21, 2008 - papers.ssrn.com
Abstract: This paper does not address the issue of aid effectiveness-that is, the extent to
which aid dollars actually achieve their goals-but instead focuses on best practices in the
way in which official aid is given, an important component of wider debate. First, we ...
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[BOOK] Money demand and seignorage-maximizing inflation

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WR Easterly, P Mauro… - 1992 - books.google.com
... 15 Policy Research WORKING PAPERS Transition and Macro-Adjustment MSrTS IM1 Country
Economics Department The World Bank November 1992 WPS 1049 a> N Money Demand and
Seignorage-Maximizing Inflation < o Z3 (/) o o </) Q o 15 William Easterly Paolo Mauro ...
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Economic stagnation, fixed factors, and policy thresholds

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W Easterly - Journal of Monetary Economics, 1994 - Elsevier
Abstract An endogenous growth model with fixed factors predicts that countries will stagnate
if policies pass a threshold; initial income does not affect whether a country stagnates. For
growing countries, the model has transitional dynamics where growth first accelerates and ...
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Governing the Global Economy: Does One Architectural Style Fit All?[with Comments and Discussion]

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D Rodrik, W Easterly… - Brookings Trade Forum, 1999 - JSTOR
Financial market deregulation sets off a credit boom and an explosion in equity and real
estate prices. Private sector debt shoots up from 85 percent of gross domestic product (GDP)
to 135 percent within five years. The economy becomes overheated, generating sizable ...
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[BOOK] Marginal income tax rates and economic growth in developing countries

[PDF] from worldbank.org
W Easterly, S Rebelo… - 1992 - www-wds.worldbank.org
One of the central predictions of growth theory, old and new, is that income taxes have a
negative effect on the pace of economic expansion. In the Cass-Koopmans version of the
neoclassical model and in the Lucas (1988) model, a higher income tax rate reduces the ...
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Africa's growth tragedy: a retrospective, 1960-89

W Easterly… - 1995 - ideas.repec.org
Africa's economic history since 1960 fits the classical definition of tragedy: potential
unfulfilled with disastrous consequences. The authors use one mehthodology-cross-country
regressions-to account for sub-Saharan Africa's growth performance over the past 30 ...
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Policy, technology adoption, and growth

W Easterly, R King, R Levine… - 1994 - nber.org
This paper describes a simple model of technology adoption which combines the two
engines of growth emphasized in the recent growth literature: human capital accumulation
and technological progress. Our model economy does not create new technologies, it ...
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The effect of IMF and World Bank programs on poverty

[PDF] from unu.edu
W Easterly - WIDER Development Conference 'Growth and …, 2001 - papers.ssrn.com
Abstract: Structural adjustment, as measured by the number of adjustment loans from the
IMF and World Bank, reduces the effect of growth on poverty reduction. Growth does reduce
poverty, but I find no evidence for a direct effect of structural adjustment on growth. Instead ...
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Fiscal deficits and macroeconomic performance in developing countries

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W Easterly… - The World Bank Research Observer, 1993 - World Bank
Abstract Although fiscal adjustment was urged on developing countries during the 1980s to
lead them out of economic malaise, considerable uncertainty remains about the relations
between fiscal policy and macroeconomic performance. To illustrate how financial ...
Cited by 90 - Related articles - BL Direct - All 9 versions

How the Millennium development goals are unfair to Africa

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W Easterly - World Development, 2009 - Elsevier
Those involved in the millennium development goal (MDG) campaign routinely state “Africa
will miss all the MDGs.” This paper argues that a series of arbitrary choices made in defining
“success” or “failure” as achieving numerical targets for the MDGs made attainment of the ...
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[BOOK] The ghost of financing gap: how the Harrod-Domar growth model still haunts development economics

[HTML] from google.com
WR Easterly - 1997 - books.google.com
... Z3 (/) o o Q o 15 U)P,S \l*l Policy Research Working Paper L807 a> N < o Z3 The Ghost of
Financing Gap ^ahcflofakxwiead qrowth model still haunts aid How the Harrod-Domar t0
deve,opin9 countr,es Growth Model Still Haunts Development Economics -g William Easterly ...
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Was development assistance a mistake?

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W Easterly - The American economic review, 2007 - JSTOR
Development assistance is the combination of money, advice, and conditions provided by
rich nations and international financial institutions, such as the World Bank and International
Monetary Fund (IMF), which is designed to achieve economic development in poor ...
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Low Investment Is Not the Constraint on African Development*

[PDF] from mecon.gov.ar
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S Devarajan, WR Easterly… - Economic Development and Cultural …, 2003 - JSTOR
... the form of technical progress.7 Peter J. Klenow and Andres Rodriguez‐Clare also cast doubt
on Young's results by showing that the cross‐country variation in TFP growth rates accounts for
92% of the cross‐country variation in per capita growth.8 William Easterly and Ross ...
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[CITATION] The Pan-American dream: do Latin America's cultural values discourage true partnership with the United States and Canada?

LE Harrison… - 1997 - isbn.im
Title: The Pan-american Dream: Do Latin America's Cultural Values Discourage True Partnership
With The United States And Canada? Author: Lawrence E. Harrison, Publisher: Westview Press
Pages: 320 Published: 1998-02-06 ISBN-10: 0813334705 ISBN-13: 9780813334707 ...
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[BOOK] How did highly indebted poor countries become highly indebted?: reviewing two decades of debt relief

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WR Easterly - 1999 - books.google.com
... Reviewing Two Decades of Debt Relief William Easterly Theoretical models predict
that countries with unchanged long-run savings preferences will respond to debt
relief by running up new debts or by running down assets. ...
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[PDF] The political economy of growth without development: A case study of Pakistan

[PDF] from relooney.info
W Easterly - Paper for the Analytical Narratives of Growth Project, …, 2001 - relooney.info
Abstract: Political economy models of growth and public service provision stress the
incentives of the elite under high inequality to under-invest in the human capital of the
majority. Other political economy models stress that ethnic divisions will lead to low public ...
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Are aid agencies improving?

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W Easterly - Economic Policy, 2007 - Wiley Online Library
The record of the aid agencies over time seems to indicate weak evidence of progress in
response to learning from experience, new knowledge, or changes in political climate. The
few positive results are an increased sensitivity to per capita income of the recipient ( ...
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Inflation's children: tales of crises that beget reforms

M Bruno… - 1996 - nber.org
Are broad reforms the children of high inflation? Do growth recoveries follow? We find that
countries that had external debt crises with high inflation both reformed more and recovered
better than countries that had external debt crises with low inflation. Countries with ...
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[BOOK] Reinventing foreign aid

W Easterly - 2008 - econpapers.repec.org
The urgency of reducing poverty in the developing world has been the subject of a public
campaign by such unlikely policy experts as George Clooney, Alicia Keyes, Elton John,
Angelina Jolie, and Bono. And yet accompanying the call for more foreign aid is an almost ...
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[CITATION] Endogenous growth in developing countries with government-induced distortions

W Easterly - Adjustment Lending Revisited, 1992 - The World Bank Washington, DC
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[PDF] Explaining miracles: growth regressions meet the Gang of Four

[PDF] from nber.org
W Easterly - 1995 - nber.org
Like everyone else, economists find success irresistible. The spectacular success of the East
Asian economies has attracted a huge literature to explain the success and to examine the
prospects for imitation by others. The leading actors in this development drama are the ...
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The big push déjà vu: A review of jeffrey sachs's the end of poverty: Economic possibilities for our time

[PDF] from nyu.edu
Full text - MIT Libraries
W Easterly - Journal of Economic Literature, 2006 - ingentaconnect.com
Abstract: Jeffrey Sachs's new book (The End of Poverty: Economic Possibilities for Our Time,
Penguin Press: New York, 2005) advocates a" Big Push" featuring large increases in aid to
finance a package of complementary investments in order to end world poverty. These ...
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[PDF] The cartel of good intentions

[PDF] from koreamosaic.net
W Easterly - FOREIGN POLICY-WASHINGTON-, 2002 - koreamosaic.net
The world's richest governments have pledged to boost financial aid to the developing
world. So why won't poor nations reap the benefits? Because in the way stands a bloated,
unaccountable foreign aid bureaucracy out of touch with sound economics. The solution: ...
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[CITATION] Shaken and stirred: Volatility and macroeconomic paradigms for rich and poor countries

W Easterly, R Islam… - Michael Bruno Memorial Lecture, XIIth World …, 1999
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[HTML] Latin America's Infrastructure in the era of Macroeconomic Crises

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C Calderón, W Easterly… - Washington, DC: The World …, 2003 - books.google.com
DID THE QUANTITY AND QUALITY OF Latin America's infrastructure suffer from the
prolonged period of macroeconomic stabilization and fiscal austerity in the 1980s and
1990s? To address that question, this chapter provides a comprehensive overview of the ...
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Growth implosions and debt explosions: do growth slowdowns cause public debt crises?

[PDF] from umich.edu
W Easterly - 2001 - papers.ssrn.com
Abstract: The worldwide growth slowdown after 1975 was a major negative fiscal shock;
lower growth lowers the present value of tax revenues and primary surpluses and thus
makes a given level of debt more burdensome. Most countries failed to adjust to the ...
Cited by 57 - Related articles - All 19 versions

Institutions: Top down or bottom up?

[PDF] from 149.132.120.83
Full text - MIT Libraries
W Easterly - The American Economic Review, 2008 - JSTOR
A large research programin economics has established a persuasive link between institu?
tions and economic development. But what does this imply for development policymaking?
Can a political leader or aid agency seeking to pro? mote development readily change ...
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Is Investment in Africa Too High or Too Low? Macro‐and Micro‐evidence

Full text - MIT Libraries
S Devarajan, W Easterly… - Journal of African Economies, 2001 - CSAE
Abstract Many analysts decry the lack of sufficient investment in Africa, implying that
investment in Africa is 'too low'. We find no evidence that private and public capital are
productive in Africa, either in the cross‐country data or in micro‐data from Tanzania. In this ...
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[HTML] Fiscal adjustment and deficit financing during the debt crisis

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WR Easterly - Dealing with the Debt Crisis, 1989 - books.google.com
Page 107. 5 Fiscal Adjustment and Deficit Financing during the Debt Crisis William R. Easterly
The reduced external financing to most high-debt coun- tries in the 1980s forced major
adjustments in macro policy, especially in the management of fiscal deficits. ...
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[BOOK] Policy determinants of growth: survey of theory and evidence

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WR Easterly… - 1989 - books.google.com
Page 1. a> N < o Z3 (/) o o Q o 15 Policy, Planning, and Research WORKING PAPERS
Macroeconomic Adjustment and Growth Country Economics Department The World
Bank December 1989 WPS 343 a> N Policy Determinants ...
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Inequality does cause underdevelopment

W Easterly - 2006 - papers.ssrn.com
Abstract: Consistent with the provocative hypothesis of Engerman and Sokoloff 1997 and
Sokoloff and Engerman 2000, this paper confirms with cross-country data that agricultural
endowments predict inequality and inequality predicts development. The use of ...
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[HTML] Infrastructure compression and public sector solvency in Latin America

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C Calderón, W Easterly… - The limits of stabilization: …, 2003 - books.google.com
PUBLIC INVESTMENT AND INFRASTRUCTURE spending are often singled out for drastic
cuts at times of fiscal retrenchment. Chapter 1 noted that this has been a common feature in
episodes of fiscal adjustment in developing countries, and chapter 2 highlighted its key ...
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Debt relief

[PDF] from columbia.edu
W Easterly - Foreign Policy, 2001 - JSTOR
Debt relief has become the feel-good economic policy of the new millennium, trumpeted by
Irish rock star Bono, Pope John Paul II, and virtually everyone in between. But despite its
overwhelming popularity among policymakers and the public, debt relief is a bad deal for ...
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Was the Wealth of Nations Determined in 1000 bc?

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D Comin, W Easterly… - 2006 - nber.org
The research activities of the NBER are funded by grants from federal research agencies, by
private foundations, and by generous donations from our corporate associates and from
private individuals. The NBER is a non-profit, 501 (c)(3) organization. For information on ...
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Policy distortions, size of government, and growth

[PDF] from worldbank.org
W Easterly - 1989 - nber.org
This paper analyzes the structural relationship between policies that distort resource
allocation and long-ten growth. It first reviews briefly the Solow model in which steady-state
growth depends only on exogenous technological change. Policy distortions do affect the ...
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[PDF] Planners vs. searchers in foreign aid

[PDF] from usd.edu
W Easterly - Asian Development Bank, 2006 - people.usd.edu
Seventeen years after the fall of the Berlin Wall, there is only one major area of the world in
which central planning is still seen as a way to achieve prosperity–countries that receive
foreign aid. Behind the Aid Wall that divides poor countries from rich, the aid community is ...
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Growth implosions, debt explosions, and my Aunt Marilyn: Do growth slowdowns cause public debt crises?

W Easterly - Policy Research Working Paper Series, 2001 - econpapers.repec.org
The worldwide slowdown in growth after 1975 was a major negative fiscal shock. Slower
growth lowers the present value of tax revenues and primary surpluses and thus makes a
given level of debt more burdensome. Most countries failed to adjust to the negative fiscal ...
Cited by 40 - Related articles - Cached - Library Search - All 5 versions

10 Portfolio Effects in Model: Devaluation in Dollarized Economy

W Easterly - … Computable General Equilibrium Models for the …, 1990 - books.google.com
The tradition of computable general equilibrium (CGE) models with only real variables has
limited in important ways the analysis of the current problems of less developed countries'
economies. The CGE framework is unmatched for capturing differential effects on ...
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[CITATION] Fiscal adjustment and macroeconomic performance: a synthesis

W Easterly, K Schmidt-Hebbel - Public Sector …, 1994 - Oxford University Press for the World …
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[BOOK] The Macroeconomics of the Public Sector Deficit

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W Easterly - 1991 - books.google.com
Thailand's pattern of public expenditure finance—relying more on tax revenues and
commercial and private borrowing, and less on central bank loans and money financing—
has contributed to Thailand's macroeconomic stability. This year, the government ...
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The effect of International Monetary Fund and World Bank programs on poverty

[PDF] from worldbank.org
W Easterly - World Bank Policy Research Working Paper No. …, 1999 - papers.ssrn.com
Abstract: There is some evidence that IMF and World Bank adjustment lending smooths
consumption for the poor, reducing the rise in poverty for any given contraction of the
economy but also reducing the fall in poverty for any given expansion. Adjustment lending ...
Cited by 36 - Related articles - Library Search - All 20 versions

NAFTA and Convergence in North America: High Expectations, Big Events, Little Time [with Comments]

Full text - MIT Libraries
W Easterly, N Fiess, D Lederman, NV Loayza… - Economia, 2003 - JSTOR
he North American Free Trade Agreement(NAFTA) was formally implemented on 1 January
1994 by the United States, Canada, and Mexico. This treaty instantly gained global notoriety
following the initiation of formal negotiations in 1991, not only because the initiative ...
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What did structural adjustment adjust?

[PDF] from eldis.org
W Easterly - Institute for International Economics, 2002 - papers.ssrn.com
Abstract: One feature of adjustment loans that has been often overlooked in their evaluation
is their frequent repetition to the same country, with such extremes as the 30 IMF and World
Bank adjustment loans to Argentina over 1980-99 or the 26 adjustment loans to Cote d' ...
Cited by 31 - Related articles - All 26 versions

[PDF] IMF and World Bank structural adjustment programs and poverty

[PDF] from nber.org
W Easterly - 2003 - nber.org
In September 1999, the objectives of the IMF's concessional lending were broadened to
include an explicit focus on poverty reduction in the context of a growth oriented strategy.
The IMF will support, along with the World Bank, strategies elaborated by the borrowing ...
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[PDF] A macroeconomic framework for poverty reduction strategy papers

[PDF] from worldbank.org
S Devarajan, D Go, FM Charlier… - World Bank, …, 2000 - siteresources.worldbank.org
Page 1. A Macroeconomic Framework for Poverty Reduction Strategy Papers with
an application to Zambia by Shantayanan Devarajan and Delfin S. Go with Florence
M. Charlier, Andrew Dabalen, William R. Easterly, Hippolyte ...
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Financing the storm: macroeconomic crisis in Russia1

[PDF] from worldbank.org
W Easterly… - Economics of Transition, 1994 - Wiley Online Library
Russia has been in macroeconomic crisis since the collapse of the communist economic
system at the end of 1991. We examine the macroeconomic crisis in 1992 and 1993,
focusing on fiscal and monetary policies. We will see how the enterprise sector ...
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[BOOK] How Do National Policies Affect Long-Run Growth?

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W Easterly, R King, R Levine… - 1992 - books.google.com
Which policies strongly affect long-run growth? Do policies explain why some poor countries
have stagnated and others have advanced? Do policies explain successive periods of rapid
growth and stagnation in the same country? To what extent do national policies—rather ...
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[PDF] The ideology of development

[PDF] from colorado.edu
W Easterly - Foreign Policy, 2007 - ceaemgmt.colorado.edu
The failed ideologies of the last century have come to an end. But a new one has risen to
take their place. It is the ideology of Development-and it promises a solution to all the world's
ills. But like Communism, Fascism, and the others before it, Developmentalism is a ...
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[PDF] Africa's Growth Tragedy

[PDF] from worldbank.org
W Easterly… - World Bank, Washington, DC, 1995 - www-wds.worldbank.org
Africa's economic history since 1960 fits the classical definition of tragedy: potential
unfulfilled, with disastrous consequences. In the 1960s, a leading development extbook
ranked Africa's growth potential ahead of East Asia's, and the World Bank's chief ...
Cited by 29 - Related articles - View as HTML - All 7 versions

[PDF] Freedom versus collectivism in foreign aid

[PDF] from efnasia.org
W Easterly - Economic Freedom of the World: 2006 Annual Report, 2006 - efnasia.org
Everything will fit together in one great global plan run by “the UN Secretary General,[who]
should ensure that the global compact is put into operation”(p. 269). Like his collectivist
predecessors, Sachs sees the achievement of prosperity as mostly a technical problem:“I ...
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[PDF] Growth in Ethiopia: retrospect and prospect

[PDF] from psu.edu
W Easterly - V Washington DC: Center for Global Development …, 2002 - Citeseer
Abstract Ethiopia has had fairly rapid growth since the current reformist regime took power.
However, part of that growth consisted of recovery from the disasters of the previous
government and the civil war. The permanent component of per capita growth under the ...
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Is Investment in Africa Too Low or Too High? Macro and Micro Evidence

S Devarajan, H Pack… - Research Working papers, 1999 - ingentaconnect.com
Cited by 25 - Related articles - All 4 versions

Development, democracy, and mass killings

[PDF] from cgdev.org
Full text - MIT Libraries
W Easterly, R Gatti… - Journal of Economic Growth, 2006 - Springer
Abstract Using a newly assembled dataset spanning from 1820 to 1998, we study the
relationship between the occurrence and magnitude of episodes of mass killing and the
levels of development and democracy across countries and over time. Mass killings ...
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[PDF] Globalization, poverty, and all that: Factor endowment versus productivity views

[PDF] from nber.org
W Easterly - 2007 - nber.org
That globalization causes poverty is a staple of antiglobalization rhetoric. The Nobel Prize
winner Dario Fo compared the impoverishment of globalization to the events of September
11, 2001:“The great speculators wallow in an economy that every year kills tens of millions ...
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[BOOK] How do national policies affect long-run growth?: a research agenda

W Easterly… - 1992 - en.scientificcommons.org
Abstract The authors suggest that there are important opportunities to empirically evaluate
the theoretically predicted channels from policy to growth. They propose a research agenda
based on the endogenous growth literature, designed to address the questions: How do ...
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