Aid, structural change and the private sector in Africa

This paper argues that foreign aid is partly responsible for the lack of structural change in Africa. Africa’s development partners have devoted too few resources and too little attention to two critical constraints to private investment, infrastructure and skills, focusing instead on easily understood, but potentially low impact regulatory reforms. The author argues that a… Read more

Returns to Investment in Education: A Further Update

Returns to investment in education based on human capital theory have been estimated since the late 1950s. In the 40-plus year history of estimates of returns to investment in education, there have been several reviews of the empirical results in attempts to establish patterns. Many more estimates from a wide variety of countries, including over… Read more