Conflicts and Returns to Stability in Developing Countries : A Comparative Analysis

Fofack, Hippolyte

dc.creator	Fofack, Hippolyte
dc.date	2012-03-19T18:42:01Z
dc.date	2012-03-19T18:42:01Z
dc.date	2010-09-01
dc.date.accessioned	2023-02-17T21:05:48Z
dc.date.available	2023-02-17T21:05:48Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100920133742
dc.identifier	http://hdl.handle.net/10986/3911
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/244881
dc.description	Sub-Saharan Africa's dismal development outcomes -- growth collapse and declining real income -- are often used to highlight its sharp development contrast with other regions of the developing world. Drawing on a large cross-section analysis, this paper shows that Africa's underlying dismal records can also be largely accounted for by the skewed distribution of growth in the post-independence era. In particular, structurally low investment rates in a context of high political risk and uncertainty undermined growth prospects in the region. However, counterfactual simulations based on a variation of neoclassical growth models and under the hypothetical equalization of political risk profile alternative result in large economic returns, reflected in the significantly higher level of aggregate output and income in the subset of conflict-affected countries. Income gets even higher when the hypothetical reduction of political risks alternative is accompanied by sustained increases in capital accumulation.
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 5428
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ABSOLUTE POVERTY
dc.subject	ACCOUNTING
dc.subject	ADVANCED ECONOMIES
dc.subject	ADVERSE EFFECTS
dc.subject	AGGREGATE OUTPUT
dc.subject	AGRICULTURAL SECTOR
dc.subject	AGRICULTURE
dc.subject	BALANCE OF PAYMENTS
dc.subject	BALANCE OF PAYMENTS CRISES
dc.subject	BANK POLICY
dc.subject	BENCHMARK
dc.subject	BENCHMARKS
dc.subject	CAPITAL ACCUMULATION
dc.subject	CAPITAL FLIGHT
dc.subject	CAPITAL FLOWS
dc.subject	CAPITAL FORMATION
dc.subject	CAPITAL STOCK
dc.subject	CIVIL WAR
dc.subject	CIVIL WARS
dc.subject	COMMODITIES
dc.subject	COMMODITY
dc.subject	COMMODITY EXPORTS
dc.subject	COMPARATIVE ADVANTAGE
dc.subject	COMPARATIVE ANALYSIS
dc.subject	CONFLICT
dc.subject	CONFLICT PREVENTION
dc.subject	CONFLICTS
dc.subject	CONSTRAINT
dc.subject	COUNTERPARTS
dc.subject	COUNTRY DUMMIES
dc.subject	COUNTRY RISK
dc.subject	CRISES
dc.subject	CROSS-BORDER CAPITAL
dc.subject	CURRENT ACCOUNT SURPLUSES
dc.subject	DEATHS
dc.subject	DEBT
dc.subject	DEBT STOCKS
dc.subject	DEPENDENT VARIABLE
dc.subject	DERIVATIVES
dc.subject	DEVELOPING COUNTRIES
dc.subject	DEVELOPING WORLD
dc.subject	DEVELOPMENT BANK
dc.subject	DEVELOPMENT CENTRE
dc.subject	DEVELOPMENT ECONOMICS
dc.subject	DEVELOPMENT GOALS
dc.subject	DEVELOPMENT INDICATORS
dc.subject	DEVELOPMENT PATH
dc.subject	DEVELOPMENT PATHS
dc.subject	DISEQUILIBRIUM
dc.subject	DISTRIBUTION OF INCOME
dc.subject	DIVERSIFICATION
dc.subject	DIVIDEND
dc.subject	DIVIDENDS
dc.subject	DOMESTIC SAVINGS
dc.subject	DRUGS
dc.subject	ECONOMIC COOPERATION
dc.subject	ECONOMIC DEVELOPMENT
dc.subject	ECONOMIC EFFICIENCY
dc.subject	ECONOMIC GROWTH
dc.subject	ECONOMIC LITERATURE
dc.subject	ECONOMIC OUTCOMES
dc.subject	ECONOMIC OUTLOOK
dc.subject	ECONOMIC PERFORMANCE
dc.subject	ECONOMIC POLICY
dc.subject	ECONOMIC RESEARCH
dc.subject	ECONOMIC THEORY
dc.subject	ECONOMICS RESEARCH
dc.subject	ELASTICITY
dc.subject	EMERGING MARKET
dc.subject	EMERGING MARKET ECONOMIES
dc.subject	EMERGING MARKETS
dc.subject	EMPIRICAL MODEL
dc.subject	EMPIRICAL MODELS
dc.subject	EMPIRICAL RESULTS
dc.subject	EMPIRICAL STUDIES
dc.subject	ESTIMATED COEFFICIENT
dc.subject	ESTIMATED COEFFICIENTS
dc.subject	EXOGENOUS RATE
dc.subject	EXPECTATION GAP
dc.subject	EXPECTED RETURNS
dc.subject	EXPENDITURE
dc.subject	EXPORTS
dc.subject	EXPOSURE
dc.subject	EXPOSURES
dc.subject	EXTERNAL DEBT
dc.subject	EXTERNAL SHOCKS
dc.subject	FINANCIAL CRISIS
dc.subject	FISCAL DEFICITS
dc.subject	FOREIGN ASSET
dc.subject	FOREIGN ASSET POSITIONS
dc.subject	FRONTIERS
dc.subject	GDP
dc.subject	GDP PER CAPITA
dc.subject	GLOBAL ECONOMIC LANDSCAPE
dc.subject	GLOBAL ECONOMY
dc.subject	GLOBAL LEVEL
dc.subject	GLOBAL TRADE
dc.subject	GLOBALIZATION
dc.subject	GOVERNMENT SUPPORT
dc.subject	GROSS DOMESTIC PRODUCT
dc.subject	GROWTH MODEL
dc.subject	GROWTH MODELS
dc.subject	GROWTH PERFORMANCE
dc.subject	GROWTH PROCESS
dc.subject	GROWTH PROSPECTS
dc.subject	GROWTH RATE
dc.subject	GROWTH RATES
dc.subject	GROWTH THEORY
dc.subject	HIGH GROWTH
dc.subject	HUMAN DEVELOPMENT
dc.subject	HUMAN DEVELOPMENT REPORT
dc.subject	HUMAN SECURITY
dc.subject	IMF
dc.subject	INCOME GROWTH
dc.subject	INDEPENDENCES
dc.subject	INFRASTRUCTURE DEVELOPMENT
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL DEVELOPMENT
dc.subject	INVESTMENT FUNCTION
dc.subject	INVESTMENT RATES
dc.subject	LABOR FORCE
dc.subject	LIFE EXPECTANCY
dc.subject	LIVING STANDARDS
dc.subject	LONG-RUN GROWTH
dc.subject	LOW-INCOME COUNTRIES
dc.subject	MACROECONOMIC INSTABILITY
dc.subject	MACROECONOMIC STABILITY
dc.subject	MARGINAL PRODUCTIVITY
dc.subject	MASSIVE INVESTMENTS
dc.subject	MEETING
dc.subject	MISMANAGEMENT
dc.subject	MONETARY FUND
dc.subject	NATIONS
dc.subject	NATURAL RESOURCE
dc.subject	NATURAL RESOURCES
dc.subject	NEGATIVE EFFECT
dc.subject	OIL CRISIS
dc.subject	OUTPUT GROWTH
dc.subject	PEACE
dc.subject	PER CAPITA INCOME
dc.subject	POLICY RESEARCH
dc.subject	POLITICAL ECONOMY
dc.subject	POLITICAL INSTABILITY
dc.subject	POLITICAL RISK
dc.subject	POLITICAL RISKS
dc.subject	POLITICAL STABILITY
dc.subject	POLITICAL VIOLENCE
dc.subject	POOR GOVERNANCE
dc.subject	POSITIVE EXTERNALITIES
dc.subject	POVERTY RATES
dc.subject	POVERTY REDUCTION
dc.subject	POVERTY TRAPS
dc.subject	PRIMARY PRODUCTS
dc.subject	PRIVATE CAPITAL
dc.subject	PRIVATE INVESTMENT
dc.subject	PRIVATE INVESTMENTS
dc.subject	PRODUCTION FUNCTION
dc.subject	PRODUCTION STRUCTURES
dc.subject	PRODUCTIVITY
dc.subject	PRODUCTIVITY GROWTH
dc.subject	PROTECTIONISM
dc.subject	PUBLIC INVESTMENTS
dc.subject	PUBLIC POLICY
dc.subject	RATE OF INVESTMENTS
dc.subject	REAL INCOME
dc.subject	RECONSTRUCTION
dc.subject	RESERVE
dc.subject	RESERVES
dc.subject	REVOLUTION
dc.subject	RICH COUNTRIES
dc.subject	RISK PROFILE
dc.subject	SIGNIFICANT REDUCTION
dc.subject	SKEWED DISTRIBUTION
dc.subject	STATE INTERVENTION
dc.subject	TECHNOLOGICAL CHANGE
dc.subject	TERMS OF TRADE
dc.subject	THIRD WORLD
dc.subject	TOTAL FACTOR PRODUCTIVITY
dc.subject	TOTAL FACTOR PRODUCTIVITY GROWTH
dc.subject	TRADE SHOCKS
dc.subject	UNDP
dc.subject	VICTIMS
dc.subject	VIRTUOUS CYCLE
dc.subject	VIRTUOUS CYCLES
dc.subject	VOLATILITY
dc.subject	WAR
dc.subject	WARS
dc.subject	WORLD DEVELOPMENT
dc.subject	WORLD ECONOMY
dc.subject	WORLD TRADE
dc.title	Conflicts and Returns to Stability in Developing Countries : A Comparative Analysis
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	Africa
dc.coverage	Africa
dc.coverage	Africa