Africa

This paper examines whether accounting for structural changes in the conditional variance process, through the use of Markov-switching models, improves estimates and forecasts of stock return volatility over those of the more conventional single-state (G)ARCH models, within and across selected...

Recent studies have highlighted the importance of Africa's history of slave exporting to its current economic development. In this paper I show that differences in investment in education may be one of the channels through which that history has affected current development. I combine data on...

The lack of accurate measures of human capital formation often constrain investigations into the long-run determinants of growth and comparative economic development, especially in regions such as Africa. Using the reported age of criminals in the Courts of Justice records in the Cape Archive, this...