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Cover -- Contents -- I. Introduction -- II. Brief Literature Review -- III. Stylized Facts -- IV. Empirical Analysis -- V. Unbundling Governance -- VI. Non-Linearity -- VII. Concluding Remarks -- Appendix -- References -- FIGURES -- 1. Corruption Perceptions and Governance in SSA and the World -- 2. Governance and Corruption Perceptions and Level of Development -- 3. Governance and Corruption Perceptions and Growth -- 4. Corruption Perceptions and Fiscal Outcomes -- 5. Sample Distribution of Governance and Corruption Perceptions -- 6. SSA Sample Attributes -- 7. Overall Effect of Governance on Growth in SSA -- 8. Overall Effect of Governance on Growth in SSA Controlling for Endogeneity -- 9. Overall Effect of Governance on Growth Across Regions -- 10. Overall Effect of Governance on Growth Across Country Groups -- 11. Overall Effect of Governance on Growth in SSA Controlling for Other Factors -- 12. Overall Effect of Governance on Growth Using 3-Year and 1-Year Averages -- 13. Overall Effect of Governance and Corruption Perceptions on Growth -- TABLES -- 1. Correlation Between Governance and Corruption Perceptions in SSA, 1995-2015 -- 2. Summary of Variables and Data Sources -- 3. Summary Statistics of Main Variables Used in the Regressions -- 4. Governance and Growth in SSA: OLS Regressions -- 5. Governance and Growth in SSA: Baseline System GMM Regressions -- 6. Alternative Measures of Governance: System GMM Regressions -- 7. Governance Channels and Growth: System GMM Regressions -- 8. Corruption Perceptions and Growth in SSA: System GMM Regressions -- 9. Governance and Corruption Perceptions: Non-linear Models

This paper identifies the factors linked to cross-country differentials in growth performance in the aftermath of social conflict for 30 sub-Saharan African countries using panel data techniques. Our results show that changes in the terms of trade are the most important correlate of economic performance in post-conflict environments. This variable is typically associated with an increase in the marginal probability of positive economic performance by about 30 percent. Institutional quality emerges as the second most important factor. Foreign aid is shown to have very limited ability to explain

This paper addresses a number of issues regarding petroleum product pricing in Western Africaemphasizing international spillovers. We use panel unit root rests and long-run modeling based on vector error correction models to assess links and convergence in petroleum product prices across countries. Our results indicate that in general over the long-run there is convergence in prices across the countries. The estimation results for gasoline and diesel prices suggest the presence of long-run links between retail prices among the different country groupings with long-run multipliers ranging from

The volatility in international oil prices has important implications for policies that determine national retail prices of petroleum products. This paper addresses a number of issues regarding petroleum product pricing in Western Africa emphasizing international spillovers that may limit the ability of policymakers to adopt first best policies. We use panel unit root rests and long-run modelling based on vector error correction models to assess links and convergence in petroleum product prices across countries. Our results indicate that in general over the long-run there is convergence in prices across countries. Furthermore, the estimation results for models including gasoline and diesel prices suggest the presence of economically important spillovers with long run multipliers varying significantly according to the country groupings and econometric specifications considered. In contrast, the econometric results for kerosene prices not only indicate a weaker link between prices across countries, but also a much slower adjustment to equilibrium. In light of these important spillovers, the need to better coordinate pricing and tax policies towards petroleum products at the regional level becomes apparent.

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