Private Investment

China has long been the factory of the world. But as wages there rise, manufacturers are looking to other countries and regions. Meanwhile, African countries have a huge and burgeoning population of young people looking for jobs. So now many wonder—could Africa be the next big destination for ...

There are arguments for and against “spending through the tax system.” On one hand tax incentives are relatively easy to implement; they don’t require an outlay of cash and they make use of information that revenue agencies already collect. But on the other, loading the tax system ...

A new paper coauthored by Alan Gelb, Christian Meyer, Divyanshi Wadhwa, and myself suggests that Africa is not, in general, poised to embark on a manufacturing-led take-off, stepping into the shoes of emerging Asia. Africa, including those countries that have come to be regarded as leaders in develo...