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October 17, 2011

Monetary Policy
Can Monetary Policy Mitigate The Effects of Oil Shocks? A Follow-Up

I wrote a week ago about an old paper by Bernanke, Gertler, and Watson (BGW) that attributed much of the impact of past oil price shocks to the response of monetary policy. Jim Hamilton followed up t…

February 1, 2019

South Africa
Zondo Commission Witness Details State Capture in South Africa

In January 2018, Ramaphosa appointed a Judicial Commission of Inquiry into “state capture,” the label commonly used in South Africa for government corruption. The testimony to the Zondo Commission of Angelo Agrizzi details the extravagant bribes paid by companies to the highest level of the governing African National Congress (ANC), mostly in return for highly lucrative contracts.

South-Africa-Agrizzi-Zondo-Commission-Corruption

November 21, 2019

Nigeria
Abacha, Abiola, and Nigeria’s 1999 Transition to Civilian Rule

The 1999 transition of Nigeria from military to civilian, democratic government, is a defining moment in Nigerian history, representing the beginning of the longest, uninterrupted government since independence in 1960. But what exactly transpired during the period of transition, which began in earnest with the death of military dictator Sani Abacha in1998, is not entirely clear. Max Siollun, in a fascinating study of the period, Nigeria’s Soldiers of Fortune, has done us a service by illuminating some of the behind-the-scenes machinations of that period, and putting to bed some of the rumors that passed for history.

A supporter of Chief Mashood Abiola holds up a newpaper during a demonstration outside the family home July 10 to protest about the suspicious nature of his death.

March 25, 2021

Kenya
Belt and Road in Kenya: COVID-19 Sparks a Reckoning with Debt and Dissatisfaction

The economic impact of COVID-19 has exposed the underlying fragility of China’s Belt and Road Initiative (BRI) in Kenya, already the subject of scrutiny over corruption, pollution, and debt concerns. BRI fueled an ambitious infrastructure push in Kenya.

A train, built as part of Chinese investment in Kenya through the Belt and Road Initiative, arrives at the Mombasa Terminus in Mombasa, Kenya.