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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.

Achieving Shared Growth --- Adverse effects --- Capital flight --- Comparative analysis --- Conflict and Development --- Debt Markets --- Disequilibrium --- Dividends --- Economic growth --- Economic outcomes --- Economic outlook --- Economic performance --- Economic Theory & Research --- Emerging Markets --- Expectation gap --- Expected returns --- Exports --- Finance and Financial Sector Development --- GDP --- GDP per capita --- Growth models --- Living standards --- Macroeconomics and Economic Growth --- Per capita income --- Positive externalities --- Post Conflict Reconstruction --- Poverty Reduction --- Private Sector Development --- Productivity --- Real income

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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.

Achieving Shared Growth --- Adverse effects --- Capital flight --- Comparative analysis --- Conflict and Development --- Debt Markets --- Disequilibrium --- Dividends --- Economic growth --- Economic outcomes --- Economic outlook --- Economic performance --- Economic Theory & Research --- Emerging Markets --- Expectation gap --- Expected returns --- Exports --- Finance and Financial Sector Development --- GDP --- GDP per capita --- Growth models --- Living standards --- Macroeconomics and Economic Growth --- Per capita income --- Positive externalities --- Post Conflict Reconstruction --- Poverty Reduction --- Private Sector Development --- Productivity --- Real income

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This open access book examines how childhood social disadvantage influences young-adult demographic decision-making and later-life economic and well-being outcomes. This book in particular focuses on testing whether the consequences of childhood social disadvantage for adult outcomes differ across societies, and whether these differences are shaped by the “context of opportunities” that societies offer to diminish the adverse impact of economic and social deprivation. The book integrates a longitudinal approach and provides new insights in how the experience of childhood disadvantage (e.g. low parental socio-economic status, family disruption) influences demographic decisions in adulthood (e.g. the timing of family-events such as cohabitation, marriage or parenthood; the risk of divorce or having a child outside a partner relationship; the exposure to later-life loneliness, poor health, and economic adversity). Moreover, using a cross-national comparative perspective it investigates whether the relationships of interest differ across nations, and tests the “context of opportunities” hypothesis arguing that the links between childhood disadvantage and adult outcomes are weakened in societal contexts offering good opportunities for people to escape situations of deprivation. To do so, the book analyzes national contexts based on economic prosperity, family values and norms, and welfare-state arrangements.

Population & demography --- Political economy --- Sociology --- Social issues & processes --- Sociology: family & relationships --- Demography --- Population Economics --- Life course --- Social Structure, Social Inequality --- Sociology of Family, Youth and Aging --- Population and Demography --- Social Structure --- Family formation --- Social inequallity --- Cross-national comparison --- Second Demographic Transition --- Family background --- Childhood social disadvantage --- Economic and social deprivation --- Young adulthood --- Later-life socio-economic outcomes --- Later-life well-being --- Socio-economic indicators --- Demographic lifecourse --- Social background --- Family disruption --- Cohabitation --- Later-life loneliness --- Poor health --- Economic adversity --- Family values and norms --- Open access --- Social & ethical issues

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Energy systems are transiting from conventional energy systems to modernized and smart energy systems. This Special Issue covers new advances in the emerging technologies for modern energy systems from both technical and management perspectives. In modern energy systems, an integrated and systematic view of different energy systems, from local energy systems and islands to national and multi-national energy hubs, is important. From the customer perspective, a modern energy system is required to have more intelligent appliances and smart customer services. In addition, customers require the provision of more useful information and control options. Another challenge for the energy systems of the future is the increased penetration of renewable energy sources. Hence, new operation and planning tools are required for hosting renewable energy sources as much as possible.

Technology: general issues --- hybrid systems --- photovoltaic --- wind energy --- energy economics --- RES investments --- Zimbabwe --- Africa and energy security --- electricity price forecasting (EPF) --- wind power forecasting (WPF) --- spot market --- balancing market --- ARMAX --- NARX-ANN --- 100% renewable power system --- secondary voltage control --- tertiary voltage control --- grid code --- wind farms --- photovoltaic parks --- energy transition --- renewable energy sources --- island power systems --- hybrid power plants --- wind turbines --- battery energy storage systems --- marine microgrid --- tidal generation system --- black widow optimization --- supplementary control --- fractional integrator --- non-linear fractional integrator --- 100% renewable power generation --- nexus --- food --- energy --- water --- greenhouse gas emission --- microgrid --- ancillary services --- energy storage --- power management --- solar hot waters --- thermosyphon --- thermal performance --- Morocco --- economic outcomes --- CO2 environmental assessment --- solar system --- domestic hot water production --- solar water heaters --- individual and collective solar water heater systems --- dynamic simulation --- TRNbuild --- TRNSYSstudio --- energy management --- residential and commercial loads --- short-term load forecasting --- deep learning --- bidirectional long short-term memory (Bi-LSTM) --- n/a

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How a vast network of shadow credit financed European growth long before the advent of bankingPrevailing wisdom dictates that, without banks, countries would be mired in poverty. Yet somehow much of Europe managed to grow rich long before the diffusion of banks. Dark Matter Credit draws on centuries of cleverly collected loan data from France to reveal how credit abounded well before banks opened their doors. This incisive book shows how a vast system of shadow credit enabled nearly a third of French families to borrow in 1740, and by 1840 funded as much mortgage debt as the American banking system of the 1950s.Dark Matter Credit traces how this extensive private network outcompeted banks and thrived prior to World War I-not just in France but in Britain, Germany, and the United States-until killed off by government intervention after 1918. Overturning common assumptions about banks and economic growth, the book paints a revealing picture of an until-now hidden market of thousands of peer-to-peer loans made possible by a network of brokers who matched lenders with borrowers and certified the borrowers' creditworthiness.A major work of scholarship, Dark Matter Credit challenges widespread misperceptions about French economic history, such as the notion that banks proliferated slowly, and the idea that financial innovation was hobbled by French law. By documenting how intermediaries in the shadow credit market devised effective financial instruments, this compelling book provides new insights into how countries can develop and thrive today.

Banks and banking --- France. --- Europa --- Frankreich --- 1740 market. --- 1780s. --- 1880s. --- French Revolution. --- French economic history. --- GDP. --- Old Regime. --- Paris. --- agriculture. --- ancient causes. --- banks. --- borrowers. --- commerce. --- commercial credit. --- commercial loans. --- consumer credit. --- credit market. --- credit markets. --- credit rationing. --- credit system. --- credit. --- debt. --- developing economies. --- developing economy. --- economic growth. --- economic outcomes. --- economics literature. --- economy. --- farmers. --- historical inheritance. --- inflation. --- institutional reforms. --- joint stock firm. --- lending. --- limited partnership. --- loan contracts. --- loans. --- long-run change. --- matching markets. --- modern outcomes. --- mortgage market. --- nineteenth century. --- notarial credit. --- notarial debt. --- notaries. --- notarized letter of exchange. --- obligations. --- partnership. --- peer-to-peer credit. --- peer-to-peer loans. --- price competition. --- price ranges. --- private credit. --- private lending. --- private network. --- shadow credit. --- short-term loans. --- single-price equilibrium. --- social scientists. --- sole proprietorship. --- southern France. --- tradable shares. --- urban real estate.