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Cracking the China Conundrum

by Yukon Huang

China's rise is altering global power relations, reshaping economic debates, and commanding tremendous public attention. Despite extensive media and academic scrutiny, the conventional wisdom about China's economy...

Beating the Odds

by Justin Yifu Lin & Celestin Monga

How poor countries can ignite economic growth without waiting for global action or the creation of ideal local conditions

Contrary to conventional wisdom, countries that ignite a process of rapid economic growth...

Superfast Primetime Ultimate Nation: The Relentless Invention of Modern India

by Adam Roberts

Who can foretell India's future? Mr. Joshi is a fortune teller in a slum in south Delhi who uses a soothsaying green parrot to make predictions. When Adam Roberts visited him in 2012, Joshi's parrot declared...


by International Monetary Fund. Euro Dept.

The economic recovery has strengthened since Cyprus exited the Fund-supported program 15 months ago. Broad-based growth and improved external competitiveness have reduced unemployment. The fiscal position is...


by International Monetary Fund. Asia Dept

Steady monetary policy management and fiscal discipline have strengthened macroeconomic stability, allowing the economy to benefit from favorable external demand, high remittances, and low commodity prices....


by International Monetary Fund. Midd Dept.

Macroeconomic vulnerabilities have declined since 2012, but growth remains sluggish and sensitive to volatile agricultural output. External imbalances are contained. The fiscal deficit declined between 2012-15,...


by International Monetary Fund. Asia Dept

Mongolia's longer-term prospects are promising given its large natural resources. In recent years, however, the economy has faced substantial challenges, as external shocks and policy errors have compounded...


by International Monetary Fund. Midd Dept.

Algeria continues to deal with the implications of lower oil prices for an economy that is highly dependent on hydrocarbons. Lower hydrocarbon revenues have led to large current account and fiscal deficits,...


by International Monetary Fund. West Dept.

Colombia: Selected Issues

Financial Frictions and the Great Productivity Slowdown

by Romain A, Mr. Duval & Gee Hee, Mr. Hong

We study the role of financial frictions in explaining the sharp and persistent productivity growth slowdown in advanced economies after the 2008 global financial crisis. Using a rich cross-country, firm-level...

Inclusive Growth Framework

by Alexei P, Mr. Kireyev & Jingyang Chen

The paper suggests an operationally usable framework for the evaluation of growth inclusiveness-the inclusive growth framework (IGF). Based on the data on growth, poverty, and inequality, the framework allows...

Income Inequality and Education Revisited

by David, Mr. Coady & Allan Dizioli

This paper presents new results on the relationship between education expansion and income inequality. While human capital theory suggests that income inequality increases with inequality of education outcomes,...

Trading with China

by JaeBin, Mr. Ahn & Romain A, Mr. Duval

We analyze the impact on productivity in advanced economies of fast-growing trade with China between the mid-1990s and late-2000s, separately identifying the export and import channels. We use country-sector-level...

Labor Market Adjustments to Shocks in Australia

by Adil, Mr. Mohommad

Labor markets in Australia have adjusted smoothly to significant declines in commodity prices with little increase in unemployment. This paper examines several aspects of the adjustment, focusing on (i) evidence...


by International Monetary Fund. Euro Dept.

A 24-month precautionary Stand-By Arrangement (SBA) was approved in September 2013. The SBA, in an amount of SDR 1,751 million (170 percent of quota), was supported by the European Union and the World Bank and...

The Algebraic Galaxy of Simple Macroeconomic Models

by Evan C, Mr. Tanner

Simple macroeconomic frameworks like the IS/LM have survived because they help us conceptualize complex problems while also providing 'back of the envelope' estimates of macroeconomic outcomes. Herein, a bare-bones...


by International Monetary Fund. Department

Bulgaria's financial stability was shaken in 2014 by the collapse of the system's fourth largest bank due to fraud and insider abuse. The failure raised questions about the viability of other banks, which subsequently...


by International Monetary Fund. West Dept.

The arrangement was approved on June 26, 2014 and the fifth review completed on December 14, 2016. Disbursements equivalent to SDR 12.04 million (about US$17.5 million) have been made to Grenada so far under...


by International Monetary Fund. West Dept.

Mexico's very strong policies and policy frameworks have helped it navigate successfully a complex external environment characterized by the heightened risk of protectionism and financial market volatility....


by Shashank Nigam

An airline has over 50 different brand touchpoints at which it can choose to operate exactly as it has in the past or to exceed expectations at each step and become truly exceptional. This book aims to highlight...