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The United States is one of the world’s largest producers and exporters of a range of agricultural commodities, and the largest provider of foreign assistance, so U.S. policies have big effects on global food...
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...
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...
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...
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...
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....
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,...
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...
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,...
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...
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...
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,...
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 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...
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...
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...
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...
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...
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....
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