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Liberalism and the Welfare State

by Roger E. Backhouse, Bradley W. Bateman, Tamotsu Nishizawa & Dieter Plehwe

The welfare state has, over the past forty years, come under increasing attack from liberals who consider comprehensive welfare provision inimical to liberalism. Yet, many of the architects of the post-World...

Digital DNA

by Peter F. Cowhey & Jonathan D. Aronson

Innovation in information and production technologies is creating benefits and disruption, profoundly altering how firms and markets perform. Digital DNA provides an in depth examination of the opportunities...

Global Agriculture and the American Farmer

by Kimberly Ann Elliott

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...

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...


by International Monetary Fund. Asia Dept

Vietnam: Selected Issues


by International Monetary Fund. Fisc Dept.

Botswana's public investment has been consistently high for the past 25 years coupled with prudent fiscal policy and moderate debt at around 10 percent of GDP. Prudent management of public finances has allowed...

South Africa

by International Monetary Fund. Afri Dept.

Living conditions have ameliorated substantially for the bulk of South Africa's population since the advent of democracy, but the pace of improvement has gradually slowed. Economic growth is currently insufficient...


by International Monetary Fund. Afri Dept.

Cameroon's reform strategy is embedded in the coordinated regional approach outlined at the Yaoundé Heads of States summit in December 2016, during which the Cameroonian authorities spearheaded a coordinated...


by International Monetary Fund. Asia Dept

Vietnam's dynamic economy continues on a solid growth path, driven by robust domestic demand and export-oriented manufacturing. The new government is pushing ahead with reforms along a broad front, keenly aware...

St. Kitts and Nevis

by International Monetary Fund. West Dept.

St. Kitts and Nevis attained the strongest growth and fiscal performance in the ECCU region in recent years, with public debt set to meet the ECCU's 60 percent of GDP target in 2018. The strong macroeconomic...

United Republic of Tanzania

by International Monetary Fund. Afri Dept.

Tanzania's macroeconomic performance has been strong, albeit with a recent deceleration in economic growth. GDP grew by 7 percent in 2016. High frequency data, however, suggest a weakening of economic activity...


by International Monetary Fund. Afri Dept.

The authorities, with substantial donor support, successfully addressed Malawi's worst humanitarian crisis after two consecutive years of drought. Floods and drought negatively impacted 2.8 million people during...


by International Monetary Fund. Euro Dept.

Norway: Selected Issues


by International Monetary Fund. Euro Dept.

The sharp oil price slump in 2014-15 has hurt Norway's oil and gas sector, with spillover effects on supporting industries across the supply chain. Mainland growth fell to its lowest level since the 2008/09...

The Gambia

by International Monetary Fund. Afri Dept.

The Gambia is at a historical turning point, with the transition to a democratically elected government committed to the rule of law, freedom of speech and socio-economic development ending the 22-year reign...

Tipping the Scale? The Workings of Monetary Policy through Trade

by Gustavo Adler & Carolina Osorio Buitron

Monetary policy entails demand augmenting and demand diverting effects, with its impact on the trade balance-and spillovers to other countries-depending on the relative magnitude of these opposing effects. Using...

Migration and Remittances in Latin America and the Caribbean

by Kimberly, Ms. Beaton & Svetlana, Ms. Cerovic

Outward migration has been an important phenomenon for countries in Latin American and the Caribbean (LAC), particularly those in Central America and the Caribbean. This paper examines recent trends in outward...

Does the Stock Market Boost Firm Innovation?

by Hui He & Hanya Li

The paper analyses the effect of the stock market on firm innovation through the lens of initial public offering (IPO) using uniquely matched Chinese firm-level data. We find that IPOs lead to an increase in...

Cross-Country Spillovers of Fiscal Consolidations in the Euro Area

by Tigran, Mr. Poghosyan

This paper revisits the issue of cross-country spillovers from fiscal consolidations using an innovative empirical methodology. We find evidence in support of fiscal spillovers in 10 euro area countries. Fiscal...

Towards Macroprudential Stress Testing

by Ivo, Mr. Krznar & Troy D, Mr. Matheson

Macro-feedback effects have been identified as a key missing element for more effective macro-prudential stress testing. To fill this gap, this paper develops a framework that facilitates the analysis of both...