Previous literature suggests that leaders matter for growth in general. This paper asks which leaders matter and develops a methodology to estimate the growth contribution of individual leaders and calculate...
The World Development Report (WDR) has become such a fixture that it is easy to forget the circumstances under which it was born and the Bank's motivation for producing such a report at that time. In the...
The authors systematically document remarkably high degrees of concentration in manufacturing exports for a sample of 151 countries over a range of 3,000 products. For every country manufacturing exports...
The World Development Report (WDR) has become such a fixture that it is easy to forget the circumstances under which it was born and the Bank's motivation for producing such a report at that time. In the...
When growth-promoting spending is cut so much that the present value of future government revenues falls by more than the immediate improvement in the cash deficit, fiscal adjustment becomes like walking...
Fiscal adjustment becomes like walking up the down escalator when growth-promoting spending is cut so much as to lower growth and thus the present value of future tax revenues to a degree that more than...
The Social Sector Technical Assistance Credit for Bosnia and Herzegovina had the following ratings: the outcome was unsatisfactory, the sustainability was likely, the institutional development impact was...
This report discusses China's fiscal risk, and introduces related international experience and theoretical progress. It includes three main sections: contingent liabilities in a macroeconomic perspective...
This book is organized as follows: Introduction; by William Easterly and Luis Serven Latin America's Infrastructure in The Era of Macroeconomic Crises; by Cesar Calderon, William Easterly, and Luis Serven...
This book is organized as follows: Introduction; by William Easterly and Luis Serven Latin America's Infrastructure in The Era of Macroeconomic Crises; by Cesar Calderon, William Easterly, and Luis Serven...
These are the proceedings of the Annual World Bank Conference on Development Economics, which gathers the global perspective of scholars, and practitioners of development policy from academic life, government...
The article documents five stylized facts of economic growth: (1) the 'residual' (total factor productivity, tfp) rather than factor accumulation accounts for most of the income and growth differences...
The worldwide slowdown in growth after 1975 was a major negative fiscal shock. Slower growth lowers the present value of tax revenues and primary surpluses and thus makes a given level of debt more burdensome...
Structural adjustment - as measured by the number of adjustment loans from the IMF, and the World Bank - reduces the growth elasticity of poverty reduction. The author finds no evidence for structural...
This volume questions what have we learned from a decade of empirical research on growth. The response, that " It ' s not factor accumulation: stylized facts and growth models " by William Esasterly and...
High-quality institutions -- reflected in such factors as rule of law, bureaucratic quality, freedom from government expropriation, and freedom from government repudiation of contracts -- mitigate the...
World Bank's new approach helps business in transition economies; by Lars Jeurling. Are foreign investors and multinationals engaging in corrupt practices in transition economies? by Joel Hellman, Geraint...
Modern political economy stresses "society's polarization" as a determinant of development outcomes. Among the most common dorms of social conflict are class polarization, and ethnic polarization. A middle...
This paper sets forth a framework for thinking about growth volatility which is general enough to incorporate the important structural, institutional, and policy variations among countries which might...
How did highly indebted poor countries become highly indebted after two decades of debt relief efforts? A set of theoretical models predict that countries with unchanged long-run savings preferences will...