This paper investigates whether the linkages between economic growth in Russia and growth in other countries in the region have weakened over time, particularly following the 1998 Russian crisis. It specifies an econometric model that includes standard growth determinants as well as Russian...

This paper provides the first comprehensive empirical analysis of agricultural trade using a gravity model. The data set covers bilateral trade in agricultural goods for 152 countries over the periods 1990-93 and 1999-2002. The estimations support claims that protectionism and distortive...

This 2005 Article IV Consultation highlights that economic growth in Morocco has been volatile and insufficient to significantly reduce poverty and unemployment. Growth averaged 3 percent over the last decade. It has been volatile because of the dependency of agriculture on rainfalls. In 2004,...

This Selected Issues paper investigates the economic importance of institutions in Ukraine, and attempts to quantify the potential benefits of market-friendly structural reforms. The paper reviews some of the key findings of the development-accounting literature, which has tried to explain the...

Kuwait’s 2005 Article IV Consultation reports that the economic and financial positions are projected to remain strong mainly on the expectation that world oil prices will decline only gradually. Reflecting sharply higher oil prices and production, economic conditions improved...

Does the choice of exchange rate regime affect the way an economy's adjustment to real shocks? Exploiting the randomness of natural shocks, this paper assesses empirically the often contrasting answers found in the theoretical literature. The evidence supports key themes in this literature, and...

The number of studies attempting to estimate the "equilibrium" real value of China's currency has proliferated in recent years as the country's presence in world markets has grown. These studies have sought to establish whether or not a significant part of China's competitive prowess can be...