Over the past few decades, fiscal policy has been about 30 percent more procyclical and about 40 percent more volatile in commodity-exporting emerging markets and developing economies (EMDEs) than in other EMDEs. Both procyclicality and volatility of fiscal policy-which share some underlying...

Many emerging markets and developing economies face elevated debt vulnerabilities and financing needs. Following the 2020-21 surge in debt levels associated with the COVID-19 shock, and the subsequent tightening in global financial conditions, many emerging markets and developing economies...

Personality traits, preferences, and attitudes significantly influence labor market outcomes, and these non-cognitive skills are shaped by the social environment. While curriculum interventions can impact these skills, the effect of compulsory education on noncognitive skills is less well...