The purpose of this paper is to identify the factors which determine the strength of commitment that policymakers choose to back up a fixed exchange rate system. In practice the commitment level is achieved by choosing a particular set of monetary and exchange rate arrangements. The authors...

The author uses a simple general equilibrium model to derive a forward-looking linear solution for the premium on the black market for foreign exchange in Sudan. His solution accounts for the long-run fundamentals of the premium that operate through the current account balance. It also accounts...

The significant operational implications underlying the Bank's estimates of per capita GNP, represent important considerations in systematizing the use of official rates in determining the exchange rate to be used in the Atlas methodology. This paper discusses issues and procedures to develop a...

Regulatory Assessment Toolkit: A Practical Methodology for Assessing Regulation on Services Trade and Investment provides guidance on how to assess and reform the regulatory policies of service trade industries. The toolkit can help government officials evaluate whether their regulatory...

This volume includes papers that were first presented and discussed at a workshop on 'The Fragmentation of Global Production and Trade in Value- Added: Developing New Measures of Cross Border Trade', held at the World Bank in Washington, DC, on 9 to 10 June, 2011. This publication is structured...

The great recession of 2008-9 caused a negative shock to the global economy that is comparable with the great depression of the 1930s. The major advanced nations experienced painful economic contraction, severe dislocation to industrial production and sharp spikes in unemployment. Trade flows...