The potential problem of reverse causality has been obvious to everyone. It has usually been met with the standard econometric dodge: using lagged values of slow-moving variables as instruments. But this cannot be a serious solution to the problem. The causality issue points to a deeper...

The transition towards a carbon-neutral economy is a fundamental change, it involves not only transforming the energy sector but also radical reforms across the whole economy. Managing fundamental and wholesale change across such a large economy is a massive coordination challenge requiring the...

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, and the private sector. The selected topics seek to include new areas of concern, and...

The Annual World Bank Conference on Development Economics is a forum for discussion, and debate of important policy issues facing developing countries. This report for 2001-2002 focuses on two main themes, based on papers presented, and discussions that followed: 1) globalization and inequality,...

This book is about a collection of speeches -all delivered since Nicholas Stern became Chief Economist of the World Bank in July 2000- they reflect insights that Mr. Stern has gained over more than three decades of study and work in development economics. Together they provide an analysis of...

This paper assembles data at the all-India level and for the village of Palanpur, Uttar Pradesh, to document the growing importance, and influence, of the non-farm sector in the rural economy between the early 1980s and late 2000s. The suggestion from the combined National Sample Survey and...

There is growing awareness that actions by policymakers and international organizations to reduce poverty, and those to mitigate and adapt to climate change, are inextricably linked and interwoven. This paper examines relevant academic and policy literature and evidence on this relationship and...

Concerns about fairness among countries remain significant obstacles to a stronger global climate treaty. This paper addresses the distributional implications of two mechanisms to strengthen the Paris Agreement: the incorporation of national carbon pricing, and the tightening of nationally...

This publication includes readings related to the U.N. International Conference on Financing for Development, held in Monterrey, Mexico, in March 2002:(a) "A Partnership for Development and Peace," a keynote speech given by World Bank president James D. Wolfensohn, two weeks before the Monterrey...