What are the reasons for and the costs of Latin America's volatility? Because there is no consensus on these fundamental questions, there is no consensus on the appropriate policy response to macroeconomic volatility in Latin America, and other shock-prone countries. This paper provides new...

This publication presents the current situation with regard to the magnitude and economic impact of migrants remittances to their countries of origin. In 2004, remittances exceeded official development aid in several emigration countries: they totalled USD 126 billion according to IMF estimates....

OECD countries believe that foreign direct investment (FDI) will play a critical role in the rise of standards of living among nations well into the 21st century. A crucial aspect will be whether FDI’s contribution to economic development will respond in a balanced and sustainable way to the...