"This paper looks at Bulgaria's industrial restructuring through the lenses of its evolving specialization in international division of labor and integration into international markets with a special emphasis on EU markets. Its major findings can be summarized as follows: (1) Developments in...

"Paci, Sasin, and Verbeek attempt to analyze the linkages between macroeconomic policies and economic growth variables, their movement over time, and their impact on poverty in the case of Poland. Poland, a middle-income country, is of particular interest because its data sources allow for a...

Tajikistan is one of the world's most remittance-dependent economies, receiving net remittance inflows equivalent to approximately 40 percent of Gross Domestic Product (GDP). Falling remittance inflows was one of the main transmission channels through which the 2008-09 global economic crisis...

Poland's economic development story is one of success: since the early 1990s, the country has transitioned to a market economy, integrated into the European Union economy and global supply chains and sustained robust growth, avoiding the middle-income trap and increasing the resilience of its...

This report brings together three budget notes that assess Kenya's fiscal capacity to respond to global crisis and deliver shared growth without compromising macroeconomic stability. The report is organized into three notes. The key messages from this analysis point to areas where Kenya's fiscal...

While Albania 's performance has been impressive, there are concerns about the sustainability of high rates of economic growth in the future. The evidence from the growth accounting exercise indicates that total factor productivity growth from post-transition reallocation is gradually coming to...

"The benefits of financial development and globalization have come with continuing fragility in financial sectors. Periodic crises have had real but heterogeneous welfare impacts and not just for poor people; indeed, some of the conditions that foster deep and persistent poverty, such as lack of...