Latin American sovereign bonds represent a significant share of the emerging debt class (50 per cent by early 2001) and so have considerably shaped the dynamics of this market. Recent financial turmoil, contagion episodes and investors’ renewed concerns with debt default call for a better...

In this paper we aim to answer the following two questions: <I>1) has the Common Monetary Area in Southern Africa (henceforth CMA) ever been an optimal currency area (OCA)? 2) What are the costs and benefits of the CMA for its participating countries?</I> In order to answer these questions, we carry...</i>

L'économie de la République Démocratique du Congo est aujourd'hui bien plus pauvre qu'elle ne l'était à l'indépendance. La désorganisation de l'offre et l'érosion presque continue de la demande l'ont entraînée depuis les années 70 dans une spirale négative, provoquant...

Three novel macroeconomic policy challenges are discussed in this paper: the macroeconomic implications of China’s emergence; the implications of intensifying financial integration; and the interaction of Asia’s foreign exchange regime with monetary policy in the OECD area. First, China may...

Summary of trends on public opinion and international development co-operation in OECD DAC member countries: <I>i)</I> Public support in OECD DAC member countries for helping poor countries has remained consistently high for almost two decades: there is no aid fatigue; <I>ii)</I> Donations from the public to...</i></i>

One of the priorities set out in the <I>Capital Flows Initiative</I> of the NEPAD is to increase private capital flows to Africa, whereby providing African economies with longterm affordable and sustainable resources to finance their development. In this respect, lower debt costs may be of utmost...</i>

Trade-policy reform is an essential feature of China’s economic transition to a market economy. On the one hand, the liberalisation and decentralisation of export activities has boosted exports. On the other hand, the reform of China’s import regime has been progressing much more slowly....

The Doha Declaration stresses the “important role” of “well targeted, sustainably financed technical assistance and capacity-building programmes”. It dedicates a whole section to them, and reiterates the commitment of its membership to help the weakest among them participate effectively...

Land dynamics are context specific and rapidly changing, and conflicts related to them do not systematically escalate into violence. One way of framing the discussion is to consider change in the structures of power governing the management of resources in rural areas as necessary to achieve...

Due to the substantial rise in the share of Emerging Markets (EM) in foreigncurrency debt markets during the nineties, country risk in EM has become an issue of increasing concern for both new bond issues and rescheduled non-performing loans. However, as recent episodes show, financial...