The 2009 global recession demonstrated, once again, the importance of crisis prevention as well as the critical need for preserving policy room so that emerging market and developing economies (EMDEs) can act when their economies are hit by shocks. And now, with the global growth outlook still...

Although emerging market and developing economies (EMDEs) weathered the global recession a decade ago relatively well, they now appear less well placed to cope with the substantial downside risks facing the global economy. In many EMDEs, the room for monetary and fiscal policies to respond to...

This paper reviews the evidence on the importance of human capital for macro-economic development. Through the lens of a simple aggregate production function, human capital might increase output per capita by directly entering in the production process, incentivising the accumulation of...

This survey reviews the current state of the economic literature, assessing the impact of transport policies on growth, inclusion, and sustainability in a developing country context. The findings are summarized and methodologies are critically assessed, especially those dealing with endogeneity...

This paper assesses the impact of the rise of China on the trade of Latin American and Caribbean economies. The study proposes an index to measure the impact on trade, which suggests sizable effects, especially in Argentina, Brazil, Chile, Honduras, Mexico, and Paraguay. The paper uses the index...

There are currently 31 countries classified as low income, less than half the number in 2001. Rapid growth in low-income countries from 2001 to 2018 allowed many to progress to middle-income status, supported by the commodity price boom of 2001-11, debt relief under the Heavily Indebted Poor...

This paper studies future poverty, inequality, and shared prosperity outcomes using a panel data set with 150 countries over 1980-2014. The findings suggest that global extreme poverty will decrease in absolute and relative terms in the period 2015-2030. However, absolute poverty is likely to...

This paper explores the economic impacts of two related tracks of China's expected transformation?economic slowdown and rebalancing away from investment toward consumption?and estimates the spillovers for the rest of the world, with a special focus on Sub-Saharan African countries. The paper...

The hub-periphery development pattern of the Guangdong economy, to some extent, is a miniature of that of the Chinese economy. The Pearl River Delta, drawing from its first-nature comparative advantages in factor endowments and proximity to Hong Kong SAR, China, and Macau SAR, China, and the...

This paper examines whether domestic output growth helps attract capital inflows and, in turn, capital inflows help boost output growth in a set of 38 Sub-Saharan African countries. Using a two-step approach to address reverse causality and omitted variable issues, the paper finds that output...