This paper, on the Polish fixed-income securities market, reviews the recent evolution of the Polish fixed-income market and examines selected policy challenges ahead, with a special focus on the municipal bond market. The study demonstrates that despite some progress, by which Poland has made...

The prospect of European integration presents huge opportunities and challenges for the development of non-bank financial institutions (NBFIs) in Ukraine. By most measures, the development of the NBFI sector in Ukraine lags far behind that of recent accession countries in Central Europe. To...

The purpose of this paper is to compare the European Union (EU) and United States (U.S.) securities regulations. In November 2007, the market in financial instruments directive 2004/39/EC (MiFID) came into force in the EU, and brought about deep changes in the market infrastructure. The same...

This study reviews the recent developments in capital markets and institutional investors in Russia, and examines the policy challenges ahead for the development of the sector. The analysis covers key impediments for further development and policy challenges for securities markets, in particular...

The purpose of this paper is to compare the European Union (EU) and United States (U.S.) securities regulations. In November 2007, the market in financial instruments directive 2004/39/EC (MiFID) came into force in the EU, and brought about deep changes in the market infrastructure. The same...

From its creation in the 1990s, the Chilean monitoring and evaluation (M and E) system has represented a substantial part of the effort to improve the use of Chile's public resources within a broader context of multiple initiatives designed to modernize and improve public management in many...

Events of the past decade have underscored the vital need for social safety net (SSN) programs in all countries, especially in times of crisis. Many countries have some form of targeted SSN program, especially in high- and middle-income countries, but SSNs are increasingly spreading to the...

A series of global initiatives have been launched over the last decade by the international community to accelerate progress toward meeting the Millennium Development Goals. These initiatives entailed commitments to provide more aid and efforts to strengthen aid effectiveness. They culminated in...

The way countries finance health care influences how well a health system performs and achieves its expected outcomes, including how equitable and efficient it is. Countries decide how to mobilize revenues from different sources for financing health care, how to pool revenues in public and...

The aim of this report is to inform the design and the implementation of Multilateral Investment Guarantee Agency (MIGA's) new Strategic Directions FY12-14 by drawing lessons from recent experience with one of the main pillars of the MIGA, financial sector guarantees, the fastest growing...