A second-generation model of currency crises is combined with a standard model ofbanks as providers of insurance against liquidity risk. In a pegged exchange rateregime, after funds have been committed to the banks, news arrives about the qualityof the banks’ assets and about the exchange rate...

The economy is estimated to have grown by 2.6 percent in 2024, surpassing expectations due to an unexpected surge in activity but the recovery continued to lag behind peers. The latest gross domestic product (GDP) release showed that growth picked up at 3.0 percent year-on-year in 2024 Q3. In Q3...

Bhutan's broad-based growth has reduced poverty and inequality over the past decades. To respond to the COVID-19 pandemic and multiple global and domestic crises, the country adopted unorthodox policies such as using foreign reserves to invest in crypto-mining, which slashed reserves by half and...

The Subnational public finance report is the first in a series of World Bank reports that analyze local and regional government fiscal and financial developments in Croatia. The objective of this work is to offer policy advice on improving public service delivery in a fiscally efficient and...

Viet Nam's rapidly growing economy has created increasing energy demands, with significant untapped offshore wind resources located in shallow waters near population centers. While several near-shore projects were previously developed under a Feed-in-Tariff system, no far-shore installations...

Artificial Intelligence (AI) has significant potential to help drive economic development and poverty reduction in low- and middle-income countries (LMICs). AI-including traditional and generative AI (GenAI)-is a tool that can help foster resilient, sustainable, and inclusive economic growth....

Bhutan's real GDP growth rate remained robust in FY23/24. The agriculture sector grew modestly due to lower crop yields. The industry sector grew modestly, supported by strong growth in mining and quarrying industry. Hydropower and construction sectors recorded a lackluster performance in...

The Maldivian economy relies heavily on tourism and fisheries; the labor gap persists. This study seeks to understand these dynamics and propose concrete solutions to foster gender-equitable value chains in both sectors, increase women's economic participation, and promote equitable growth. The...

The region's growth outlook for 2017-19 remains broadly positive. China's growth moderation and rebalancing are expected to continue. In the region's other large developing economies, growth is projected to pick up slightly. Poverty has continued to decline in most countries and is projected to...