OECD Members, like those of the European Union, have created a new culture of policy interdependence and mutual respect. This gives the lie to the idea that cultures are deterministic, backward-looking realities that prevent some countries from developing and help others to do so. International...

Expectations of a broader convergence of living standards worldwide have spread at the same time as emerging markets and mature democracies seek to attract foreign investment in order to accelerate economic growth. In this increasingly competitive global environment, the protection of property...

Strong growth in China and India has led to improvements in raw-material exporting countries' terms of trade and attracted complementary finance. The long-term challenge for these countries, where institutions are often fragile, is to avoid the so-called “resource curse”. This paper aims to...

Can devaluations and exchange controls be co-ordinated at the regional or global level, to lessen their beggar-thy-neighbour character? Probably not without co-ordination mechanisms among monetary and fiscal authorities like the ones found in the EU. How precisely the mechanisms may apply to...

Globalisation, governance and economic performance affect each other in very complex mutual relationships. In this paper, we establish a clear and well-circumscribed hypothesis: “is there an effect of globalisation <I>on</I> governance?” To test this hypothesis or, even more specifically, to test...</i>

The so-called “accession economies” preparing to enter the European Union are experiencing increased inward capital flows based upon positive interest spreads and expectations of currency appreciation. While the authorities of these countries have tried to manage these flows and to prevent...

Remittance flows are an important source of financing for developing countries. In addition to the microeconomic impact at the household level, remittances have grown into an important pillar of macroeconomic stability, reducing volatility of external flows, lessening the probability of current...

Global allocation of capital and fluctuations in asset prices are increasingly influenced by the activities of Sovereign wealth funds (SWFs). The Santiago Principles called for higher transparency, stressing that SWFs should exhibit clearer governance standards and sound portfolio management...

L’essor du commerce avec la Chine et l’Inde ouvre de nouvelles possibilités d’exportation à l’Amérique latine. Les pays d’Amérique latine doivent investir dans les infrastructures et l’innovation.

Growing trade with China and India offers new export opportunities for Latin America. Latin American countries need to invest in infrastructure and innovation. * This Policy Insights is based on the Latin American Economic Outlook 2008.