UNICEF initiated a multi-country initiative to better understand the dynamics of investing in human capital in the Eastern and Southern Africa region (ESAR). The project sought to identify potential opportunities for governments to increase expenditure on the sectors that matter most for...

UNICEF initiated a multi-country initiative to better understand the dynamics of investing in human capital in the Eastern and Southern Africa region (ESAR). The project sought to identify potential opportunities for governments to increase expenditure on the sectors that matter most for...

Unparalleled is a word that best describes the current state of advanced economies. Interest rates are low in many advanced countries and negative in a few others suggesting that monetary policy has lost its effectiveness. The economic policy tool that has not been implemented yet by many...

Abstract Englisch Apparently the European economic model being subjected to a double competition problem. On the one hand, there are enormous differences in the level of competitiveness of the various member countries of the euro area and the EU among themselves. In the long term this Problem...

In January 2015 the radical left SYRIZA has won the Greek national elections and formed a coalition government with Independent Greeks (ANEL), a right-wing populist party. After a seven-month negotiation with Greece’s creditors and the agreement for the implementation of a third memorandum of...

In this paper, we consider how European institutions contributed to the euro crisis. In principle, the Stability and Growth Pact was intended to minimize externalities by preventing macro-economic "bad behavior" in the form of large budget deficits. In practice, it has had a difficult history,...

The size of government expenditure in an economy grows over time. To finance these expenditures, public incomes must grow as well. Given that tax revenues are not sufficient for such spending and levying, new taxes and/or increasing current tax rates are not politically desirable, the only...

Turkish social security system has been developed under various social security institutions to provide social insurance against various social risks since 1945. Although the system has just 62 years history, it is in such situation that it is just able to provide its services with income...

How should small states formulate a countercyclical fiscal policy to achieve economic stability and fiscal sustainability when prone to natural disasters, climate change, commodity price changes, and uncertain donor grants? We study how natural disasters and climate change affect long-term debt...