"The paper identifies a set of core concepts that reflect key "political economy" factors shaping the policy reform process that can assist in guiding the policy-based lending (PBL) design process. It discusses the recurring themes that constrain the effectiveness of PBL, reviews from a...

Today’s global economy is marked by upheavals that are extensive, interconnected and unpredictable. Hot wars, cold rivalries, global pandemics, and disrupted supply chains are the realities for enterprises and governments. Geo-economics is a powerful and disruptive force shaping turbulent...

Asian emerging economies are faced with reconciling the requirements of economic reform, meaning the long-term structural transformation of their economies, with effective political governance. They are embarking on essential economic change as growth prospects of the world economy are clouded...

The imposition of sanctions on Russia's reserves by mainly Western countries because of the invasion of Ukraine, is an unprecedented weaponization of the dollar-dominated global financial system on such scale against a major country's central bank. This action, viewed against the earlier...