As research on the empirical link between aid and growth continues to grow, it is time to revisit the accumulated evidence on aid effectiveness. This paper does this by building on the meta-analysis in our previous work. The availability of more data enables us to conduct a sub-group analysis by...

We estimate panel vector autoregressions to analyze the highly disputed relationship between sovereign debt and economic growth. Using data on 20 developed countries, we find no evidence for a robust effect of debt on growth, even for higher levels of debt. We do find a significant negative...

The Basel gap, the difference between a country's credit-to-GDP ratio and its estimated long-term trend, is used as a basis for setting the countercyclical regulatory capital buffers under the Basel III regulatory framework. Using international data from the BIS as well as simulations, we show...

This research studies whether the Clean Development Mechanism (CDM) of the Kyoto Protocol achieves its objective of emission reductions in the host countries. It empirically investigates the impacts of CDM projects on CO₂ emission reductions for 60 CDM host countries over 2005-10. This...

Three interconnected crises - of the global financial system, food security and global warming - potentially threaten peace and stability. Multilateral action must be combined with a clearer understanding of how they affect each other and their regional and country level impacts

Foreign aid has evolved considerably over the last five decades in response to a dramatically changing global political and economic context. This paper takes a retrospective look at this process and discusses whether aid has been effective in furthering economic growth and development. The...

More than 200 researchers and policymakers came together in Helsinki in mid-May to celebrate UNU-WIDER's 25th anniversary and to discuss the 'Triple Crisis' of finance, food and climate change — and its implications for poverty, inequality and human development. Energetic debate, from a wide...

One of the dual objectives of the Clean Development Mechanism (CDM) of the Kyoto Protocol is to assist host countries in achieving sustainable development. With various CDM indicators for 58 CDM host countries over the period 2005-2010, this paper empirically assesses whether CDM project...