This book describes the reforms needed to move small middle-income countries in sub-Saharan Africa to advanced-economy status. The result of intense discussions with public officials in the countries covered, the book blends rigorous theory, econometrics, and practitioners' insights to come up...

Growth in the first half of 2018 was softer than in 2017, especially in advanced economies. In contrast, growth remained robust in emerging market economies and broadly in line with expectations. After rising to 6.9 percent in 2017, growth in China continued to be strong into the first half of...

Capital markets can improve risk sharing and the efficiency with which capital is allocated to the real economy, boosting economic growth and welfare. However, despite these potential benefits, not all countries have well developed capital markets. Moreover, government-led initiatives to develop...

Over the past two decades China's growth has been rapid, social indicators have improved, and poverty levels have inched downward. However,widening inequality, increasing resource and financial imbalances, and growing environmental concerns provide China with daunting challenges in improving the...

Despite Mexico’s recent remarkable progress in adjusting its fiscal and external accounts and in restructuring its economy, the recovery of growth has remained elusive. This paper reviews some aspects of Mexico’s recent performance and suggests that systemic adjustment uncertainty, and...

This paper examines economic developments and policies in Canada during 1990–95. Spurred by the robust growth in the United States and the easing of monetary conditions between 1991 and 1993, economic growth in Canada continued to strengthen during 1994. Real GDP grew by 4.5 percent in 1994...

1. Introduction -- 2. One Human Race; a Shared Destiny -- 3. Historical Background -- 4. Societal Processes of Change -- 5. Culture and Civilization -- 6. Materialism in Historical Perspective -- 7. Dynamics of Power, Wealth and Knowledge -- 8. Decline of Democracy and Capitalism -- 9. A Folk...