Many parts of Middle East and North Africa (MENA) have experienced volatility and fragility due to conflict over the course of the region's long and complex history. These conflicts have had significant impact on economic and human development indicators. Also, and more recently, massive...

The 2011 World Development Report (WDR) on 'Conflict, Security and Development' has reaffirmed global research that conflict is in many respects a self-perpetuating cycle. Put simply, factors related to the onset of conflict are reinforced by ensuing violence trapping countries in a cycle which...

The debate on whether natural disasters cause significant macroeconomic impacts and indeed hinder development is ongoing. Most analyses along these lines have focused on impacts on gross domestic product. This paper looks beyond this standard national accounting aggregate, and examines whether...

East Asia has experienced a dramatic decrease in output growth volatility over the past 20 years. This is good news, as output growth volatility affects poor households because of coping strategies that have long-term, harmful consequences, and the overall economy through its negative impact on...

This paper analyzes the drivers and consequences of sudden stops of capital flows. It focuses on the impact of external vulnerability on the depth and length of sudden stop crises. The authors analyze 43 developing and developed countries between 1993 and 2006. They find evidence that external...

This paper analyzes the impact of banking crises on manufacturing exports exploiting the fact that sectors differ in their needs for external financing. Relying on data from 23 banking crises episodes involving both developed and developing countries during the period 1980-2000 the authors...