The author of this paper assesses the medium- to long-term outlook for global demand and supply of capital. He reaches the following conclusions: 1) the demand for investment funds in developing countries will remain strong, but most increased demand will likely be met by domestic savings....

If bureaucratic burden and delay are exogenous, a firm may find bribes a helpful way to cut through red tape. According to the"efficient grease"hypothesis, corruption can improve economic efficiency, and,fighting bribery can be counterproductive. This need not be the case. In a general...

Argentina, Chile, Colombia, Jamaica, Trinidad and Tobago, and Uruguay undertook extensive trade reform at a time of crisis, at which time institutional reform was difficult to undertake. Many of the countries had become members of the General Agreement on Tariffs and Trade (GATT) in the late...

The issue of the credit crunch in the aftermath of the Asian crisis has stimulated much debate. Indeed, some features of the East Asian economies, such as bank-based financial systems and high leverage, make them particularly vulnerable to monetary and financial shocks. Under such circumstances,...

The author empirically explores the relationship between household poverty and the incidence and treatment of fever--as an indicator of malaria--among children in Sub-Saharan Africa. He uses household Demographic and Health Survey data collected in the 1990s from 22 countriesin which malaria is...

The empirical literature on finance and development suggests that countries with better developed financial systems experience faster economic growth. Financial development-as captured by size, depth, efficiency, and reach of financial systems-varies sharply around the world, with large...

The author surveys the recent literature on the sustainability of fiscal deficits, most of which focuses on the United States and other industrial countries, to see how useful it might be in developing countries. The accounting approach to analysis focuses on steady states and assumes that a...

By the end of 1999, an estimated 24.5 million Africans were living with HIV/AIDS, accounting for more that seventy percent of all global infections. In Tanzania, an estimated 1.3 million people (of a total population of 33 million) were believed to be infected with HIV, and 140,000 had already...

The authors present a model that links heterogeneity of preferences across ethnic groups in a city to the amount and type of public good the city supplies. Results show that the shares of spending on productive public goods - education, roads, sewers, and trash pickup _ in U.S. cities (metro...

Bringing the United States and major developing countries to control their greenhouse gas emissions will be the key challenge for the international climate regime beyond the Kyoto Protocol. But in the current quantity-based coordination, large uncertainties surrounding future emissions and...