This paper surveys the recent literature on fiscal sustainability, with particular emphasis on emerging market countries. It discusses the main elements that differentiate emerging market countries from industrial countries and then discusses how probabilistic models can help to evaluate fiscal...

Regional integration initiatives have long been part of the world economic landscape. In Latin America, integration flourished in the early post-war era but then lost momentum until the 1990s, when there was a new wave of initiatives ranging from free trade areas to customs unions. This Report...