This Selected Issues paper reviews recent developments in growth and employment in Bulgaria and highlights key constraints to growth suggested by cross-country competitiveness studies. Bulgaria’s GDP has grown substantially since economic and financial stabilization in 1997. The global...

We set up a simple overlapping generation model that allows us to distinguish between life expectancy and active life expectancy. We show that individuals optimally adjust to a longer active life by educating more and, if the labor supply elasticity is high enough, by supplying less labor. When...

This Selected Issues paper reviews the extent to which growth in Ethiopia has translated into higher living standards. A key feature of the economic strategy has been an explicit commitment to poverty reduction and structural transformation. This is underpinned by the vision of a...

This Joint Staff Advisory Note (JSAN) reviews Togo's Interim-Poverty Reduction Strategy Paper (I-PRSP), which is aimed to strengthen political and economic governance, support economic recovery, and reduce poverty. The I-PRSP recognizes challenges to achieve the MDGs and the risks to its...

The three-point VAT increase is part of a package in which unemployment payroll taxes will be reduced. Risks to the recovery are balanced but the range of forecasts for 2007 is unusually wide. The priority for Germany is to transmit its external strength to the domestic economy, thus further...

It is vital to achieve both high levels of sustained, long lasting growth and better income distribution through the Accelerated Growth Strategy in Senegal. In terms of macroeconomic performance, the annual average growth rate dropped owing to exogenous shocks and low productivity in the...

The Growth and Social Protection Strategy (GSPS) attaches great importance to the promotion of economic growth and job creation, given the nature of poverty in Dominica. The GSPS also stresses that existing health and education programs are essential to foster growth in the medium and long...

The Armenian government adopted the Poverty Reduction Strategy Paper (PRSP), and the first years of the PRSP implementation have evidently resulted in the significant reduction of both poverty and extreme poverty. The main focus has been sustainable economic growth, institutional reforms, and...

This Joint Staff Advisory Note (JSAN) reviews the Second Accelerated Development and Poverty Reduction Strategy (SDARP) of Niger, which provides a framework for implementing the government’s growth and poverty reduction agenda. It provides a thorough poverty diagnosis, sectoral plans,...