This report is organized as follows. After this introduction, the second section explains the main data sources used in the study. The third section discusses the relationship between sectoral output growth and employment generation, and presents basic estimates on growth elasticities. The...

The effect of developing country loan reschedulings on large U.S. banks is investigated using an event study methodology. The major finding concerns the evolving nature of the impact of loan reschedulings. During 1978-80, reschedulings had a positive effect on bank returns, in contrast to the...

The manner in which the political system responds to external economic shocks in developing countries is a key determinant of the private investment response. We look at a simple model of political-economic equilibrium to make this intuition more precise. and develop the idea of a "political...

This paper investigates the relationship between political instability and per capita GDP growth in a sample of 113 countries for the period 1950-1982. We define ?political instability? as the propensity of a government collapse, and we estimate a model in which political instability and...

Previous empirical studies of secondary market discounts for developing countries have ignored important creditor country factors. The empirical evidence in this paper indicates that, after controlling for repayment indicators of borrower countries, bank exposure and capital are important...