As late as October 1997 the IMF declared that the Korean economy was experiencing a temporary liquidity squeeze, not a solvency crisis. Yet in December 1997 Deputy Managing Director Stanley Fischer declared that Korea suffered from a systemic “breakdown of economic relations†so...

Grzegorz W. Kolodko, one of the world's leading authorities on economics and development policy and a key architect of Poland's successful economic reforms, applies his far-reaching knowledge to the past and future of the world economy, introducing a framework for understanding our global...

Brazil features regularly in global comparisons of large developing economies. Yet since the 1980s, the country has been caught in a low-level equilibrium, marked by lackluster growth and destructive inequality. One cause is the country's enduring commitment to a set of ideas and institutions...

Purpose – The purpose of this paper is to investigate the main determinants of dependency on food aid programmes. Food aid may take the form of a loan, a sale below market price or a current transfer. Food aid programmes across the globe are generally designed to provide short-term assistance...