The paper suggests that, rather than through its narrow, direct financial impact, microfinance may prove to be more potent in reducing insecurity and poverty through its indirect, broader impact leading to a more egalitarian initial endowment distribution that is necessary for the "take-off" of...

This paper surveys the ways that the structure and magnitude of financial sector compensation can generate incentives for excessive risk taking. It also highlights the underlying economic and institutional forces that have underpinned and sustained these pay structures, including aspects of...

This paper reviews the role of climate change vulnerability in identifying least developed countries (LDCs). Taking a sustainable development perspective, it argues that climate change should be seen as an aggravating factor of existing handicaps and many indicators used to identify LDCs already...

International support to the sustainable development of SIDS has been on the international policy agenda for a long time, whereas challenges are intensifying. Stabilizing global economic and financial markets and international measures to reduce climate changes are indispensable to reduce...

The paper discusses the progress of Indian economy and its policies since the broad-based structural reforms initiated in 1991 with a special focus on the recent downturn following the global financial crisis. The paper is structured into two parts: first part discusses the major economic and...

As the international financial crisis spreads, some governments are using “unconventional tools” of monetary and financial policy to protect themselves. Should policies to control international capital flows be part of the government “toolkit” in these difficult times? This essay...

This United Nations Policy Note on State-Owned Enterprise Reform provides practical guidance on alternative policies to reform SOEs and manage natural resource rents. This Policy Note has been developed in cooperation with UN agencies, and has been officially reviewed by distinguished academics/...

This United Nations Background Note on Macroeconomics and Growth provides practical guidance on how to operationalize alternative equitable and employment-generating macroeconomic and growth policies in National Development Strategies. This Policy Note has been developed in cooperation with UN...

This Working Paper explores the role of employment growth in determining the effect of a given rate of economic growth on the rate of change in poverty. It is based on the findings of 16 country case studies recently carried out by the United Nations Development Programme and the International...

There has long been a minority view that providing people with cash is an effective way of combating poverty and economic insecurity while promoting livelihoods and work. The mainstream view has been that giving people money, without conditions or obligations, promotes idleness and dependency,...