Solving the world’s environmental problems could take a significant toll on economic growth if only today’s technologies are available. We know that innovation – the creation and adoption of new cleaner technologies and know-how – provides a means to achieve local and global...

The Paris Declaration on Aid Effectiveness calls upon donor and partner countries to enhance the effectiveness and efficiency of country systems in a way that guarantees ownership and sustainable results. Within this context, the current paper provides a synthesis of major elements and...

In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate...

One of the alternatives to traditional command-and-control regulation is the use of marketable permits and obligations. Based on the growing record of actual performance of these instruments, this paper provides practical insights into difficult design, implementation, and management issues. It...

Trade integration can play a much larger role in boosting shared prosperity. The current focus on trade tensions threatens to obscure the great untapped benefits possible from further trade reform. The opportunities provided by information technology and other fundamental changes in the global...