Over the past decade, the United States has been very successful atcreating jobs. Some other industrial countries have clearly lagged behind. But what is the reason why some countries are more successful than others at creating employment? Are there common factors that explainjob creation? This...

Over the past 25 years, the share of employment accouted for bymanufacturing has fallen dramatically in the world's most advanced economies, a phenomenon widely referred to as ""deindustrialization.""Many see deindustrialization as widening income inequalities and causinga sharp rise in...

This chapter provides various IMF staff's concluding remarks of completion of Article IV Consultation with different countries. The IMF holds bilateral consultations under Article IV of its Articles of Agreement with all its member countries, in most cases every year. As part of these...

This paper examines the recent evolution of exchange rate policies inthe developing world. It looks at why so many countries have made a transition from fixed or ""pegged"" exchange rates to ""managed floating""currencies. It discusses how economies perform under different exchangerate...

Although the theoretical relationships are ambiguous, evidence suggestsa strong link between the choice of the exchange rate regime and economicperformance. The paper argues that adopting a pegged exchange rate canlead to lower inflation, but also to slower growth in productivity. Itfinds that...

Efforts to liberalize world trade are increasingly focusing on strengthening the links between low-income countries’ trade policies and their development strategies. However, although greater trade openness promises faster growth for poor countries, it also presents risks to those with small...