The output contractions during the initial transition stages in the Baltics and in Russia and the other CIS countries are examined across several dimensions, and the reliability of the available official statistics evaluated. The depth, length and breadth of the contractions are studied and set...

This paper examines the extent to which conclusions of cross-country studies of private savings are robust to allowing for the possible heterogeneity of savings behavior across countries and the inclusion of dynamics. It shows that neglecting heterogeneity and dynamics can lead to misleading...

The staff report for the 2008 Article IV Consultation of the Former Yugoslav Republic of Macedonia discusses economic developments and policies. The new government’s economic program aims to raise growth further, but does not address these vulnerabilities. Plans to increase the central...

This Selected Issues paper reviews the extent to which growth in Ethiopia has translated into higher living standards. A key feature of the economic strategy has been an explicit commitment to poverty reduction and structural transformation. This is underpinned by the vision of a...

This Selected Issues paper analyzes Jamaica’s experience of low growth despite consistently high investment rates. It suggests that the link between public debt and productivity is part of the answer to the puzzle. The paper considers Jamaica’s debt management strategy and its...

This Selected Issues paper for the United States discusses the microeconomics of the country—household wealth and savings. Households’ consumption-saving decisions have an important bearing on the U.S. economic outlook. This paper demonstrates how households with consistently lower...

This Selected Issues paper aims at discussing the impact of the oil windfall on Chad, with a focus on growth, poverty, competitiveness, and fiscal policy challenges posed by the oil revenue outlook. The paper discusses the reforms needed to remove structural factors that constraints the non-oil...

The loss of trade preferences in textiles in 2005, the reform to the European Union’s sugar protocol for 2006–10, and higher international oil prices have brought about a permanent deterioration in Mauritius’s terms of trade. This 2007 Article IV Consultation highlights that...

This 2013 Article IV Consultation highlights that recent macroeconomic developments in The Federal Democratic Republic of Ethiopia are encouraging, with a significant deceleration in inflation and continued robust economic growth. Despite significant decline in coffee prices and supply...

This Selected Issues paper focuses on recent developments with Kiribati’s Revenue Equalization Reserve Fund (RERF). The paper also examines fiscal aspects of climate change, and considers options for improving fishing license fees, which remain an important source of revenue. It also...