This Selected Issues paper and Statistical Appendix for Netherlands Antilles examines the economic growth in Small Island Economies. The paper finds that the Small Island Economies as a group grew faster than the rest of the world during 1960–85. The paper analyzes whether Small Island...

This study examines the determinants of entry into by foreign firms, using information on 515 Chinese industries at the provincial level during 1998-2001. The analysis, rooted in the new economic geography, focuses on market and supplier access within and outside the province of entry, as well...

We review the literature on Dutch disease, and document that shocks that trigger foreign exchange inflows (such as natural resource booms, surges in foreign aid, remittances, or capital inflows) appreciate the real exchange rate, generate factor reallocation, and reduce manufacturing output and...

Spain showed strong growth performance marked by robust job creation and a solid fiscal position. Executive Directors supported the National Reform Program (NRP), which focuses on improving productivity, market flexibility, and competitiveness. They commended the appreciable fiscal surplus,...

This Work Program (WP) translates the policy priorities and strategic directions laid out in the Fall 2016 Global Policy Agenda (GPA) and the International Monetary and Financial Committee (IMFC) Communique into an Executive Board agenda for the next six-twelve months. The Managing Director's...

The Managing Director's Global Policy Agenda (GPA) presented to the International Monetary and Financial Committee (IMFC) in April called on member countries to reinforce their commitment to strong, sustainable, inclusive, job-rich, and more balanced global growth and to employ a three-pronged...

The Managing Director's Global Policy Agenda (GPA) presented to the IMFC in April identified a range of actions needed to bolster today's actual and tomorrow's potential output, diminish risks, and confront emerging global challenges. These actions included calibrating fiscal adjustment to...

This Work Program (WP) translates the strategic directions and policy priorities laid out in the Fall 2017 Global Policy Agenda (GPA) and the International Monetary and Financial Committee (IMFC) Communique into an Executive Board agenda for the next twelve months, with a focus on the next six...

This Work Program (WP) translates the policy priorities and strategic directions laid out in the Spring 2017 Global Policy Agenda (GPA) and the International Monetary and Financial Committee (IMFC) Communique into an Executive Board agenda for the next twelve months. The Managing Director's GPA,...

Our work on restructuring the IMF is now well advanced, but our work on refocusing the IMF is only beginning. Over the next few months I expect to see a shift of emphasis in our work away from our internal concerns such as the size and governance structure of the IMF and toward the actions the...