This background paper for the World Bank’s World Development Report 2011 discusses current financing arrangements for postconflict countries and fragile states, with a focus on official development assistance. In recent years a consensus has emerged that in these “difficult environments”...

In this chapter from the forthcoming book, The Political Economy of Financial Crises, edited by Gerald Epstein and Martin H. Wolfson, (Oxford University Press, 2012) Engelbert Stockhammer discusses ‘financialization’, i.e. changes in the role of the financial sector. This will highlight (1)...

Grabel addresses three related questions. How is the crisis affecting the governance of the IMF and the influence that developing countries have within the institution; the policy space available to developing countries; and the prospects that alternative financial architectures will emerge as...

This is substantially revised and updated version of a paper that was first published as a PERI Working Paper in August 2010.The response by the IMF (and developing country national governments) to the current global financial crisis represents a moment of what I term “productive...

International capital mobility has long been associated with financial and banking crises.  The Articles of Agreement of the International Monetary Fund contain multi-lateral rules to govern global capital flows.  For some countries, especially those in the developing world, the IMF Articles...

Significantly revised, April 2011The paper examines three related questions. How is the crisis affecting the governance of the IMF and the influence that developing countries have within the institution; what new policy space is available to developing countries; and what alternative financial...

The current crisis is proving to be productive of institutional experimentation in the realm of financial architecture(s) in the developing world. The drive toward experimentation arose out of the East Asian financial crisis of 1997‐98, which provoked some developing countries to take steps to...

Societies embarked on the fragile transition from war to peace face enormous economic, social, and political challenges. In attempting to support this transition, the international community often provides substantial amounts of external assistance. This aid can play an important and...

In the wake of violent conflict, a key element of building a durable peace is building a state with the ability to collect and manage public resources. To implement peace accords and to provide public services, the government must be able to collect revenue, allocate resources, and manage...

Revenues from extractive sectors such as oil and gas, minerals, and logging play an important role in many post-conflict environments, often providing more than 30% of state fiscal receipts. When managed well, these revenues can help to finance postwar reconstruction and other vital...