UNDP Round Tables have been traditionally used to facilitate the dialogue between recipient governments, chiefly in the least developed countries (LDCs), and their main donors. In this document, written for UNDP as part of an evaluation of its Round Table process, we investigate the...

Sovereign wealth funds, investment vehicles created, funded and controlled by nation states, do not adhere to any clear legal status. Their public ownership and ultimate objectives, together with the private nature of their activities, most of which are confidential and international, have...

In this article, tests for globalization and contagion are separated using an ex ante definition of crises, and contagion tests are neutralized with respect to globalization effects. A large database is constructed to study the stability of correlation matrices for four asset classes : equities,...

Our thesis focuses on private capital inflows affect on economic growth in developing countries. For our analysis, we distinguish three types of private flows: foreign direct investment, bank loans and portfolio investment. From a theoretical view, the capital inflows affect positively economic...

This paper analyses the response of the euro yield curve to macroeconomic and monetary policy announcements. We present a new methodology for estimating the reaction of the euro swap curve to economic news in a data-rich environment. Given the sharp degree of interdependence between euro and US...

Using equilibrium exchange rate models (PPP, BEER and FEER), many authors have concluded that the renminbi is undervalued by 15 to 30% against the dollar, but they implicitly assume that the economy is at full-employment, a debatable hypothesis for developing economies such as China, whose...

Le terme de « gouvernance » trouve son origine dans l’ancien français et, d’après « Le Robert », désignait l’action de piloter un navire en manœuvrant le gouvernail. Acclimaté outre Atlantique, le concept resurgit dans les années quatre-vingt-dix pour désigner la gestion des...

Les relations entre corruption et ouverture commerciale ont été peu étudiées. Pourtant, plusieurs raisons portent à croire que la corruption influence l’ouverture commerciale, et que, inversement, l’ouverture commerciale d’un pays joue sur son niveau de corruption. On peut penser, par...