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...

The alleged undervaluation of the renminbi has been the subject of intensive academic research over the past few years. Using equilibrium exchange rate models many authors have concluded that the renminbi is undervalued by 15 to 30% against the US dollar. Yet China has been experiencing strong...

The purpose of this paper is to analyze the impact of the Bank of Japan's official interventions on the JPY/USD parity during the period 1992–2004. The novelty of our approach is to combine two recent advances of the empirical literature on foreign exchange interventions: (i) drawing on...

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...