"The recent global financial crisis has shaken the confidence of developed and developing countries alike in the very blueprint of financial and macro policies that underlie the western capitalist systems. In an effort to contain the crisis from spreading, the authorities in the US and many...

Armenia has a very small economy that has carried out strong reforms in many areas over the past decade and a half. It grew at a very fast pace prior to the global crisis (about 12 percent on average between 2000 and 2007), in part due to a strong inflow of remittances and Foreign Direct...

Section one provides a brief background on the recent macroeconomic developments, starting with the immediate positive past, the growth payoffs in terms of poverty reduction and concluding with a description of persistent and emerging vulnerabilities. Section two continues with the story of the...

Iraq is facing daunting challenges of Islamic State of Iraq and Syria (ISIS) insurgency, political upheaval, and profound economic and humanitarian crises. Compounding the ISIS-related crisis, the sharp decline in global oil prices has resulted in significant decline in oil export revenues....

Turkey experienced severe losses of life and infrastructure in 1999 caused by the August earthquake. The earthquake was followed by a period of economic and financial crisis, culminating in a major currency devaluation in February 2001. What has been the social impact of these crises? In order...

East Asia has recovered from the economic and financial crisis. Largely thanks to China, the region's output, exports and employment have mostly returned to the levels before the crisis. Leading the global economy, real gross domestic product (GDP) growth in developing East Asia is poised to...

The Philippines economy posted robust growth in early 2010, in part due to large one-off factors. As did many countries in the region, the Philippines benefited from a strong rebound in global trade. Manufacturing and investment activity expanded briskly as a result. Private consumption...

Tajikistan is one of the world's most remittance-dependent economies, receiving net remittance inflows equivalent to approximately 40 percent of Gross Domestic Product (GDP). Falling remittance inflows was one of the main transmission channels through which the 2008-09 global economic crisis...

With the recent stock market frauds in markets around the world such as the Madoff case in the U.S. and the recent Satyam fraud in India, no nation can hold its head high and claim to have good corporate governance. The reality is that the problems of fraud, faulty audits, misleading accounts,...