"In this paper the authors reconsider the idea of an earnings-related pension system with reserves invested in indexed government bonds as a mechanism to both ensure financial sustainability and improve security. They start by reviewing the characterization of the sustainable rate of return of...

"Regulation is purportedly enacted to serve specific social purposes. In reality, however, it follows a more complex political economy process, where legitimate social goals are mixed with the objectives of particular interest groups. Whatever its justification and objectives, regulation can...

"This paper examines legal and regulatory measures that can be taken to promote access to the primary market in emerging market economies. While capital market development depends on many factors including, primarily, a favorable macroeconomic environment, an appropriately designed and effective...

This report examines the challenges in the labor market in Mongolia as the economy has undergone a transformation into a market economy. It identifies three major interrelated challenges-joblessness, informality and skills mismatch. The inability to find productive employment has important...

The report comprises two volumes, the Executive Summary and Policy Recommendations (Volume 1), and the Background Documents (Volume 2), providing the scope, and organization of the study as follows. The first chapter assesses the performance of Chile in the knowledge economy, where knowledge is...

The report comprises two volumes, the Executive Summary and Policy Recommendations (Volume 1), and the Background Documents (Volume 2), providing the scope, and organization of the study as follows. The first chapter assesses the performance of Chile in the knowledge economy, where knowledge is...