Following the East Asian financial crisis, the Bank's involvement in Thailand intensified, enabling a multifaceted stabilization, and structural reform dialogue, which deepened the economic, financial, and sector knowledge of the country. The study benefits from this analytical work, and...

This Report discusses the challenge of budget financing of core structural reforms, within a broader framework of fiscal management reforms in Russia. It argues that explicit financing of structural reforms is fully justifiable because these are the investments in the institutional...

This economic report records the economic activities of Armenia for the year 2013. A steep decline in construction caused economic growth to weaken to 0.6 percent in the second quarter of 2013 (year-on-year) from 7.5 percent in the first quarter and 7.2 percent in 2012 as a whole. Developments...

The global crisis is now in the rear view mirror and world growth is being restored. In sharp contrast with past episodes of global turmoil, this time the recovery is led by the periphery, specifically by the larger and more dynamic emerging markets (Brazil, China, India, South Korea, Malaysia,...

The Economic Monitor examines four possible factors behind Tunisia's slow recovery. First, the drop in mobility related to the pandemic may have been more harmful in Tunisia. However, mobility in Tunisia has dropped to a similar extent as other countries and it has now returned to pre-pandemic...

"This paper re-emphasizes the link from structural policies to enhanced macroeconomic stabilization using a small structural model estimated on quarterly data for Macedonia and Slovakia over 1995-2007. The success of macroeconomic stabilization, typically in the hands of monetary policy, is not...

"This paper analyzes the process of institutional transformation in Bulgaria and assesses the extent to which it has established institutions and policies fostering domestic economic activity and integration into global markets. After a brief review of characteristics and achieved progress in...