This book aims to contribute to the World Bank's education agenda by communicating research findings on the impact of education quality on economic growth. Eric Hanushek and Ludger Wößmann show that indeed the quality of education, rather than mere access to education, is what impacts economic...

"Do aggregate economic shocks, such as those caused by macroeconomic crises or droughts, reduce child human capital? The answer to this question has important implications for public policy. If shocks reduce investments in children, they may transmit poverty from one generation to the next. This...

"For the evaluation of macroeconomic policies Colombian authorities rely heavily, if not exclusively, on the operational framework known as the Financial Programming Model developed by the International Monetary Fund in the 1950s. Based on this static framework, the formulation of fiscal policy...

The study reviews the macroeconomic developments in the Kyrgyz Republic following the collapse of the Soviet Union, when adjustments were required since output fell by fifty percent between 1991-95, resulting in adverse fiscal consequences, which triggered losses in tax revenues, along with the...

The study reviews the macroeconomic developments in the Kyrgyz Republic following the collapse of the Soviet Union, when adjustments were required since output fell by fifty percent between 1991-95, resulting in adverse fiscal consequences, which triggered losses in tax revenues, along with the...

The report titled ‘contingent liabilities: the Colombian experience,’ is the first publication on the management of contingent liabilities in Colombia. Published by the Ministry of Finance and Public Credit (MHCP), the report highlights technical and normative efforts and policy reforms on...

Unlike common practices in other EU member states and despite being mandated by EU law, Poland still lacks a fully-fledged Independent Fiscal Institution. IFIs are impartial, expert bodies that help improve the transparency, accountability, and quality of fiscal policies, and support sound and...

The government of Mongolia has presented the creation of a new sovereign wealth fund designed to invest in domestic assets, to be managed in whole or in part by state-owned mining enterprise Erdenes Mongol. This new fund will supplement existing extrabudgetary institutions with various...

"Despite significant progress in economic reform throughout the 1990s and an exemplary development of the policymaking framework in the second part of the decade, Brazil suffered a major public debt and currency crisis in 2002. Though the political origin of the uncertainty cannot be ignored,...