"With more than 20 percent, Switzerland is one of the countries with the largest foreign population. Since 1970 the government has tried to manage the flows of migrants in the hope of reconciling a chronic excess demand for labor with mounting pressures from nationalistic groups to control the...

"Its highly fragmented structure of local governments and serious horizontal fiscal imbalances make Switzerland a surprisingly powerful model for Eastern European countries that are currently facing the challenge of fiscal decentralization. In spite of the substantial differences in the...

The report focuses on the social safety net, particularly cash and in-kind transfers. The safety net can play an important role in addressing poverty and vulnerability; however, the process by which the safety nets have been developed in Swaziland has produced a fragmented system that leaves...

"This paper studies the relation between institutional investors and capital market development by analyzing unique data on monthly asset-level portfolio allocations of Chilean pension funds between 1995 and 2005. The results depict pension funds as large and important institutional investors...

"This paper argues that the dominant policy paradigm on financial development is increasingly insufficient to address big emerging issues that are particularly relevant for financial systems in Latin America. This paradigm was shaped over the past decades by a fundamental shift in thinking...

"This paper reviews the evidence on the importance of finance for economic well-being, provides data on the degree of use of basic financial services by households and firms across a sample of countries, assesses the desirability of more universal access, and overviews the macroeconomic, legal,...