Globalisation is already a powerful force for poverty reduction as societies and economies around the world are becoming more integrated. Although this international integration presents considerable opportunities for developing countries, it also contains significant risks. Associated with...

Societies and economies around the world are becoming more integrated. Integration is the result of reduced costs of transport, lower trade barriers, faster communication of ideas, rising capital flows, and intensifying pressures for mitigation. Integration--or "globalization"--has generated...

"The authors propose a "bottom up" approach to link public investment programs with a class of macro models recently developed to quantify Strategy Papers for Human Development (SPAHD) in low-income countries. The methodology involves establishing constant-price projections of investment outlays...

"The authors explore the relationship between fiscal rules and capital budgeting. The current budgetary approach to limit deficits to a fixed portion of GDP or to balance budgets could undermine incentives to invest in public capital with long-run returns since politicians concerned about...

This report summarizes the findings of a review of public investment management (PIM) practices in the Western Balkans carried out with an eye to improving practices over the medium term, sharing experiences on a regional basis, providing some initial specific recommendations and identifying...

This note focuses on the second of these reform agendas, and in particular on how the institutional and organizational system for public investment planning and budgeting can be improved. Considerable analytical work has already been done on the macroeconomic and fiscal framework, and the Fiscal...

This report addresses key issues on macroeconomic stability, efficient allocation of public expenditures, public sector staffing, and public finance management. The fiscal sustainability analysis carried out for this report indicates that serious adjustments will be needed to improve Burundi's...