This World Bank Discussion Paper brings together two contributions on external debt issues. The first paper discusses the insurability of sovereign debt against default. The second paper reviews numerous studies that have been conducted over the years to identify the variables that could predict...

This paper presents a framework for evaluating the level and composition of public expenditures, illustrated by sectoral and country examples.

Political risk remains the top preoccupation for foreign investors operating in developing countries over the next three years, in spite of persistent concerns over the global downturn in the short term. The global economic recession triggered by the financial crisis that has unfolded over the...

This report has been accepted as a key input to Cambodia's private sector development strategy following extensive consultations with the Royal Government of Cambodia, its development partners, and the private sector. It was prepared to help these stakeholders identify and prioritize policy...

The exit of the United Kingdom from the European Union (Brexit) may have a negative impact on trade and investment flows not just for the UK, but also for the countries with the largest exposure to the UK. The indirect impact of a Brexit-induced recession in the UK -may also be felt in the EU...

Myanmar's macroeconomic environment remains stable, though economic growth is estimated to have slowed to 5.9 percent in 2016-17 compared to 7 percent in 2015-16, weighed down by slower investment demand. Growth is projected to recover to 6.4 percent in 2017-18, though risks are tilted to the...

Overall, the investment climate seems to have deteriorated in Lao PDR between 2012 and 2016. In the 2012 survey, not one area of the investment climate was identified as a serious problem by more than 20 percent of firms. In the 2016 survey, there were six areas where more than 20 percent of...

Over the last two decades, successive governments and business leaders in the former Yugoslav Republic of (FYR) Macedonia have been actively working to transform the country's economy and put it on a higher, technology-based, growth trajectory. For a small, landlocked country with a limited...