This paper introduces a novel corporate financial vulnerability index that tracks financial conditions of the non-financial corporate sector. Using the balance sheet information of 14,207 listed non-financial firms in 69 emerging markets and developing economies, the index shows that, at the...

This paper uses survey data from 120 developing countries to compare the role of institutions with firm characteristics at the time of creation of the firm in explaining the size, growth, and productivity of firms over their lifecycle. The study finds that firm-level characteristics have...

Using the universe of all externally issued bonds by corporates and sovereigns in emerging and developing economies during 2000-14, this paper analyzes various issuance trends, including the unprecedented post-crisis surge. The paper focuses on external issuance at the country-industry and...

This paper develops a multi-sector, small open economy Dynamic Stochastic General Equilibrium model, which includes the accumulation of human capital, built via public expenditures in education and health. Four possible fiscal rules are examined for total public investment in infrastructure,...

Antipoverty policies in developing countries often assume that targeting poor households will be reasonably effective in reaching poor individuals. This paper questions this assumption, using nutritional status as a proxy for individual poverty. The comprehensive assessment for Sub-Saharan...

This paper investigates the effect of access to finance on job growth in 50,000 firms across 70 eveloping countries. Using the introduction of credit bureaus as an exogenous shock to the supply of credit, the paper finds that increased access to finance results in higher employment growth,...