This paper discusses the need for a Bank subnational development strategy. The subnational development strategy provides the Bank with a comprehensive framework to support borrowing member countries in their efforts to promote socioeconomic development through the devolution of responsibilities...

This report examines the quality of public policies in Latin America and the Caribbean after more than a decade of political and economic reform. A wide variety of examples and case studies are presented in an analytical framework to help explain why policies that work in certain institutional...

This paper explores, both formally and empirically, the political accountability mechanisms that lie behind the varying levels of public corruption and of effective governance taking place across nations. The first section develops a principal-agent model in which good governance is a function...

The paper reviews the case for a strong multilateral response to the global crisis in emerging markets (EMs). It discusses modalities and feasibility of intervention and its associated risks, depending on country circumstances of fiscal space and liquidity needs. The specific role of...

Intended as a contribution to the discussion of the relevance of social capital and social cohesion to Latin American development, this paper treats the two as assets for development and the creation of welfare. The paper defines the concepts, including their uses and limitations, and analyzes...

This is the data used for the estimation of the GVAR model as in "China's Emergence in the World Economy and Business Cycles in Latin America" (access the study in the related URL Section). The dataset includes quarterly data for twenty-five major advanced and emerging economies plus the euro...

This report details the divergent paths that the world economy may take and their potential effects on Latin America and the Caribbean. Scenarios are constructed employing a modeling exercise that captures the trade, financial and other linkages between the region and the rest of the world....

This report focuses on the region's macroeconomic performance in the context of an unusually sharp and rapid deterioration in external conditions. To assess policy options, the report develops a framework to identify the critical trade-offs faced by countries in the region, and evaluates these...

High government debts, weak economic growth, vulnerability to external shocks and the design of sound fiscal consolidation strategies are among the most critical issues that some of the Caribbean countries have currently to deal with. Stabilization programs may harm economic growth but, under...