Over the last five years, most Latin American governments have made considerable strides in managing the composition of their public debt, while reducing their foreign-currency exposure. Issuing public debt in local currency is not new for Latin America; what is new, however, is the widespread...

The idea of local “ownership” of development policies is now popular among the donor community, but without a reduction of conditionality on aid disbursements, enhanced ownership will be difficult to achieve. While there are still strong reasons for attaching certain kinds of conditionality...

While the overall picture for gender equality is still gloomy, recent changes in family institutions in come countries provide an enlightening example.

During the 1990s and the 2000s a variety of crises affected the stability of international capital markets: from the European Monetary System crisis in 1992-93 and the emerging market crises to today’s financial crisis have been present in the arenas of capital markets. These crises stimulated...

Informal employment persists, even when the economy is growing. Understanding the phenomenon is necessary to “tame the beast” of informality. Coherent policies are needed to create decent jobs and provide social protection

Sustainable development requires well co-ordinated and functioning formal and informal institutions. In developing countries, courts, regulations and formal conventions are often observed in the breach or fail to function. By default, informal institutions – tradition, culture, family...

The financing of health care is a major challenge for developing countries, especially since deficiencies in national health systems specifically harm the poor. Innovative financing mechanisms, such as private health insurance, offer benefits and risks. Their implementation requires caution on...

Decentralising health services – the transfer of power and responsibility from the central to the local level – should help the poor if local resources, accountability and governance are in good shape. The process in China and India had negative effects because local governments remained...

Are the financial markets politically correct? In other words, do they have preferences when it comes to political regimes or partisans? This issue has often been explored with regard to foreign direct investment (FDI) or public development aid, but rarely in relation to portfolio flows in...

Foreign direct investment (FDI) has been one of the principal beneficiaries of the liberalisation of capital flows over recent decades, and now constitutes the major form of capital inflow for many developing countries, including low-income ones like Chad, Mauritania, Sudan and Zambia. But while...