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...

Informal employment is a widespread phenomenon in Romania and a key challenge for the country’s development. Policies should target two distinct groups: those who voluntarily opt out of the formal system and those with no alternative. Transforming people’s attitudes towards the state and...

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

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...

The effects of migration on development depends on who leaves, where they go, and how home countries adjust to their leaving. Migration and development policies are comlements, not substitutes. Smart visa policies, coupled with capacity building at home can maximise the positive impact of migration

Bond financing has replaced bank loans and other sources of capital flows as a major source of funding for emerging markets. This shift has been particularly impressive in Latin America. Disentangling the dynamics of emerging bond markets and the information flow about them has attracted the...