Despite strong evidence of its importance to the welfare of children and societies, early childhood education has been comparatively neglected as a policy priority both before and during the COVID-19 pandemic. This paper seeks to understand what factors have contributed to the lack of priority...

The authors argue that short termism, dollarization, and the use of foreign jurisdictions are endogenous ways of coping with systemic risks prevalent in emerging markets. They represent a symptom at least as much as a problem. These coping mechanisms are jointly determined and the choice of one...

In the aftermath of the global financial crisis, interest in systemic risk has surged among academics and policy makers. The mitigation of systemic risk is now widely accepted as the fundamental underlying concept for the design of the post-crisis regulatory agenda. Effective mitigation requires...

The authors combine the literature on financial crises in emerging markets and developing economies with that on international migrations by investigating whether the increasingly large flows of workers' remittances can help reduce the probability of current account reversals. The rationale for...

Public debt in developing economies rose at a fast clip during 2020-21, at least partly due to the onset of the global Covid-19 pandemic. Nobel laureate Paul Krugman opined in early 2021 that "fighting covid is like fighting a war." This paper argues that the Covid-19 pandemic shares many traits...

Exclusionary policies, such as limits on refugees' movement and the right to work, are often justified as reasons to minimize economic and social tensions with host communities. While these policies have a negative effect on refugees' economic outcomes, their ability to mitigate frictions with...