Many low- and middle-income countries lag far behind high-income countries in educational access and student learning. Limited resources mean that policymakers must make tough choices about which investments to make to improve education. Although hundreds of education interventions have been...

Private tutoring is now a major component of the education sector in many developing countries, yet education policy too seldom acknowledges and makes use of it. Various criticisms have been raised against private tutoring, most notably that it exacerbates social inequalities and may even fail...

Measuring the incidence of public spending in education requires an intergenerational framework distinguishing between what current and future generations - that is, parents and children - give and receive. In standard distributional incidence analysis, households are assumed to receive a...

During Vietnam's two decades of rapid economic growth, its fertility rate has fallen sharply at the same time that its educational attainment has risen rapidly -- macro trends that are consistent with the hypothesis of a quantity-quality tradeoff in child-rearing. This paper investigates whether...

This paper describes the serious fiscal crisis faced by cities around the world following the Great Recession of 2008. Five years later, the after-effects of this major crisis continue to be felt and limit economic opportunities in cities. Section 1 summarizes how the crisis was triggered and...

This paper analyzes institutional arrangements for public debt management by reviewing the experience of OECD countries during the late 1980s and 1990s. It discusses principal-agent issues arising from the delegation of authority from the Minister of Finance to the debt management office and...

This paper surveys the recent literature which examines the impact of business climate variables on productivity and growth in developing countries using enterprise surveys. Comparable enterprise surveys today cover some 70,000 firms in over 100 countries around the world. The literature that...

This paper examines historically the World Bank's twin features: lending to developing economies to achieve tangible results and advocating specific development policies. Section 1 provides some conceptual underpinnings for the view that an effective state is essential for development. It asks...

The paper examines the capital structure of regulated infrastructure firms. The authors develop a model showing that leverage, the ratio of liabilities to assets, is lower under high-powered regulation and that firms operating under high-powered regulation make proportionally larger reductions...

The economic recession, the end of stimulus funding and central government cutbacks, rising social costs and aging, and the need for infrastructure upgrading for urbanization are putting enormous fiscal stress on cities. The financing capacity of municipalities is greatly affected because of the...