"The authors analyze the role of international technological diffusion for firm-level technological innovations in several developing countries. Their findings show that, after controlling for firm, industry, and country characteristics, exporting and importing activities are important channels...

"This paper relaxes some key assumptions in the probabilistic approach to fiscal sustainability. First, the authors identify structural breaks over the sample period used to estimate the covariance matrix of the shocks to the debt ratios. Second, the assumption of normality of the shocks is...

"Despite significant progress in economic reform throughout the 1990s and an exemplary development of the policymaking framework in the second part of the decade, Brazil suffered a major public debt and currency crisis in 2002. Though the political origin of the uncertainty cannot be ignored,...

"Greece and Italy initiated efforts to improve public debt management and develop their domestic debt markets respectively in the late 1970s and mid-1980s. At that time, both countries suffered from large and rapidly growing public debt, excessive reliance on short-term bills held by commercial...

In 1994-98, Brazil's domestic debt grew very rapidly while remaining short in maturity. The main policy recommendations for managing this domestic debt situation: maintain a tighter fiscal stance and consider the use of inflation-linked bonds