This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and...

The COVID-19 pandemic has, with alarming speed, dealt a heavy blow to an already-weak global economy, which is expected to slide into its deepest recession since the second world war, despite unprecedented policy support. The global recession would be deeper if countries take longer to bring the...

This report is an output of the Better Regulation for Growth Program between the Dutch Ministry of Foreign Affairs, the UK Department for International Development (DFID) and IC, the Investment Climate Advisory Services of the World Bank Group. The reports identifies a set of minimum...

The purpose of this report is to introduce and present key components of the regulatory governance agenda, and to discuss its relevance for developing countries. The paper identifies failings and knowledge gaps relevant to the implementation of regulatory governance initiatives, and it discusses...

Over the last few years the Standard Cost Model (SCM) has become the regulatory reform tool of choice in European Union (EU) and Organization for Economic Co-operation and Development (OECD) countries for identifying and reducing regulatory compliance costs. SCM provides a relatively simple...

This paper studies the effects of global and domestic inflation shocks on core price inflation in 105 countries between 1970 and 2016, by using a heterogeneous panel vector-autoregressive model. The methodology allows accounting for differences across groups of countries (advanced economies,...

Emerging market and developing economies (EMDEs) have experienced an extraordinary decline in inflation since the early 1970s. After peaking in 1974 at 17.3 percent, inflation in these economies declined to 3.5 percent in 2017. Despite a checkered history of managing inflation among many EMDEs,...

The paper studies the extent of global inflation synchronization using a dynamic factor model in a large set of countries over a half century. The authors' methodology allows them to account for differences across groups of countries (advanced economies and emerging market and developing...