Equilibrium real exchange rate provides useful information on the harmonisation of convergence criteria with exchange rate stability criteria; a requirement for accession to the European Monetary Union. This study applies econometric procedures for identifying the equilibrium real exchange rate...

As regards the performance required for the development of the knowledge-based society, we view industrial property as an important level in this context. Therefore, in this paper we present (on a comparative basis) the system of industrial property rights and their protection in the European...

Often, it has been observed that telecommunication infrastructure development and economic growth proceed together. While this relationship has been studied in the context of developed (OECD) countries, in this study, we investigate this simultaneous relationship between telecommunications and...

In this paper, we look at the scale and scope of emerging donors, many of which are developing economies themselves. On the basis of a survey of the literature, we find that estimates of annual aid flows from new donors (so-called non-DAC donors) vary greatly and are somewhere between $11...

Much of the data underlying global poverty and inequality estimates is not in the public domain, but can be accessed in small pieces using the World Bank’s PovcalNet online tool. To overcome these limitations and reproduce this database in a format more useful to researchers, we ran...

This paper applies a new approach to the estimation of the impact of policy, both the levels and the changes, on wage differentials using a new high-quality data set on wage differentials by schooling level for 18 Latin American countries for the period 1977-1998. The results indicate that...

This study examines the saving behavior of 18 Latin American countries in the 1976-2000 period compared to a group of 25 other middle-income developing countries. Over this period, Latin American saving rates have been consistently below the comparison group, despite extensive economic reforms...

The US government’s proposed $5 billion Millennium Challenge Account (MCA) could provide upwards of $250-$300m or more per year per country in new development assistance to a small number of poor countries judged to have relatively “good” policies and institutions. Could this assistance be...

Empirical evidence shows that sovereign defaults are associated with significant downturns in economic activity in defaulting countries. However, the existing literature on sovereign debt and default mainly analyzes endowment economies and, therefore, does not address the relationship between...

Foreign banks' lending to firms in emerging market economies (EMEs) is large and denominated primarily in U.S. dollars. This creates a direct connection between U.S. monetary policy and EME credit cycles. We estimate that over a typical U.S. monetary easing cycle, EME borrowers face a...