The recent boom and bust in commodity prices has renewed the policymakers' interest in three complementary issues: i) characteristics and determinants of commodity price instability, ii) its macroeconomic effects and, iii) the optimal policy responses to this instability. This work falls within...

The recent boom and bust in commodity prices has renewed the policymakers' interest in three complementary issues: i) characteristics and determinants of commodity price instability, ii) its macroeconomic effects and, iii) the optimal policy responses to this instability. This work falls within...

The recent boom and bust in commodity prices has renewed the policymakers' interest in three complementary issues: i) characteristics and determinants of commodity price instability, ii) its macroeconomic effects and, iii) the optimal policy responses to this instability. This work falls within...

L'Ukraine et la Biélorussie ont été touchées par la crise financière internationale depuis l'automne 2008. Ces deux économies en transition sont relativement proches en termes de structure productive, mais l'Ukraine est plus ouverte financièrement. Une première analyse suggère pourtant...

Following a series of debt cancellations, the public debt of many developing countries has reached low levels. These countries are being urged to extent public spending to reach The Millennium Development Goals (MDGs), but can not exclusively rely on external financing. Consequently, is an...

Developing countries are being urged to extent public spending to reach The Millennium Development Goals (MDGs). Following a series of debt cancellations, the public debt of many developing countries has reached low levels, so that external borrowing is a plausible option. However, developing...

L'objectif de l'étude est d'analyser la relation entre l'aide au développement et le prélèvement public. Il s'agit de d'évaluer si l'aide incite les pays receveurs à réduire leur taux de prélèvement, autrement dit s'il existe en effet d'éviction des recettes publiques par l'aide...

This paper establishes a link between deforestation and credit cycles in Latin American countries. The latter exhibit rapid deforestation rates as well as macroeconomic instability that is often rooted in credit booms and crunches episodes: data available on the last years show a coincidence...

The endogenous growth literature has established the existence of an inverted-U curve between taxes and economic growth, namely a Growth Laffer Curve (GLC). We develop a growth model with public investment as the engine of perpetual growth, and look for the effect of deficit, tax and money...

This paper focuses on the sources and consequences of the instability of tax revenue in Sub-Saharan African countries. We take advantage of a unique and extraordinarily rich dataset on the composition of tax revenues for a large number of countries. Using panel data for 39 countries observed...