With a new development framework under way and an increasingly urgent need to address political, socioeconomic and environmental issues on a global scale, this is a critical moment for the international development agenda. Almost 15 years after the Millennium Declaration, a new phase for...

In this paper we document the stylized facts about the relationship between international oil price swings, sovereign risk and macroeconomic performance of oil-exporting economies. We show that even though being a bigger oil producer decreases sovereign risk–because it increases a...