This paper studies the role of public policy in promoting industrial transformation from an imitationbased, low-skill economy to an innovation-based, high-skill economy, where technological progress now occurs through the domestic invention of ideas. Industrial transformation is measured by...

Levels of economic development vary widely within countries in the Americas. This paper argues that part of this variation has its roots in the colonial era. Colonizers engaged in different economic activities in different regions of a country, depending on local conditions. Some activities were...

This paper investigates the relationship between mining and spatial inequality in Africa during 2001-12. The identification strategy is based on a unilateral causation between mining and district inequality. The findings show that when minerals are aggregated, mining increases district...

The 2009 global recession demonstrated, once again, the importance of crisis prevention as well as the critical need for preserving policy room so that emerging market and developing economies (EMDEs) can act when their economies are hit by shocks. And now, with the global growth outlook still...

This paper examines the state of reverse mortgage markets in selected countries around the world and considers the potential benefits and risks of these products from a financial inclusion and economic benefit standpoint. Despite potentially increasing demand from aging societies -- combined...

Developing countries made considerable gains during the first decade of the 21st century. Their economies grew at unprecedented rates, resulting in large reduction in extreme poverty and a significant expansion of the middle class. But more recently that progress has slowed with an economic...

Two long-established stylized facts in the urban and development economics literatures are that: (a) a country's level of economic development is strongly positively correlated with its level of urbanization; and (b) a country's level of urbanization is strongly negatively correlated with the...

This study presents a novel set of indicators on outcomes of foreign direct investment spanning 63 developing countries and 10 areas that matter for development. Building on decade-long data collection by the World Bank Enterprise Surveys, the indicators highlight systematic differences between...

This paper reviews the evidence on the importance of human capital for macro-economic development. Through the lens of a simple aggregate production function, human capital might increase output per capita by directly entering in the production process, incentivising the accumulation of...

The objective of this paper is to study the evolution of the incidence and profile of nonstandard workers in selected countries in Latin America and the Caribbean and Europe and Central Asia in the past two decades. The analysis of the profile of this group of workers focuses on three key...