This paper takes a hard look at the experience with official intervention in sovereign debt crises, focusing on debt crises of the 1980s, Russia in 1998, Argentina in 2001, and Greece in 2010. Based on the track record, the authors argue that in situations where countries face a solvency...

Debt vulnerabilities in low-income countries have increased substantially in recent years. Since 2013, median government debt has risen by about 20 percentage points of gross domestic product and increasingly comes from non-concessional and private sources. As a result, in most low-income...

This paper assesses the extent to which debt overhang poses a constraint to economic activity in Emerging Europe, as the region emerges from the recent financial and economic crisis. At the macroeconomic level, it finds that the external imbalance problem for Emerging Europe has been in most...

This paper contributes to better understanding firms' discriminatory behavior in the presence of gender-based legal discrimination and its linkages with labor market outcomes for women in a developing country setting. Using data collected through the World Bank Enterprise Surveys in the...

Community-driven development programs are a popular model for service delivery and socioeconomic development, especially in countries reeling from civil strife. Despite their popularity, the evidence on their impact is mixed at best. Most studies thus far are based on data collected during, or...

Small-scale cross-border trade provides opportunities for economic gains in many developing countries. Yet cross-border traders—many of whom are women—face harassment and corruption, which can undermine these potential gains. This paper presents evidence from a randomized controlled trial of...

The paper provides evidence on the number and volume of financial transactions undertaken by agents (local businesses that double as more convenient, lower cost alternatives to formal branches) of the largest microfinance institution operating in the Democratic Republic of Congo. More important...

The adoption of the value-added tax the Democratic Republic of Congo in 2012 led to price increases that are thought to adversely affect the welfare of most Congolese households. To date, research has not yet examined the poverty and distributional impacts of this tax reform. Using data from the...

Using unique direct observations of patient-provider interactions linked to patient exit interviews and detailed household surveys, this paper assesses the relationship between patient wealth and the quality and price of antenatal care in the Democratic Republic of Congo. Overall, the analysis...

How should resource-dependent countries respond (fiscally) to resource price volatility? This paper studies what determines revenue allocation between a "spend today" strategy and a "save now-spend tomorrow" approach in the context of the Democratic Republic of Congo (DRC). It uses a...