This paper develops a multi-sector, small open economy Dynamic Stochastic General Equilibrium model, which includes the accumulation of human capital, built via public expenditures in education and health. Four possible fiscal rules are examined for total public investment in infrastructure,...

Estimates of total factor productivity growth, a measure of increases in the efficiency of production, have traditionally been based on a two-factor model of labor and fixed capital. Because profits are measured residually in the System of National Accounts, they implicitly include rents on...

This paper revisits the issue of environment and development raised in the 1992 World Development Report, with new analysis tools and data. The paper discusses inference and interpretation in a machine learning framework. The results suggest that production gradually favors conserving the...

By reducing the costs of environmental protection, technological change is important for promoting green growth. This entails both the creation of new technologies and more widespread deployment of existing green technologies. This paper reviews the literature on environmentally friendly...

Despite a world awash with liquidity, large infrastructure supply gaps exist across developing and emerging markets. Infrastructure has been largely decentralized to subnational governments in many countries, and many policymakers are keenly interested in developing subnational bond markets to...

Professional civil service recruitment is a core component of governance for development, as it is necessary for ensuring the capacity of civil servants, service delivery, fiscal sustainability, and proper salary management. Through an ambitious mixed method approach, this study seeks to provide...