This paper outlines an extension of the Human Capital Index that addresses the specific challenges in education and health faced by countries in Europe and Central Asia. Good basic education will not be enough, as job markets today demand higher levels of human capital than in the past. As the...

Weak institutions ought to deter foreign direction investment (FDI), and mass media stories highlight China's institutional deficiencies, yet China is now one of the world's largest FDI destinations. This incongruity characterizes China's paradoxical growth. Cross-country regressions show that...

An early cross-country, empirical analysis of value-added tax revenues on a sample of 34 countries estimates a model that can be used to predict revenues in countries contemplating the introduction of the VAT. It also confirms conventional wisdom from theoretical and case studies. The key...

The authors show how willingness to pay surveys can be used to gauge household demand for improved network water and sanitation services. They do this by presenting a case-study from Sri Lanka, where they surveyed approximately 1,800 households in 2003. Using multivariate regression, they show...

How does the lack of legitimacy of property rights affect the dynamics of the creation of the rule of law? The authors investigate the demand for the rule of law in post-communist economies after privatization under the assumption that theft is possible, that those who have stolen assets cannot...

Many health care reform proposals expand insurance coverage without fundamentally changing the structure of health insurance. The stay-well plan used in Mendocino County, California, since 1979, offers an alternative insurance structure that provides direct incentives for consumers to control...

School enrollment has universally increased over the past 25 years in low-income countries. However, enrolling in school does not guarantee that children learn. A large share of children in low-income countries learn little, and they complete their primary education lacking even basic reading,...

This paper examines systematically the growth effects of trade integration in Sub-Saharan Africa. It complements and improves upon the empirical literature in two aspects: first, it jointly estimates the impact of different dimensions of trade integration, namely, trade volumes, export/trade...

The climate change challenge and the growth of the Islamic finance industry, together with the increase in socially responsible investing, could position green sukuk as a key instrument for financing clean energy and resilient infrastructure projects as well as shorter-term energy efficiency...

This paper investigates the costs and benefits of concluding double tax treaties with investment hubs. Based on a sample of 41 African economies from 1985-2015, the results suggest that signing treaties with investment hubs is not associated with additional investments; yet, these treaties tend...