Azerbaijan declared its independence in 1991, with the collapse of the USSR. Azerbaijan has entered into the process of economic reconstruction and development after achieving independence. This process is exactly started with the coming to power of Heydar Aliyev. First, political stability...

The recent financial and economic meltdown in Lebanon is the result of 30 years of social, economic, financial and fiscal mismanagement, amplified by the COVID-19 pandemic, and further exacerbated by the Beirut Port explosion. Lebanese citizens’ trust as well as the international community’s...

The economic slow-down of several States in India including Gujarat during the later half of 90s has caused considerable disturbance in the State's fiscal equilibrium. The fiscal deficit has more than doubled during last five years and government's debt has jumped up from 17 percent of GSDP to...

Delays and cost overruns in Public Sector investments can raise the capital-output ratio in the sector and elsewhere, bringing down the efficacy of investments. Yet there are no estimates of the delays and cost overruns, and of their opportunity cost. This study arrives at rough estimates of the...

Andhra Pradesh is one of the pioneering States to earnestly initiate economic and fiscal reform at the Subnational level in India. Prior to the 1996 reform program, the State's budgetary position was under severe stress as in many States in India. The economic growth was below potential,...

This paper provides the first systematic attempt to measure cultural diversity at national and subnational levels. Our measure reflects the degree to which values and beliefs are shared in society and captures a dimension of diversity not previously discussed. We assess the importance of...

Through a review of the literature, this chapter describes observed forms of alternative finance around the world, as well as their roles. It also uses World Bank Survey Data to empirically compare alternative finance development across countries. We find that alternative finance is essential...

This study aims to determine the impact of the Latin American Integrated Market (MILA) start-up in the main indicators of the stock markets of the countries that conform it (Chile, Colombia, and Peru). At the end, several indicators were reviewed to measure the impact on profitability, risk,...

This paper describes the changes in ownership and internationalization of the brokerage firms in Colombia as a result of the regional integration process of its stock exchange market through the Latin American Integrated Market (MILA). It proposes that the integration of stock exchanges...