Concerns about corporate governance standards have often centred on emerging markets, notably after the 1997-98 Asian crisis. A series of corporate scandals have now raised investor concerns over the quality of earnings and opaque balance sheet structures in the US and other developed countries....

Over recent years, a number of emerging creditors have increased their aid and lending to Africa’s Low-Income Countries (LICs). This has fed worries that new official lenders may be undoing years of international efforts to rein in over-indebtedness in Africa, to reduce the continent’s...

This paper reports on the construction of an Input-Output table for the economy of Morocco. The table is calibrated to the year 1990 and details the interactions between 133 primary, manufacturing, and service sectors, relying on a combination of a more aggregate table estimated by the Moroccan...

Investment in most heavily indebted countries has been weak since 1982. The widely accepted debt overhang proposition interprets the investment drop as a moral hazard problem: a heavy debt burden raises the incentive to consume, because the marginal benefit of investment would go to the...

The practice of environmental regulation and assessment in developing countries faces many special challenges. Apart from popular misconceptions about negative links between environmentalism and economic growth, there are numerous practical limitations to appraising environmental conditions and...

Large current account deficits are often assumed to play an important role in the propagation of financial crises in emerging markets in receipt of heavy private capital inflows. This paper reaches some major conclusions. <I>First</I>, the Lawson Doctrine — according to which current account deficits...</i>

How and to what extent can a high degree of global financial integration help the fast-ageing OECD benefit from the delayed ageing process in the non-OECD area? The question is being raised with increasing urgency as it is slowly understood that even fully funded pension schemes will not escape...

The environmental implications of international trade have come under intensified scrutiny in recent years, particularly with expanded interest in multilateralism, regionalism, and other negotiated trade regimes. The transfer of environmental effects, both positive and negative, is embodied in...

The so-called “accession economies” preparing to enter the European Union are experiencing increased inward capital flows based upon positive interest spreads and expectations of currency appreciation. While the authorities of these countries have tried to manage these flows and to prevent...

The present level of ODA falls short of the amount needed to finance the <I>Millennium Development Goals</I> (MDGs). The figure of additional $50 billion per year, roughly the present total of ODA spent by DAC donors, is often quoted (e.g. by the Zedillo Report); it results from the sum of the fight...</i>