The increased importance of finance is the main characteristic of the current capitalist system. At the international level, the increase in cross-border financial transactions signals what has been called ?financial globalisation? or ?international financialisation?. The rise of this system is...

Inclusive growth has become a central concern in the development literature and in policymaking in many countries. However, the literature presents several different definitions of inclusive growth, which do not converge to a consensus on the concept, let alone one on how to operationalise it...

Since its emergence around the turn of the century the concept of inclusive growth has been substantially debated by researchers and practitioners, has increasingly gained space in domestic and international political circles, has inspired the design of and generated projects and policies, and...

The concept of inclusive growth has been broadly used in the last decade to indicate a growth strategy or result that involves both sharing the benefits of and participation in the economic process (see Ranieri and Ramos, 2013). Despite the broad reference to this concept in policy analysis and...

When the International Monetary Fund (IMF) was created, its purpose was to support the new system of fixed exchange rate regimes. With the breakdown of the par-value system, its article on exchange-rate arrangements?Article IV?had to be revised. Per the revised version, the IMF would annually...

The paper on which this One Pager is based (Roy, Abu-Ismail and Ramos, 2011) suggests concrete policy options which would create the fiscal space needed for structural transformation. After analysing the fiscal constraints faced by different countries and country groupings in the region, the...

When the International Monetary Fund (IMF) was created during the United Nations Monetary and Financial Conference in 1944, its purpose was ?to provide a framework that facilitates the exchange of goods, services, and capital among countries, and that sustains sound economic growth.? In that...

The fundamental development challenge in the Arab region is one of economic transformation or, more pertinent, a lack thereof. Heavy sectoral weights of extractive industries lead to dependence on global oil prices, even in oil-producing countries. The structure of production limits employment...

Several developing countries have adopted a free floating exchange rate regime in recent years, especially after the late-1990s currency crisis. This regime is being advocated based on the argument that it would smooth domestic and international shocks and allow monetary policy independence....