This study has evaluated the General and Sector Budget Support operations undertaken in Tanzania from 2005/06 to 2011/12. These operations amount to a resource transfer of almost US$5,000 million - an annual average disbursement of US$ 694 million, some $16 per annum per head of the Tanzanian...

The period covered by the evaluation, 1996-2007, was a time of political-military crises and worsening poverty and insecurity for the Central African Republic. This continued the trend which started immediately after Independence and which led the Central African Republic into a situation of...

This report presents the results of the evaluation of the European Communityu0092s support to private sector development (PSD) in third countries over the period 1994-2003. It aims to contribute to improving the coherence of the Commissionu0092s sectoral approach and also at enhancing coherence...

This Country Focus discusses the relation between public investment and economic growth in Poland. Theoretical and empirical work has shown that improvements in the quantity and quality of public infrastructure have a positive impact on growth in the medium and, possibly, in the long run. The...

Following several years of low growth Germany is presently enjoying a relatively strong recovery. With unemployment falling at record speed and fiscal consolidation progressing, the upswing is set to continue in spite of uncertainties surrounding the VAT increase of January 2007. This Country...

The Czech financial sector has changed dramatically since transition. In fifteen years, it has developed from a state-owned mono-bank into a privatised bank-based financial system with developing capital and private equity markets. This country focus analyses the development of the financial...

This paper examines the properties of G-7 cycles using a multicountry Bayesian panel VAR model with time variations, unit specific dynamics and cross country interdependences. We demonstrate the presence of a significant world cycle and show that country specific indicators play a much smaller...

This paper presents new evidence on the social returns to education within a macroeconomic growth regression framework. I use improved schooling data and a macro version of the Mincer relationship between education and wages for individual workers. The results suggest that an increase by one...

This paper extends the analysis of infinite dimensional vector autoregressive models (IVAR) proposed in Chudik and Pesaran (2010) to the case where one of the variables or the cross section units in the IVAR model is dominant or pervasive. This extension is not straightforward and involves...