Using a central bank legislation database, this paper documents and analyzes worldwide institutional arrangements for central bank lending to the government and identifies international practices. Key findings are: (i) in most advanced countries, central banks do not finance government...

This paper addresses analytical aspects of exchange rate policy and emphasizes the relationship among exchange rate flexibility, financial discipline, and international competitiveness.

Economic performance in many emerging market and developing economies (EMDEs) improved substantially over the past twenty years. The past decade was particularly good—for the first time EMDEs spent more time in expansion and had smaller downturns thanadvanced economies. In this paper we...

ILO pub-WEP pub. Working paper examining the impact of petroleum prices on balance of payments, employment, choice of technology and real incomes in Kenya - discusses power supply, power consumption, inflation and growth rate, failures in reducing import dependence and making effective...