In this paper, we consider the reform process in those Central and East European countries that have made the decision to move from a more-or a less-planned socialist system to a private market economy, one in which private ownership predominates and most resources are allocated through markets....

This paper examines issues involving the design and sequence of economic reform in formerly socialist economies that have made the political decision to move to a private market economy. They also examine the potential role of foreign countries in providing aid, technical assistance, and market...

This paper studies the optimal public investment decisions in countries experiencing a resource windfall. To do so, we use an augmented version of the Permanent Income framework with public investment faced with adjustment costs capturing the associated administrative capacity as well as...

Most developing countries intervene extensively in financial markets, setting ceilings on interest rates and spreads and allocating much (often between half and all) of formal credit to"priority"uses. This study reviews interest rate controls and other repressive financial policies on investment...

This paper provides an overview of the history of development research at the World Bank and points to new future directions in both what we research and how we research. Six main messages emerge. First, research and data have long been essential elements of the Bank’s country programs and its...

International Development Association (IDA) donors and others operating a country performance-based allocation system face two difficult problems: how to strengthen incentives to produce and document development results and how to increase flexibility for fragile states. Fragile states have the...

In 2009, commercially exploitable reserves of oil were found in the Albertine Lakes Basin in Uganda. Along with a number of new oil exporters, Uganda now faces the challenge of using the new resources to advance its development agenda, while avoiding the corrosive effects oil often has on...