Central America has received growing attention as a region that is integrating successfully into the global economy. This paper examines—among other things—the macroeconomic and fiscal implications of the Free Trade Agreement with the United States (CAFTA-DR), noting that the...

This paper presents the primary institutions and economic policies that have led to Chile’s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...

This Selected Issues paper assesses the impact of Vietnam’s World Trade Organization (WTO) accession. It describes the main terms of Vietnam’s accession as regards trade in goods and services, and uses a partial equilibrium simulation model to estimate the likely impact of WTO...

This Selected Issues paper for Nicaragua reports that the Central America–Dominican Republic-United States Free Trade Agreement (CAFTA-DR) provides a general framework for country-specific bilateral agreements. In addition to the phased liberalization of trade in goods, CAFTA-DR provides...

Are there benefits to the host country from multinational investments? Does potential value from these investments make active industrial policy worthwhile? We answer the first question affirmatively, having reviewed economic principles and evidence concerning the effects of projects locating in...

This presentation discusses a series of measures and actions to help explain the impact of governance on the behavior of global value chains. The topics include: 1) Supplier-led industrial upgrading strategies; 2) New constraints by global suppliers in industries that have already globalized; and...

Intensifying competition and changing customer demands for better and cheaper goods and services, and faster delivery have made the organisational systems of Global Value Chains (GVCs) more complex and difficult to manage and coordinate. Leading enterprises in GVCs were forced to focus on their...

Intensifying competition and changing customer demands for better and cheaper goods and services, and faster delivery have made the organisational systems of Global Value Chains (GVCs) more complex and difficult to manage and coordinate. Leading enterprises in GVCs were forced to focus on their...

Germany’s economic growth and recovery from the global crisis are explained in this study. Tax, education, and innovation policies are specific measures supported by the authorities. External and financial shocks received by Germany and other outward spillovers are outlined. Germany has a...