The role of foreign aid in the growth process of developing countries has been a topic of intense debate. Foreign aid is an important topic given its implications for poverty reduction in developing countries.Since the second World War, foreign aid has been one of the most prominent policy tools...

Global uncertainty shocks are associated with a sharp decline in global inflation, global growth and in the global interest rate. Over 1981 to 2014 global financial uncertainty forecasts 18.26% and 14.95% of the variation in global growth and global inflation respectively. Global uncertainty...

Global uncertainty shocks are associated with a sharp decline in global inflation, global growth and in the global interest rate. Over 1981 to 2014 global financial uncertainty forecasts 18.26% and 14.95% of the variation in global growth and global inflation respectively. Global uncertainty...

More than five years have elapsed since the onset of the Great Recession and to distress of all those affected by the slowdown, a decisive turning point continues to recede into the future. Growth rates are low in the OECD countries (1.25% in 2012-2013) and increasingly sluggish in the...

In this paper, we deal with theoretical propositions and empirical evidence that are needed to explain the paradox of rapid GDP growth in the face of the dismal competitiveness of the Greek economy during 1995-2008. We show how Greece's economy structural weaknesses have hit the domestic economy...

This study investigates transition finance in Lebanon, an upper middle-income country in the MENA region transitioning from a significant adverse shock. Lebanon’s development path has been historically non-linear and, most recently, the Syrian conflict adversely affected the country’s...

In March 2020, shelter-in-place and social-distancing policies have been enforced or recommended all over the world to fight the COVID-19 pandemic. However, strict containment is hardly achievable in low-income countries, as large parts of population are forced to continue income-generating...

Phenomenal increases in food prices in 2007 and 2008 caused governments around the globe to panic. During the chaos which ensued, most developing countries responded to the crisis with a convoluted array of policies intended to stabilize domestic markets, placate consumers and other...

In March 2020, shelter-in-place and social-distancing policies have been enforced or recommended all over the world to fight the COVID-19 pandemic. However, strict containment is hardly achievable in low-income countries, as large parts of population are forced to continue income-generating...

The global downturn caused by the Covid-19 pandemic has the potential to send more than half the nations around the globe into debt distress in the near future. As of this writing, nearly a hundred countries have approached the IMF for assistance. Many, perhaps most, of these countries will need...