There are ongoing academic and public debates on the nature of China's Belt and Road Initiative (BRI). While some observers hold that the BRI is primarily about economic development, others see it as a grand strategy of a great power with hegemonic aspirations. Is the BRI about development or...

This paper combines local election results and geo-referenced road construction data over 1993-2012 to investigate political bias in road infrastructure investment in a democratic setting, focusing on the case of Mexico. Using a regression discontinuity design, the paper finds strong evidence of...

Investment growth in emerging market and developing economies has slowed sharply since 2010. This paper presents a comprehensive analysis of the causes and implications of this slowdown and presents a menu of policy responses to improve investment growth. It reports four main results. First, the...