This paper explores implications of climate change for fiscal policy by assessing the impact of large scale extreme weather events on changes in public budgets. We apply alternative measures for large scale extreme weather events and conclude that the budgetary impact of such events ranges...

The rise of China as an economic and political driver of the global economy is likely to be one of the defining moments of world history. Its dynamism and international expansion are on the verge of creating a critical disruption in the global order that has held sway for over 60 years. As such,...

The current climate change crisis has repeatedly alerted mankind to the urgency of tackling this pressing global challenge before it is too late. Developing countries, which have contributed negligibly to the present climate change problem are, nevertheless, hit the hardest by, and are most...

The paper considers the experience of the European Investment Bank and addresses policy lessons for developing countries as they seek finance for development. The paper argues that the key lesson for developing countries is that the traditional role of a development bank in closing market gaps...

The class and social structure of developing nations has undergone profound transformation in recent decades as each nation has incorporated into an increasingly integrated global production and financial system. National elites have experienced a new fractionation. Emergent...

The rise of China as an economic and political "driver" of the global economy is likely to be one of the defining moments of world history. Its dynamism and international expansion are on the verge of creating a "critical disruption" in the global order that has held sway for over 60 years. As...

We examine how donor government ideology influences the composition of foreign aid flows. We use data for 23 OECD countries over the period 1960]2009 and distinguish between multilateral and bilateral aid, grants and loans, recipient characteristics such as income and political institutions,...

The paper considers the experience of the European Investment Bank and addresses policy lessons for developing countries as they seek finance for development. The paper argues that the key lesson for developing countries is that the traditional role of a development bank in closing market gaps...

To date, government procurement has been effectively carved out of the main multilateral rules of the WTO system. This paper examines the systemic and other ramifications of this exclusion, from both an economic and a legal point of view. In addition to relevant elements of the WTO Agreements,...

This paper documents that developing countries with opaque institutions receive procyclical development aid and procyclical promises of future aid while developing countries with transparent institutions receive countercyclical aid. It provides a dynamic equilibrium model of optimal aid policy...