Intro -- Contents -- Part 1: What, Why and How? -- Section 1: What Do We Mean by Economic Complexity? -- Section 2: How Do We Measure Economic Complexity? -- Section 3: Why Is Economic Complexity Important? -- Section 4: How Is Complexity Different from Other Approaches? -- Section 5: How Does...

Recent financial crises and contagion call into question the wisdom of capital account liberalization. There is consensus that something is terribly wrong in the way international financial markets work for developing countries and that fixing is urgent. But what is wrong? Most views in...

This paper considers ongoing and proposed reforms of the international financial system in light of Latin America`s recent experience. Most proposals are based on one of three diagnoses: excessive capital flows, insufficient capital flows, and excessively volatile capital flows. While theories...

Countries that are classified as having floating exchange rate systems (or very wide bands) show strikingly different patterns of behavior. They hold very different levels of international reserves and allow very different volatilities in the movements of the exchange rate relative to the...

Our review of the main proposals on international financial architecture currently under consideration gives reasons for concern that excessive emphasis on improving stability by impeding capital flows will have a deleterious development impact. Sustainable development requires initiatives...