The experience of the EFSD in the last 10 years has raised important questions about the developmental role an RFA could play for low income or less-developed countries. Even though other RFAs do not have a development mandate, the EFSD’s operational model inspires the RFAs to reflect on their...

"India's surge in high, well-sustained economic growth captured the world's attention for much of the period from the 1990s to the early 2010s. Often paired with China as being at the leading edge of emerging economies, the last few years have witnessed shortfalls in India's performance, which...

Evsey Domar put forward in a couple of articles in the 1940s a "guaranteed income growth proposal." For the first time in macroeconomics, economic policy was supposed to work merely through the impact of its announcement on expectations. He claimed that optimistic expectations of income growth...

Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as 'hysteresis,' argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and...

The German economy remains robust in a difficult international climate. In the current year, we expect GDP to increase by 2 per cent. That represents a reduction of 0.2 percentage points from our earlier forecast, mainly due to a slowdown in exports caused by sluggish growth in foreign markets...