Indonesia’s growth performance is improving, following a slow recovery from the 1997-98 financial crisis. Investment is picking up, despite considerable business-climate obstacles to entrepreneurship. Unemployment remains high, and labour informality is pervasive. Fiscal policy has been...

This paper reviews Brazil's growth performance over the last quarter of a century and discusses the main determinants of a pick-up in growth since the mid-1990s. Emphasis is placed on the policy pay-offs associated with a consolidation of macroeconomic adjustment, which is a pre-condition for...

The global crisis has left many G20 countries with an unenviable legacy of lower potential output and high government indebtedness. Global imbalances, which had narrowed during the recession, are now beginning to widen again, as the recovery takes hold. Structural reform will be needed not only...