This paper puts forward a strategy for achieving two objectives in higher education –improved access and increased quality – about which there is unanimous agreement.[...]

This paper analyzes the theoretical underpinnings of high-frequency repayment, a featurein nearly all microfi…nance contracts that has been largely overlooked by theorists. The pervasive belief among practitioners that frequent repayment is critical in achieving high repaymentrates is puzzling....

In naher Zukunft werden rund 1,5 Millionen Studierende in DeutschlandStudiengebühren entrichten müssen, da mittlerweile acht Bundesländer deren Erhebungbeschlossen haben. Die Bundesländer sind – nach einer Entscheidung des Bundesverfassungsgerichts– bei Erhebung von Studiengebühren zur...

This paper analyzes the association between aggregate default and recovery rates on credit assets, and seeks to empirically explain this critical relationship. We examine recovery rates on corporate bond defaults, over the period 1982-2002.(...)

Prudent macroeconomic policies helped Turkey to achieve economic growth under the Stand-By Arrangement. Executive Directors welcomed this development and stressed the need to widen the account deficit. They emphasized the need of a strong budget, powerful monetary and fiscal policies, and...

This 2013 Article IV Consultation highlights that Sierra Leone has made significant progress in macroeconomic stabilization over the last five years. Real GDP growth averaged some 7 percent, driven by output expansion in agriculture, mining, and services; as well as the scaling-up of...

This paper reviews the Central African Republic’s three-year arrangement under the poverty reduction and growth facility. Concerns about the social impact of higher fuel prices have delayed implementation of an automatic pricing formula and caused serious fiscal losses. The new financing...

This 2006 Article IV Consultation highlights that Georgia’s economy has performed well over the last two years, and the fiscal turnaround has been impressive. Since the change in government in late 2003, Georgia has demonstrated strong fiscal performance and a renewed commitment to press...

This 2013 Article IV Consultation highlights that the Turkish economy achieved a welcome reduction of imbalances in 2012. In 2013, growth has accelerated significantly on the back of a monetary and fiscal policy stimulus. The economy is projected to expand by 3.8 percent this year, with private...