Although accommodative policies and widespread indexation may account for the persistence of high inflation, they cannot explain changes in the inflation rate. This paper examines the causes of such changes for the high-inflation episodes immediately preceding the recent “heterodox” attempts...

BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era. We investigate the potential implications on the country-allocation of loan commitments and the degree of concessionality using a panel vector autoregression model and...

"The question of why countries give aid and assistance to other countries has long been a topic of debate- is it altruism, or selfishness? The assumption is sometimes made that donors from developing countries might be more motivated by altruism than 'traditional' western donors. This book...