This paper identifies the rationale behind the emergence of private sector development (PSD) as a special area of development assistance. It describes PSD policies’ main elements and instruments and provides an overview of the differences and similarities between the PSD activities of...

Does official aid pave the road for private foreign investment or does it suffocate private initiative by diverting resources towards unproductive activities? In this paper we explore this question using data for a large number of developing and emerging economies. Controlling for countries'...

We explore whether foreign aid affects developing countries' creditworthiness, as proxied by the Institutional Investor's measure of country credit risk. Based on a simple model of international borrowing and lending, we develop the hypothesis that current aid reduces the likelihood of future...

In the 1990s, the CIS region experienced a painful transformation following the collapse of the USSR and the command economy. For the less developed republics of the former USSR, this process was even more dramatic as they lost subsidies from the Union's budget and some of them suffered...

Climate change has a severe impact on the livelihoods and economies of developing countries and will constrain achievement of the Sustainable Development Goals on virtually all fronts. While efforts to reduce emissions are obviously vital, it is equally critical that societies adapt to the...

The world is currently at an ebb for realizing the Right to Development (RtD). Weakening of multilateralism, de-globalization, the scars left by the COVID-19 pandemic, misinterpretation and dilution of the RtD, and inertia to reform international governance are among the multitude of reasons for...