With India''s GDP expanding at a rate above 8 percent in recent years, the debate about whether India is overheating revolves mainly about whether growth is above potential-that is, whether the economy is exceeding its ""speed limit."" This paper attempts to shed light on this debate by...

The role of remittances in development and economic growth is not well understood. This is partly because the literatures on the causes and effects of remittances remain separate. We develop a framework that links the motivation for remittances with their effect on economic activity. Because...

Germany has been a central player in discussions on the future architecture of Europe, and has been called on to play a larger role in supporting global and, especially, European recovery from the financial crisis that triggered the Great Recession. This book focuses on the possible economic...

Growth in sub-Saharan Africa has recently shown signs of improvement, but is still short of levels needed to attain the Millennium Development Goals. Economists have placed increasing emphasis on understanding the policies that promote sustained jumps in medium-term growth, and the paper applies...

This paper discusses the significant overall progress with macro stabilization of these transition countries during 1992-1997. While average inflation declined steadily since 1992, output fell significantly for many of these countries during this period, and it was not unti 1996-97 that as a...

Since attaining independence in 1965 Singapore has experienced exceptionally rapid growth, low inflation, and a healthy balance of payments. This paper reviews Singapore's economic development from a long-term perspective and examines some of the factors that have contributed to the sustained...

This Selected Issues paper analyzes the developments and determinants of inflation in Romania, and reviews the salient trends in public finance. The study describes the monetary policy issues and the improvements required to clean up the financial sector. The paper chronicles the...

The global economic recovery is progressing better than expected, but the speed of recovery varies, as outlined in the April 2010 World Economic Outlook. Some countries, notably in Asia, are off to a strong start, but growth in others is constrained by lasting damage to the financial sector and...

This study, another in the series focusing on special issues in transition, reviews the experience of output decline and recovery in the 25 countries of eastern and central Europe and the Baltics, Russia, and other countries of the former Soviet Union. Although these countries began the process...

The economic slowdown in sub-Saharan Africa looks set to be mercifully brief. Recovery is now under way across the region. The region's relative resilience during this global recession, compared with previous global downturns, owes much to the health of its economies and the strengthening of...