Capital markets can improve risk sharing and the efficiency with which capital is allocated to the real economy, boosting economic growth and welfare. However, despite these potential benefits, not all countries have well developed capital markets. Moreover, government-led initiatives to develop...

This article profiles economist David Card, whose work on minimum wages, immigration, and education challenged conventional wisdom. Card rose to prominence in 1995 when he won the coveted John Bates Clark Medal, then awarded every two years by the American Economic Association to the leading...

This paper reports about current mainstream growth projections for the United States and the European Union over the medium term represent a marked slowdown from growth rates in the decades prior to the global financial crisis. Slower growth in Europe and the United States has mixed implications...

This issue focuses on recent experiences that holds lessons for when to tackle debt and when not to. Growth is picking up, and the IMF has been ratcheting up its forecasts. Government coffers are filling and, with more people at work, demand for public social support is receding. Research shows...

Abstract: Accelerating economic growth in Central America, Panama and the Dominican Republic (CAPDR) remains an elusive task. While the region performed relatively well in the post-global financial crisis period, over the last five years obstacles to growth have become more evident and new...

This issue of Finance and Development discusses need of empowering women, which is critical for the world's economy and people. Unequal or unfair treatment can marginalize women and hinder their participation as productive individuals contributing to society and the economy in invaluable ways....

This issue of Finance and Development discusses link between demographics and economic well-being. In the coming decades, demographics is expected to be more favorable to economic well-being in the less developed regions than in the more developed regions. The age structure of a population...

The European Commission unveiled the Carbon Border Adjustment Mechanism (CBAM) in July 2021 as part of its "Fit for 55" climate-policy package. The European Commission had announced this trade-policy instrument under the Green Deal in 2019 as a means of implementing more ambitious climate-policy...

Using a panel regression approach across 13 developing Asian economies from 1996Q1 to 2019Q4, this paper examines the extent of financial development as a transmission channel for mediating the "allocation puzzle" in capital flows. This puzzle pertains to why capital seems to flow to economies...