There is broad agreement among academics and practitioners that the benefits of increased EU coordination in the area of development cooperation would clearly outweigh the costs. The EU is indeed a coordination pioneer, having taken up a number of internal and external commitments. This...

Economic fluctuations are much stronger in developing countries than in the United States. Yet, while a large literature debates what constitutes a reasonable estimate of the welfare cost of business cycles in the US, it remains an open question how large that cost is in developing countries....

Today’s world is a consumerist world and globalization has given the consumer a range of choice. But the main benefit has been at the elite level where in today’s elite studies at Harvard, vacations in Switzerland, buys luxury products from France and lives a jet setting life style. By...

Macroeconomic fluctuations are much stronger in developing countries than in the United States. Yet, while a large literature debates the welfare cost of economic fluctuations in the US, it remains an open question how large that cost is in developing countries. Using several models, we provide...

In 2021, the United Nations Committee on Development Policy adopted a resolution that Bangladesh would graduate from least developed country (LDC) status after a period of 5 years. This means that in 2026 Bangladesh would have to forego its exemption to intellectual property (IP) provisions of...

This paper estimates the costs of sovereign defaults to a broader extent than has been done in the literature. Applying the synthetic control method to a sample of 131 defaults since 1900, it finds that, on average, growth in the first two years falls 3.6 and 2.4 percentage points short of the...

This paper estimates the costs of sovereign defaults to a broader extent than has been done in the literature. Applying the synthetic control method to a sample of 131 defaults since 1900, it finds that, on average, growth in the first two years falls 3.6 and 2.4 percentage points short of the...