Braced for Impact: Reforming Kazakhstan's National Financial Holding forDevelopment Effectiveness and Market Creation offers a framework forassessing the readiness of development finance institutions (DFIs) and theirconglomerates to deliver credible development impact and create...

Implicit government guarantees to bail out troubled banks can produce a sizable fiscal contingent liability. Drawing on a rich history of various forms of staggered bailouts, this paper studies the link between bank bailouts and fiscal contingent liabilities using bank-level data for...

Since the early 1990s, public-private partnerships (PPPs) in infrastructure provision have been expanding around the world and in South Asia. Well-structured PPPs can unleash efficiency gains in the provision of infrastructure. But PPPs create liabilities for governments, including contingent...