Latin America has put its faith in democracy and the market economy. Efficient, fair and equitable fiscal policy can help foster development and consolidate democracy. * This Policy Insights is based on the Latin American Economic Outlook 2008.

Strong commodity prices are driving Africa’s growth, which should be about 6 % in 2007 and 2008. External vulnerability is a function of its limited integration into international trade and investment flows. Africa should mobilise external sources more strategically. In this respect, aid for...

The Extractive Industries Transparency Initiative (EITI, www.eitransparency.org) aims to improve transparency and accountability by the full publication and verification of company payments and government revenues. The revenues flowing from natural resources extraction are huge. EITI is one of...

How can Mali and the donor community enhance competitiveness of the Malian cotton sector and realise its growth potential? Mali is already promoting the abolition of cotton export subsidies in Northern nations in the current WTO Doha Round. To enhance the cotton sector’s competitiveness and...

Development economics can explain both saving sources and motives that have led to the recent SWF boom, thus helping avoid investment restrictions in OECD countries. As the economics underlying funds from oil exporting countries are different from the economics of East Asian funds, so are the...

Globalisation has brought benefits to the economies in the Black Sea Economic Co-operation (BSEC) and Central Asia (CA), but compounded volatility and uncertainty associated with the transition to market economy. Labour markets have been put under pressure, as BSEC-CA countries compete on the...

Migration can strengthen the development process in sending countries. Potential gains from migration are currently insufficiently utilised. More coherence between various policy domains – in particular related to migration, human resource development and the labour market – is a critical...

MDGs and new aid-effectiveness targets are an opprtunity for donors to explain what they do before growing scepticism erodes taxpayer support for aid.

Access to energy is essential for economic, social and political development. Despite its enormous potential in fossil and renewable energy sources, Africa suffers from major energy deficits. The continent’s resources are underexploited or exported in raw form or wasted in the course of...

Pension reform in Latin America has helped deepen capital markets, but with mixed results in terms of increasing national savings. Private pension funds have a still untapped potential to help to improve corporate governance of the companies in which they invest.