This article reviews various experiences with stabilization. It first examines stabilization programs in the context of hyperinflation--looking at the experiences of Austria and Germany in the early 1920s and Bolivia in 1985--and then reviews and interprets the results of orthodox stabilization...

Talent (combining creativity, education, skills, and knowledge) is associated with human capital and provides a very valuable economic resource. In the past, the emigration of human capital from developing countries raised fears because of the associated 'brain drain'. This is still a valid...

Human talent is a key economic resource and a source of creative power in science, technology, business, arts and culture and other activities. Talent has a large economic value and its mobility has increased with globalization, the spread of new information technologies and lower transportation...

A recent literature suggests that because investment expenditures are irreversible and can be delayed, they may be highly sensitive to uncertainty. We briefly summarize the theory, stressing its empirical implications. We then use cross-section and time-series data for a set of developing and...

The 1990s have seen a renewed interest in issues of capital accumulation and growth. New paradigms for saving, investment, and growth have been advanced to address theoretical and empirical puzzles and to guide the design of better policies. This paper provides a policy-oriented review of recent...