This paper investigates the effectiveness of post-conflict aid at the project level and aims to identify post-conflict situations as a window of opportunity for project success. The Independent Evaluation Group dataset provides extensive information on the characteristics of World Bank projects...

The accumulation of decent housing matters both because of the difference it makes to living standards and because of its centrality to economic development. The consequences for living standards are far-reaching. In addition to directly conferring utility, decent housing improves health and...

This paper sets flight capital in the context of portfolio choice, focusing upon the proportion of private wealth that is held abroad. There are large regional differences in this proportion, ranging from 5 percent in South Asia to 40 percent in Africa. We explain cross-country differences in...

En este artículo examinamos la experiencia de Nigeria durante la crisis petrolera de los años 1980 y el comienzo de la aplicación de un paquete de ajuste estructural. Nuestro análisis se concentra en el rol jugado por el mercado del trabajo, particularmente en relación a la situación de...

This paper addresses the efficient management of natural resource revenues in capital-scarce developing economies. It departs from usual prescriptions based on the permanent income hypothesis and argues that capital-scarce countries should prioritize domestic investment. Because revenue streams...

This paper positions itself among the very rare microeconomic analyses on the consequences of civil war. Up to now, most analyses on this topic are based upon household surveys. The originality of the present study is that it investigates for the first time the likely predominant route by which...

During civil wars governments typically resort to inflation to raise revenue. A model of this phenomenon is presented, estimated, and applied to the choices and constraints faced during the postconflict period. The results show that far from there being a fiscal peace dividend, postconflict...

Developing countries frequently face large adverse shocks to their economies. We study two distinct types of such shocks: large declines in the price of a country's commodity exports and severe natural disasters. Unsurprisingly, adverse shocks reduce the short-term growth of constant-price GDP...