This paper analyzes the historical evolution of the international monetary system in the context of the rising role of developing countries in the world economy and the emerging multi-polar growth setting. It evaluates the stability of the current"non-system"and how the global economic context...

The simmering sovereign debt crisis in the Euro Zone represents a looming threat to the recovery of the world economy and could lead to a renewed global financial crisis. The purpose of this paper is to analyze the root causes of the crisis in Europe and assess the extent to which it was driven...

Africa's economic performance has been widely viewed with pessimism. In this paper, firm-level data for around 80 countries are used to examine formal firm performance. Without controls, manufacturing African firms perform significantly worse than firms in other regions. They have lower...

This volume presents papers from a global gathering of the world’s leading development scholars and practitioners held May 31 - June 2, 2010. Paper themes include: Environmental Commons and the Green Economy, Post-crisis Development Strategy, the Political Economy of Fragile States, Measuring...

The new structural economics argues that the best way to upgrade a country's endowment structure is to develop its industries at any specific time according to the comparative advantages determined by its given endowment structure at that time. The economy will be most competitive, the economic...

The Annual Bank Conference on Development Economics (ABCDE) brings fresh, innovative perspectives to key problems of development. By providing a forum in which policy makers, academics and leading researchers focus on a common theme, ABCDE plays an important role in advancing debate and shaping...

The Annual World Bank Conference on Development Economics (ABCDE) is a leading forum for advanced, forward-looking research on important development issues. Each year, the ABCDE brings policy makers and politicians together with researchers from academe, international organizations, and think...

This paper provides an historical overview of both the evolution of the economic performance of the developing world and the evolution of economic thought on development policy. The 20th century was broadly characterized by divergence between high-income countries and the developing world, with...

China's government economic stimulus package in 2008-09 appears to have worked well. It seems to have been about the right size, included a number of appropriate components, and was well timed. Its subnational component was designed to maximize the impact of the stimulus package on the economy...

This paper discusses the causes of the middle-income trap in Latin America and the Caribbean, identifies the challenges and opportunities for Latin America that come from China's rise, and draws lessons from New Structural Economics and the Growth Identification and Facilitation Framework to...