Over the last decade, emerging market economies have faced shocks arising from both external events and idiosyncratic factors. Brazil took advantage of benign conditions in the first decade of the century to substantially increase its foreign reserves, achieving reserves adequacy on several...

This paper focuses on the role of "institutions" in poverty alleviation, where both poverty and institutions are interpreted broadly. The broadening of the poverty notion is important at least from the policy perspective. Even if one were convinced that higher growth would reduce income poverty...

A transition finance country pilot was initiated by the OECD Development Assistance Committee (DAC) in partnership with the government of Cabo Verde. The study aims to capture the challenges facing Cabo Verde following graduation from Least Developed Country (LDC) to Lower Middle Income Category...

This paper investigates whether the industrial relations climate in Indian States has affected the pattern of manufacturing growth in the period 1958-92. We show that pro-worker amendments to the Industrial Disputes Act are associated with lowered investment, employment, productivity and output...

RESUMEN La administración pública enfrenta grandes desafíos en América Latina, un continente con gran potencial económico pero con 44% de la población viviendo en condiciones de pobreza. Una de las causas de la inequidad es que mientras el 10% de los más ricos se apropia del 48% del...

Colombia is an interesting case study within emerging countries. Through 150 years of democratic tradition and seven decades of sound fiscal and monetary policies, the country has displayed institutional strength and economic growth, in spite of strong external shocks, rent- seeking by sectoral...

Until the early 1990s, the discussions on fiscal policy primarily centered on the functions of economic stabilization, income redistribution and resource allocation. Long-term growth was not usually viewed as an end itself, and fiscal policy was often not sufficiently tailored to the different...

In 2017, Congress introduced the Opportunity Zone (``OZ'') designation to promote development in distressed communities. A criticized feature of the program is that state governors select zones from many eligible tracts without meaningful scrutiny. We find that while governors are more likely to...

Colombia is an interesting case study within emerging countries. Through 150 years of democratic tradition and seven decades of sound fiscal and monetary policies, the country has displayed institutional strength and economic growth, in spite of strong external shocks, rent-seeking by sectoral...