When India became independent in 1947 after two centuries of colonial rule, it immediately adopted a firmly democratic political system, with multiple parties, freedom of speech, and extensive political rights. Maintaining rapid as well as environmentally sustainable growth remains an important...

This paper discusses the role of fiscal policy and demographics. By the end of this century, about two-thirds of all countries are expected to have declining populations. This will have profound implications for economics, financial markets, social stability, and geopolitics. Fiscal policy...

This paper explores how poor countries might take advantage of globalization to raise their living standards and converge toward the advanced economies. The poor country, which has cheap labor and inadequate capital, acquires the superior technology that the rich country has. With everyone...

Abstract: Accelerating economic growth in Central America, Panama and the Dominican Republic (CAPDR) remains an elusive task. While the region performed relatively well in the post-global financial crisis period, over the last five years obstacles to growth have become more evident and new...