Despite Mexico’s recent remarkable progress in adjusting its fiscal and external accounts and in restructuring its economy, the recovery of growth has remained elusive. This paper reviews some aspects of Mexico’s recent performance and suggests that systemic adjustment uncertainty, and...

The dynamic responses of a developing economy to a variety of policy and external shocks are studied using an empirical macroeconomic model which embodies rational expectations, perfect capital mobility, and import rationing. These features, which are relatively new in developing-country...

Poverty has remained widespread in Mozambique, mostly on account of the prevalent war situation. This paper provides a profile of the lowest income groups in Mozambique and examines how they were affected by the economic recovery program of 1986–90. The results, indicate that despite large...

This paper focuses on the Strategy for Accelerated Growth and Sustainable Development (SCADD) for Burkina Faso. It provides an overview of a decade of development, takes stock of the recent performance of Burkina Faso in various areas, and identifies the main challenges. The paper spells out a...

This paper focuses on the Medium-Term Development Program for the Kyrgyz Republic. The aim of this program is to put the economy of the country into a sustainable vector of development and improve the budget status to prevent social effects, increase living standard, and reduce poverty in the...

We examine determinants of, and interactions between, capital inflows, financial development, and domestic investment in developing countries during 2001-07, a period of surging global liquidity and low interest rates. Reductions in the global price of risk and in domestic borrowing costs were...

This paper describes problems and prospects associated with urbanization. The paper sees the rapid urbanization in the less developed world not as a crisis that can be “dealt with” by urgent measures but as a major historical phenomenon that calls for analytical study as well as current...

This paper reviews the self-help housing project in El Salvador. The paper highlights that projects like this one become community efforts in a real sense. The families participate in road building, construction, digging trenches, and pipe-laying, under supervision. The Fundación Salvadoreña...

This paper highlights that agreement on an important package of reforms of vital significance to the future of the international monetary system was reached at a meeting of the Interim Committee of the Board of Governors of the IMF on the International Monetary System in Kingston, Jamaica, on...

This paper discusses the launch of the Brandt Commission. The paper highlights that during the week of the Annual Meetings of the Board of Governors of the World Bank and the IMF in Washington, D.C. (September 26–30, 1977), Willy Brandt, former Chancellor of the Federal Republic of Germany,...