This public expenditure review (PER) is the first comprehensive assessment of public spending on disaster response, recovery, and reconstruction activities in the Philippines. Despite the high exposure of the country to natural disaster shocks and climate risks, no comprehensive review has been...

Using the World Bank Enterprise Survey covering 6,800 firms across 43 developing countries, this paper investigates the prevalence and determinants of collateralized borrowing. It focuses on the following two aspects: (1) whether firms' loans from financial institutions require collateral (the...