The global infrastructure gap is estimated to be US $1-1.5 trillion in developing countries (United Nations, 2015). We explore how Multilateral Development Banks (MDBs) can help to fill this gap by mobilizing resources from other entities. The analysis focuses on more than 6,500 transactions in...

Using a large panel of official bilateral loan data for 111 borrowing countries and 78 lending countries between 1980 and 2020, the paper shows that international government borrowing from bilateral sources is a-cyclical with respect to the business cycle of the borrower but procyclical with...

La región de América Latina y el Caribe (ALC) demostró ser relativamente resiliente ante el aumento del estrés de deuda, la inflación persistente y la incertidumbre en torno a la invasión rusa de Ucrania. Los niveles de ingreso y de empleo en general se recuperaron tras la pandemia, la...

This article challenges recent findings that democracy has sizable effects on economic growth. As extensive political science research indicates that economic turmoil is responsible for causing or facilitating many democratic transitions, the paper focuses on this endogeneity concern. Using a...