This paper introduces an "index of macroeconomic space" - demonstrating the ability of a country to run a countercyclical fiscal policy or a fiscal stimulus at any point in time - to show how a sample of 20 mostly middle-income countries had entered the 2008 global financial crisis with...

This paper uses a growth diagnostics approach à la Hausmann, Rodrik, and Velasco (HRV) to identify the most 'binding' constraints to private sector growth in Mongolia - a small, low-income, mineral-rich, transition economy. The approach of applying the HRV methodology is useful in those cases...