A growing body of recent macroeconomic evidence suggests that volatility is detrimental to economic growth. The channels through which volatility affects growth, however, are less clear; substantive evidence based on disaggregate data is almost non-existent. This paper offers a framework in...

Der Beitrag analysiert die Argentinien-Krise, vergleicht die makroökonomische Entwicklung von Argentinien, Brasilien, Chile und Mexiko seit der Mexiko-Krise und entwickelt Indikatoren zur Beurteilung der Entwicklungschancen dieser Länder. Für Argentinien wie für Brasilien, Chile und Mexiko...

The literature on aid has come a long way in recent years, and as a result we now know much more about aid effectiveness than possibly ever before. But significant gaps in knowledge remain. One such gap is the effectiveness of aid in the so-called ‘fragile states’, countries with critically...

The report analyses the fiscal and macroeconomic environment in the lagging regions and the relevant Member States of the EU, as a sound and sustainable macroeconomic framework is a necessary, but by itself not a sufficient precondition for investment and growth in the regions. It starts with...

This report is an annex to wiiw Research Report 421, 'Economic Challenges of Lagging Regions I Fiscal and Macroeconomic Environment'. It provides eight detailed country case studies, analysing the fiscal and macroeconomic environment in Bulgaria, Greece, Hungary, Italy, Poland, Portugal, Romania...

The European Commission has set a target date of 2025 for Western Balkan EU accession, while also outlining a broader new strategy which includes Brussels taking a more active role in solving political disputes in the region, and upgrading infrastructure as part of the Berlin Process. We welcome...

The prescription of optimally managing natural resource revenue windfalls by smoothing consumption across generations using an intergenerational sovereign wealth fund that only invests in foreign assets is not appropriate for resource-rich developing economies. It is better for these economies...

Certain stylized facts are common among successful economic latecomers: an inverse U-shaped gross domestic product and capital per capita growth rate, high growth rates during the catch-up period, and rapid structural changes. This paper, for the first time, proposes a general equilibrium...

In seinem Vortrag beim Munich Economic Summit am 21. und 22. Mai 2015 äußert sich der französische Premierminister Manuel Valls zur Wettbewerbsfähigkeit und zu Innovationen der französischen Wirtschaft und befasst sich mit der besonderen Stellung Frankreichs und Deutschlands in Europa.

The investment-intensive growth model of the People’s Republic of China (PRC) is often viewed as state-driven and ultimately unsustainable. But largely unnoticed, a shift has taken place. This paper examines the changes in investment patterns since 2003 and the potential impact of industrial...