Integration of knowledge with lending is an enduring theme in World Bank strategies at the corporate and country levels. The Bank lending instruments could be more relevant and produce better results if they incorporate key analytical, country-level knowledge. The goal of this learning product...

This study utilizes the 1992 Bulgarian household budget survey to analyze the distribution of income and income tax burden. Results indicate that the country is characterized by low income inequality, though this is changing rapidly. The findings also show that the present income tax system is...

The purpose of this paper is to determine the main causes of the Belarus high inflation during the period 1996-2001. Using a co-integration framework, we arrived at an over-identified long-run structure, suggesting that money is co-integrated with wages, but not with prices. We also estimated...

The author provides a preliminary benchmarking of infrastructure performance in Lesotho in four major sectors - electricity, water and sanitation, information and communication technology, and road transportation - against the relevant group of comparator countries using a new World Bank...

An article reviewing Bulgaria's early market reforms implemented under harsh external conditions and considerable dislocation of the local economy. The article predicted that realistic growth scenarios for must be predicated on a debt and debt service reduction on Bulgaria's large external...

The note provides an argument for a rapid economic transition in Eastern Europe, inter alia, by comparing and contrasting the initial conditions and different institutional environments in Eastern Europe and China

This note demonstratres a potential theoretical problem in achieving general equilibrium in an economy composed of competitive firms maximizing income per worker, under conditions of fixed capital; a problem which might suggest that disequilibria in some markets might be a rule rather than...