The 2007 Report on Economic and Social Progress in Latin America analyzes the nature and evolution of sovereign debt in Latin America and discusses the policies that can be followed by countries and international financial institutions (IFIs) to reduce the vulnerabilities associated with it....

This publication contains a collection of papers presented within the framework of the Public Policy Management and Transparency Network: Development Effectiveness and Results-Based Budget Management, of the Regional Policy Dialogue and the PRODEV initiative. The paper topics cover four central...

Latin America suffered a profound state crisis in the 1980s, which prompted not only the wave of macroeconomic and deregulation reforms known as the Washington Consensus, but also a wide variety of institutional or 'second generation' reforms. 'The State of State Reform in Latin America' reviews...

America faces large budget deficits and a near-record low rate of net national savings at the same time that tens of millions of families are approaching retirement with little or no financial cushion for their retirement. Some proposed solutions, like carving private accounts out of Social...

The tax competition hypothesis is that market integration places downward pressure on capital taxes and social expenditures. The compensation hypothesis asserts that market integration results in increased social expenditures and higher tax burdens. Using panel data over 1980-2012 from 26 OECD...

El estallido de la burbuja residencial en los Estados Unidos, a principios del 2007, rápidamente afecto al sector financiero no bancario y a los nuevos instrumentos crediticios y de seguros que se habían desarrollado al margen de las regulaciones nacionales e internacionales. Su efecto se...

This paper presents the family of the Keynes+Schumpeter (K+S, cf. Dosi et al, 2010, 2013, 2014) evolutionary agent-based models, which study the effects of a rich ensemble of innovation, industrial dynamics and macroeconomic policies on the long-term growth and short-run fluctuations of the...

This paper conducts an empirical analysis of influence of fiscal expenditure supporting agriculture monetary supply on rural residents’s consumption by adopting a vector auto-regression model, based on the data from 1978 to 2011. The study indicated that: in the short term, fiscal policy...

The enhanced Stability and Growth Pact calls on euro area members and aspirants to set boundaries to fiscal deficits through high-level legislation. A limit on the deficit, such as the deficit ceiling in Bulgaria's organic budget law, serves to protect solvency. The recent crisis clearly...

Botswana, Lesotho, Namibia, and Swaziland face the serious challenge of adjusting not only to lower Southern Africa Customs Union (SACU) transfers because of the global economic crisis, but also to a potential further decline over the medium term. This paper assesses options for the design of...