The rise of blockbuster pharmaceutical acquisitions has prompted fears that unprecedented market concentration will weaken competition. Two of the most prominent concerns focus on the upstream and downstream ends of the pharmaceutical industry: (1) the concern that these mergers will concentrate...

In emerging-market countries, commercial institutions do not always develop quickly or effectively to support ambitious entrepreneurs. How do intermediaries remedy these problems? We address this question by drawing on institutional literatures to develop the concept of open system...

China and India are playing an increasingly significant role in global trade. In 2016, their joint share of the global trade in goods reached around 14%, while their share of services came to 7.5%. They have very different trade profiles, however, also reflecting very different...

The paper reviews the diverse experience of OECD countries in establishing and running independent fiscal institutions, offering insights that could be useful for Latin American countries seeking to set-up and strengthen those institutions in the region. Through cluster analysis, we identify...

Mexico is well integrated into global value chains (GVCs). Its exports as a share of GDP have tripled since 1988. Mexico’s participation in GVCs is mainly driven by backward linkages, i.e. the share of foreign value added in Mexico’s total exports is large, which reflects Mexico’s...