This book analyses the role of regional governments in the trade policy of the Russian Federation. It examines regional trade-related policies, such as subsidies, taxes and licensing, and their implications for Russia's international trade commitments, and in particular its negotiations for...

Encouraging entrepreneurship and facilitating the rapid growth of innovative SMEs is an effective means of creating jobs, increasing productivity and alleviating poverty. This publication describes recent trends concerning SMEs and entrepreneurship in OECD economies and beyond. It reports on a...

This report reviews the micro, small and medium-sized business sector in the Republic of Moldova, as well as governmental policies related to small and medium-sized enterprises, particularly regarding financing and innovation.

Developments in the countries of the CFA franc zone in the aftermath of the January 1994 devaluation of the CFA franc are reviewed in this paper. Following a summary of the new adjusment strategy, the papers describes the progress made and the difficulties encountered during 1994 and early 1995...

Capital markets can improve risk sharing and the efficiency with which capital is allocated to the real economy, boosting economic growth and welfare. However, despite these potential benefits, not all countries have well developed capital markets. Moreover, government-led initiatives to develop...

The government’s plans to reform the tax system and administration are well founded. The Central Bank of Aruba is to be commended for its prudent management of monetary policy, as demonstrated by the continued credibility and strength of the peg to the U.S. dollar, buttressed by a robust...

This paper focuses on what countries can do on their own-that is, on the role of domestic policies-with respect to country insurance. Member countries are routinely faced with a range of shocks that can contribute to higher volatility in aggregate output and, in extreme cases, to economic...

How to entrench hard-won gains, increase resilience to shocks, and improve growth performance to reduce poverty? As Central America moves forward in regaining macroeconomic stability, these are the challenges. This study analyzes Central America’s real, fiscal, monetary, and financial sector...

This study identifies the key characteristics of a successful exchange rate system. It focuses on regimes in the industrial countries and consider the implications for the operation of the international monetary system

This paper provides a detailed account of Hong Kong on the eve of its reintegration into China as a special administrative region. It analyzes recent economic development and provides a clear overview of Hong Kong's economic, financial, institutional, and political circumstances, as well a brief...