Economic development means creating something in one place and destroying something in another place. The crisis started in the middle of 2007 rapidly developed and spread into a global economic shock, resulting in a number of European bank failures, declines in various stock indexes, and large...

Motivated by theoretical arguments that assert a positive impact of R&D on institutions, this paper aims to provide some empirical analysis on the relationship between these two variables. In particular this paper has found a significant direct effect of institutions on R&D intensity. Countries...

Why do some countries grow and others do not? The authors of The Atlas of Economic Complexity offer readers an explanation based on "Economic Complexity," a measure of a society’s productive knowledge. Prosperous societies are those that have the knowledge to make a larger variety of more...

When have you gone into an electronics store, picked up a desirable gadget, and found that it was labeled “Made in Russia� Probably never. Russia, despite its epic intellectual achievements in music, literature, art, and pure science, is a negligible presence in world technology....

Walter Bagehot's putative principles of lending in liquidity crises—to lend freely to solvent banks with good collateral but at penalty rates—have served as a theoretical basis for thinking about the lender of last resort for close to 100 years, while simultaneously providing...

This paper discusses social protection initiatives in the context of developing countries and explores the opportunities they present for promoting a gender-equality agenda and women's empowerment. The paper begins with a brief introduction on the emergence of social protection (SP) and how it...

The economic prosperity associated with the Coastal regions of China has not 'trickled' down to the Western and Central regions sufficiently enough to eliminate the disparities in income between the regions. Indeed, the disparities between China's Coastal regions and its other regions continue...

In 1992, Mexico's federal government signed the ANMEB agreement as part of a series of strategic public education reforms. The agreement decentralized the education system, making state governments directly responsible for providing basic public education, in an attempt to reduce marked regional...

Peruvian monetary poverty declined by 12 percentage points in only four years. Based on the Alkire-Foster multidimensional headcount, we build a simple comparative framework to measure the tension between this result and a broader indicator of deprivation. We select six dimensions and apply this...

Does the pattern of social connections between individuals matter for macroeconomic outcomes? If so, how does this effect operate and how big is it? Using network analysis tools, we explore how different social structures affect technology diffusion and thereby a country’s rate of...