In recent decades, rising inequalities in national income and wealth have been accompanied by inequality in living standards between developed and developing countries. A new book, “International Policy Rules and Inequality: Implications for Global Economic Governance” edited by Jose Antonio Ocampo, analyzes the question: to what extent are the rules that govern the global economy […]
Projects implemented by multilateral development banks (MDBs) seek to support countries’ economic and social development. In most cases, aid is provided for investment projects that support development or implementation of medium-term economic and legal reforms. The literature on the effectiveness of these development projects has traditionally focused on ex-post analysis. While this is the appropriate […]
The 2008 Global Financial Crisis and subsequent financial turbulence has triggered economists and policymakers to revisit the extent to which capital account liberalization is optimal for all countries at all levels of development. Liberalization is a positive step for financial development as it can increase risk-sharing within the domestic economy and smooth out domestic consumption, […]