Eradicating corruption ranks among the central policy concerns of economic development practitioners around the globe. Then-World Bank President James Wolfenson made the case for combatting corruption in a 1996 speech now known as the “Cancer of Corruption” address. In it, he spelled out a theoretical mechanism connecting corruption and poverty:
Growing out of corruption
Jie Bai, Seema Jayachandran, Edmund J. Malesky, Benjamin Olken , 22 November 2013
Carlos A. Vegh , Guillermo Vuletin, 1 October 2013
It is well-established that government spending in developing countries has often been procyclical. In other words, government spending has increased in good times and contracted in bad times, thus exacerbating the underlying business cycle. The inability to save in good times to build a war chest for bad times has often led to wrenching financial and sovereign-debt crises.
Awakening the WTO
Hector R. Torres, 21 September 2013
Admitting that 'the present is just a snapshot in a journey' is disconcerting, so we feel better assuming that the current state of affairs will turn out to be permanent. Indulging in this mistake is common, and we also see it happening in multilateral institutions – particularly if they do not have a watchdog to keep them free from self-deception.
Measuring financial development
Martin Cihák, Asli Demirgüç-Kunt, Erik Feyen, Ross Levine, 25 April 2013
Going to a doctor for a health check-up usually involves being weighed. Weight is a useful piece of information that may indicate something about a person’s eating habits, exercise, and other behaviours. But it does not provide a sufficient basis to assess a person’s health and wellbeing.
The shifting geography of global value chains: Implications for developing countries and trade policy
Peter Draper, 16 July 2012
Two contradictory trends are at work in the global economy.
- First, globalisation through multinational corporation production networks continues apace.
This promotes convergence and integration. The global value chains they operate have become the world economy’s backbone.
Developing countries’ financial vulnerability to the Eurozone crisis: An event study of equity and bond markets
Joshua Aizenman, Yothin Jinjarak, Donghyun Park, Minsoo Lee, 19 May 2012
Just a few years after the US-originated global crisis, the world economy finds itself confronted with another crisis emanating from the advanced economies. The Eurozone crisis currently poses the single biggest downside risk to the global outlook.
Fiscal spending and growth: More patterns
Céline Carrère, Jaime de Melo, 17 May 2012
As the Eurozone is entering into recession, fiscal policy has moved to centre stage. The extent of austerity has been widely attacked, including by IMF staff (Cottarelli 2012), while the design of fiscal policy, namely expenditure reductions versus tax increases (Alesina and Giavazzi 2012), has also come under scrutiny.
Interest groups and government capabilities matter for financial development
Eduardo Cavallo, Carlos Scartascini, 12 May 2012
The debate on the benefits and limits of financial development has come to the fore with the global financial crisis. The fact that the epicentre of the global financial crisis was in countries with developed credit markets has led some commentators to argue that financial development may have gone too far.
Coping with loss: The impact of natural disasters on developing countries' trade flows
Jorge Andrade da Silva, Lucian Cernat, 9 February 2012
The European Commission has recently published its Trade and Development Communication, which underlines trade as one of the key drivers to support development, stimulate growth, and lift people out of poverty.
Lifting the curtain on corruption in developing countries
Benjamin Olken , Rohini Pande, 21 January 2012
In recent years, innovations in methodology have sparked a remarkable expansion in economists’ ability to measure corruption.
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Adelman, 28 October 2013
Reichlin, Giugliano, 7 November 2013
Holmes, McGrattan, Prescott
Beck, De Haas, Ongena
CEPR Policy Research
- The buyer margins of firms' exportsCarballo, Ottaviano, Volpe
- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
- Ethnic Unemployment Rates and Frictional MarketsGobillon, Rupert, Wasmer
- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini
- The Manipulation of Basel Risk-WeightsMariathasan, Merrouche