The Annual Review of Development Effectiveness (ARDE) 2003, examines the effectiveness of Bank support to borrower countries, in particular, the help to foster reform policies, and institutional frameworks...
Debt management can reduce financial vulnerability by limiting liquidity, and rollover risks. This note reviews Argentina's debt management strategy, towards improving the country's credit rating to an...
Debt management can reduce financial vulnerability by limiting liquidity, and rollover risks. This note reviews Argentina's debt management strategy, towards improving the country's credit rating to an...
La gestión de la deuda puede reducir la vulnerabilidad financiera mediante la limitación de la liquidez y el riesgo del refinanciamiento. Esta nota examina la estrategia de gestión de la deuda de Argentina...
Dual exchange rates and black markets for foreign exchange are common in developing countries, and a body of evidence is beginning to emerge on the effects that such parallel foreign exchange systems have...
Unitary versus collective models of the household: is it time to shift the burden of proof? Parallel exchange rates in developing countries. Incentives and the resolution of bank distress. Financing infrastructure...
The 1994 World Bank study, "Adjustment in Africa: reforms, results, and the road ahead," assessed the extent of, and economic payoffs from, policy reform in 29 countries in sub-Saharan Africa in the mid-1980s...
Exchange-rate-based stabilization is designed to reduce inflation by using the exchange rate as the main nominal anchor. This does not necessarily mean a fixed exchange rate. A crawling peg with a low...
In the current period of devaluation pessimism, devaluation is often seen as an instrument to accommodate inflation instead of one to change the real exchange rate and support external balance. The authors...
This article examines the effects of disinflation on economic activity in countries characterized by chronic inflation. Such countries have a long history of inflation at rates exceeding those in industrial...
Exchange rate policy is usually driven by two different, often conflicting, objectives: to support a competitive real exchange rate and to serve as a nominal anchor for low inflation. The author focuses...
On "hunger and public action": a review article on the book by Jean Dreze and Amartya Sen. Who wins and who loses from voluntary export restraints? - the case of footwear. When do heterodox stabilization...
What advantages and disadvantages does the heterodox strategy offer to stabilization programs in countries with chronic high inflation? heterodox stabilization programs, in our definition, are those that...
The Austral plan, launched in 1985, was Argentina's most recent stabilization strategy for reducing high inflation. A heterodox program, it combined orthodox components - tight fiscal policy and monetary...
Orthodox stabilization programs in Latin American countries have been notoriously unsuccessful in combating inflation, despite the imposition of stringent cuts in government deficits. In most cases inflation...
Agricultural incentives in developing countries: measuring the effect of sectoral and economywide policies. Inflationary rigidities and orthodox stabilization policies: lessons from Latin America. Nutrients:...
When facing persistent balance of payments problems, some countries have resorted to a dual exchange rate system as an alternative to a uniform exchange rate adjustment. Typically under the dual system...
It is widely accepted that fiscal deficits financed by money creation are inherently inflationary. In addition, the stylized facts show that all hyperinflations were accompanied by large budget deficits...