The author estimate the costs and benefits of labor retrenchment in state-owned industrial enterprises in China. Their results indicate the prevalence of low and stagnant labor productivity, low capital...
The Palestinian economy has been operating below its enormous potential since the 1993 signing of the Declaration of Principles. This book documents the degrees to which the permit and closure policies...
How international exchange, technology, and institutions affect workers : an introduction; by Ishac Diwan, and Michael Walton. Learning by trading and the returns to human capital in developing countries;...
Closed-end national index funds (NIFs of country funds) invest primarily in the stocks of the originating countries, such as Brazil, India, and the Republic of Korea. They are typically traded in the organized...
The authors theoretically analyze country funds, focusing on emerging economies in which capital markets are not readily accessible to outside investors. They study country-fund pricing and the associated...
The authors review the case for market-based debt reduction and concerted debt reduction. They explain the new menu-based approach to debt reduction and discuss why it may be preferred to market-based...
Private investors have an important role to play in the ongoing process of reform in Eastern Europe. So external creditworthiness is crucial to a successful transition. Large government borrowing crowds...
This study provides evidence that bank characteristics are significant determinants of commercial-bank choice behavior when confronted with a menu of options. It develops a theoretical model of bank choice...
When sovereign debt trades at a discount on secondary markets, a market buyback increases the secondary market price. The wealth of private creditors increases because part of the funds used in the repurchase...
The Brady Initiative has introduced official support for debt reduction. This new phase in the debt strategy requires a new set of tools to analyze debt deals and to study the impact of a deal on the debtor...
The purpose of this paper is to analyse the nature of the debt problem and the patterns of economic reform and adjustment being pursued by countries in the EMENA region. First, the debt situation in the...