Entrepreneurship is a critical process in a dynamic capitalist economy. It generates new productive capacities, processes, and goods; promotes innovation; and fosters employment creation, growth, and development...
A purpose of this book is to present recent World Bank analytical work on the causes of violence and conflict in Colombia, highlighting pilot lending programs oriented to promote peace and development...
A purpose of this book is to present recent World Bank analytical work on the causes of violence and conflict in Colombia, highlighting pilot lending programs oriented to promote peace and development...
Global capitalism, vintage early 21st century, favors the movement of goods and capital across national borders more than it does the movement of people. It was not always this way. The first wave of globalization...
Globalization could significantly expand trade, international investment, and technological advances, but the gains from global integration have been unevenly distributed across and within nations. Greater...
Globalization offers developing countries the opportunities to create wealth through export-led growth, to expand international trade in goods and services, and to gain access to new ideas, technologies...
In the 1980s and 1990s, economic growth (material progress) became the main development goal under the policies known as the "Washington Consensus". Earlier concerns about inequalities of income and wealth...
Recent literature suggests that because investment expenditures are irreversible and can be delayed, they may be highly sensitive to uncertainty. The authors briefly summarize the theory, stressing its...
The author identifies fundamental economic changes in the last 20 years that have influenced the emergence of a new paradigm on economic reform. The new orthodoxy on economic reform emphasizes smaller...
The author reviews recent literature on capital formation and economic reform and looks at the cycle of private investment that occurs during adjustment. He identifies three phases in the response of private...
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...
This article reviews theories of investment behavior and examines empirical studies of investment in developing countries. The emphasis is on understanding the interactions among macroeconomic policies...
The authors construct, estimate, and simulate a macroeconomic model for Chile. This model allows aggregate supply and demand factors to interact in determining such key economic variables as inflation...
This paper considers two periods: before socialism and after it. The former includes the 1920s, 1930s, and 1940s, and the second includes the late 1980s and early 1990s. The focus is on issues of economic...
Bulgaria's shaky macroeconomic situation is a serious obstacle for a smooth transition from central planning to markets. It has to correct large current account deficits with the convertible currency area...
The economics of the government budget constraint. Reforming property rights in land and tenancy. Inflation and the costs of stabilization: historical and recent experiences and policy lessons. The role...
This article reviews various experiences with stabilization. It first examines stabilization programs in the context of hyperinflation-looking at the experiences of Austria and Germany in the early 1920s...
The recovery of the Chilean economy since the mid 1980s, has certainly been successful in macroeconomic terms. In fact, the restoration of growth and the correction of external imbalances after the severe...
Current attempts at reform in Eastern European countries raise important issues of macroeconomic management in the transition from central planning to a market or mixed economy. This paper develops simple...
This paper simulates a model of joint determination of private investment spending, aggregate investment profitability and the level of GDP for Chile. It addresses the following issues: (a) sharp cycles...