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WORKING PAPERS
July 13, 2005
This study examines the impact of the principal financial crises in emerging markets in recent years on the incidence of poverty in the countries in question. The growth impact is first identified by comparing average per capita growth in the two years prior to the crisis to that in the crisis year ...
WORKING PAPERS
July 13, 2005
We assess the dynamic behind the high net resource transfers of donors and creditors, IDA, bilaterals, IBRD, IMF and other multilateral creditors to the countries of sub-Saharan Africa in the 1980s and 1990s. Analyzing a panel of 37 recipient countries over the years 1978-98, we find that net transf...
WORKING PAPERS
July 13, 2005
Public policy on financial crises in emerging markets has implicitly been grounded in economic theory calling for lender-of-last-resort intervention when the country is solvent, and on theory recognizing that reputational damage is the quasi-collateral enabling lending to sovereigns with no physical...
WORKING PAPERS
July 11, 2005
In 1999, the United States and other major donor countries supported an historic expansion of the heavily indebted poor country (HIPC) debt relief initiative. Three years after the initiative came into existence, we are beginning to see the apparent impact that HIPC is having, particularly on recipi...
WORKING PAPERS
July 11, 2005
Nigeria is currently classified by the World Bank as a ‘blend’ country, making it the poorest country in the world that does not have ‘IDA-only’ status. This paper uses the World Bank’s own IDA eligibility criteria to assess whether Nigeria has a case for reclassification.
WORKING PAPERS
July 11, 2005
After more than a decade of financial sector liberalization, both of domestic markets and of international financial transactions (capital account liberalization), policymakers in many developing countries remain concerned about the effects that large and highly volatile capital flows have on their ...
WORKING PAPERS
July 11, 2005
The British proposal to create an International Finance Facility in order to 'frontload' $50 billion in aid per year until 2015 has generated a lot of attention and will likely be a major topic at the G8 meeting this July. But the IFF has also been shrouded in confusion and misconceptions. This pape...
CGD NOTES
July 06, 2005
Time to put to rest the stale debate over whether the World Bank should disburse grants or loans to the world’s poorest countries. It is critical that the Bank provide more of its funding as grants, but in a more rational manner than has been the case to date. A third Bank window should distribute g...