This paper proposes a new framework to model institutions and institutional change. It shows how moral agents, who strive to cooperate with others, can form institutions that facilitate cooperation. The...
Latin America and the Caribbean (LAC) continues to competently manage challenges of weak global demand, higher debt, uncertainty surrounding the war in Ukraine, and the ongoing although diminishing inflationary...
This paper addresses several shortcomings in the productivity and markup estimation literature. Using Monte-Carlo simulations, the analysis shows that the methods in Ackerberg, Caves and Frazer (2015)...
This report provides an overview of the demand and supply side of MSME finance as well as certain aspects of the enabling environment. A detailed analysis of the financial sector infrastructure for MSME...
This note takes stock of productivity trends of the Albanian non-agricultural private sector using granular firm-level data. To understand better the sources of jobs and productivity growth, this note...
Growth in the Western Balkans has strengthened to an estimated 3.5 percent. In most of the region, growth projections for 2018 have been revised upward. Growth was stimulated by higher public investment...
GDP growth in the Western Balkans slowed from 3.1 percent in 2016 to an estimated 2.4 percent in 2017. Regional growth in 2017 is less optimistic than the 2.6 percent expected when the Fall issue of this...
GDP growth in the Western Balkans slowed from 3.1 percent in 2016 to an estimated 2.4 percent in 2017. Regional growth in 2017 is less optimistic than the 2.6 percent expected when the Fall issue of this...
This is a semi-annual report series on recent economic developments and economic policies in the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, FYR Macedonia, Montenegro, and Serbia). The report...
This is a semi-annual report series on recent economic developments and economic policies in the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, FYR Macedonia, Montenegro, and Serbia). The report...
This paper brings together the main findings and policy implications of two recent World Bank regional reports on economic growth in Latin America and the Caribbean: Araujo, Vostroknutova, Wacker and Clavijo...
The Yugo, a communist-era car from the former Yugoslavia, was widely ridiculed for shedding its parts on roads across Europe and the United States. Zastava, which made Yugo, fared even worse than its product...
The Yugo, a communist-era car from the former Yugoslavia, was widely ridiculed for shedding its parts on roads across Europe and the United States. Zastava, which made Yugo, fared even worse than its product...
The Growth Challenge of Latin America andthe Caribbean shows that Latin America and the Caribbean's growthperformance over the past decade cannot be reduced to the commodityboom: growth-promoting reforms...
The countries of the Latin America and the Caribbean (LAC) region like other emerging economies, have benefited from a decade of remarkable growth and some income per capita convergence toward the United...
Growth in the six South East European countries (SEE6) rebounded to 2.1 percent in 2015, as investment revived. The SEE6 region is not only growing but also rebalancing to more durable sources of growth...
Growth in the six South East European countries (SEE6) rebounded to 2.1 percent in 2015, as investment revived. The SEE6 region is not only growing but also rebalancing to more durable sources of growth...
Peru’s recent robust growth has raised its economic prospects and has been broadly shared. The next step in development - high-income status - is challenging for all middle income countries and requires...
Even nearly ten years of solid growth cannot guarantee long-term income convergence. The countries of the Latin America and Caribbean region (LAC), like other emerging economies, have benefited from a...
This report takes an in-depth look, from a policy perspective, at the trade-offs between increasing tax collection and improving the equity of the fiscal system. As part of this effort, the report places...