I had the privilege recently to spend an unscheduled hour of discussion with a group of young Tunisians who were visiting our offices. As often, on these occasions it is hard not to get captured…

Antonius Verheijen |

 Photo © Dominic Chavez/World Bank Performance budgeting (PB) has a deep and enduring appeal. What government would not want to allocate resources in a way that fosters efficiency, effectiveness,…

Donald Moynihan, Ivor Beazley |

Policymakers often associate competitiveness with real exchange rates. Not too long ago, firms in Southern European countries attributed their difficulties to compete in global markets with a…

Gonzalo Varela, Stefania Lovo |

To reinvigorate growth in Europe, European Central Bank President Mario Draghi called for more common projects in the European Union (EU). And he emphasized that these efforts need to meet a set…

Doerte Doemeland, Arup Banerji, Sanja Madzarevic-Sujster |

Also available in: Arabic | French National Bank of Abu Dhabi, UAE. Photo: Wikimedia Commons Gulf banking markets may have entered an important phase of consolidation, with the potential to…

Pietro Calice |

Understanding macroeconomic volatility part 3Read parts 1 & 2
There’s good evidence that a country’s level of financial development affects the impact of volatility on economic growth,…

Francisco G. Carneiro, Ha Minh Nguyen, Rei Odawara |

When development practitioners such as ourselves think of poverty, the EU is not what comes to mind first. While it is true that average incomes are higher in Europe than in most regions of the…

Doerte Doemeland, Gabriela Inchauste |

Understanding Macroeconomic Volatility: Part 2 The fact is that a government can soften a recession by increasing spending (the counter-cyclical approach) to raise demand and output. If government…

Francisco G. Carneiro, Ha Minh Nguyen, Rei Odawara |

Local governments are under pressure to provide more and better services. But in most cases, they cannot do this alone. An examination of the World Bank Group’s PPI database and the PPP databases…

Aijaz Ahmad, Shyamala Shukla |