School children in Kingston, Jamaica. Strong public financial management affects all facets of government spending, including education. Photo credit: UN Photo/Milton Grant  Finance ministers,…

Samia Msadek |

Read in Mongolian.   Did you know that low-income Mongolians are better at managing daily finances than higher income earners, although those with better incomes are more likely to make provisions…

Siegfried Zottel, Shaun Mundy |

We are reviewing the 25 year partnership between Mongolia and the World Bank, one year at a time, and today we examine 2003.  GDP grew 7.0% that year, the highest growth rate since the transition…

Jim Anderson |

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 |

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 |

Volatility in financial markets gets wide attention in the public eye. Less noticed is what we in the development world call macroeconomic volatility—faster-than-desired swings in the broad forces…

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