Since it opened in 1914, the Panama Canal has been one of the world’s most important trade assets and a marvel of engineering. Its expansion has doubled the canal’s cargo capacity, adding a new…

Philippe H. Le Houérou |

It is widely acknowledged that reducing emissions from deforestation could bring about one-third of the greenhouse gas emission reductions we need by 2030 to stay on a 2-degrees trajectory. But…

Tone Skogen |

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 |

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 |

Also available in: Arabic | French | Spanish In 2015 the world saw great momentum for climate action, culminating in a historic agreement in December to cut carbon emissions and contain global…

Andy Shuai Liu |