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UNU-WIDER Interview with Dr Kaushik Basu29 November 2012 Carl-Gustav Lindén In November 2012 UNU-WIDER had the pleasure of hosting a public event with Dr Kaushik Basu, the newly appointed...
122 UNU-WIDER articles, publications, projects, experts...
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Blog
Africa’s Low Hanging Fruits23 April 2014 Justin Yifu Lin and Yan Wang At the onset of its miraculous rise in 1979, China had been trapped in poverty for centuries and was poorer...
Working Paper
Does Financial Openness Promote Economic Integration?We study whether financial openness facilitates the economic integration of formerly centrally planned economies with the EU-15. Two dimensions of economic integration are considered: cross-country convergence of per-capita incomes and bilateral...
Working Paper
Political Economy of Additional Development FinanceThe paper considers the political obstacles and supports for additional development finance and a number of possible devices through which advantage may be taken of the supports and the obstacles circumvented. It emphasizes the need for effective...
Working Paper
Development Assistance and Development FinanceUnderstanding the development effects of official aid is crucial to building a better bridge between research and policy. This paper reviews the current evidence regarding the impact of aid on growth and poverty reduction, and develops a new...
Working Paper
Innovative Sources for Development FinanceIn analysing proposals for new sources of development funding, there are several issues that arise across the board. What is the role of new sources in relation to existing overseas development assistance? Should we be seeking new sources that...
Working Paper
Remittances by EmigrantsRemittances, after foreign direct investment, are currently the most important source of external finance to developing countries. Remittances surpass foreign aid, and tend to be more stable than such volatile capital flows as portfolio investment...
Blog
Paralyzing debt burden threatens Africa’s largest economy
Apart from a ‘badly flawed’ national election, insecurity, and mass exodus of its young talents to the Global North (locally known as Japa), a...
Journal Special Issue
Aid Allocations and Development FinancingThe real value of official aid flows fell for much of the 1990s, and private capital flows to low-income countries remain mostly limited. The decline in aid flows may endanger the development process, since they finance much of the development budget...
Journal Special Issue
Development FinancingThe real value of official aid flows fell for much of the 1990s, and private capital flows to low-income countries remain mostly limited. The decline in aid flows may endanger the development process, since they finance much of the development budget...
Journal Special Issue
FDI to Developing CountriesAs one of globalisation's most visible dimensions, foreign direct investment (FDI) is central to the prospects for developing countries in the world economy. Key issues include the direction of causation between FDI and growth, the potential role of...
Journal Special Issue
Foreign Aid HeterogeneityThe present paper serves as an introduction to this special issue providing a justification for, and linking and introducing to the articles that follow. A central message emanating from the papers included in this special issue is that it is not...
Working Paper
The Provision of Global LiquidityThis paper analyses three major problems of the current international monetary system: the asymmetric-adjustment problem, dependence on the monetary policy of the main reserve-issuing country, and the large demand for self-insurance by developing...
Policy Brief
Governing GlobalizationThis policy brief is intended to outline suggestions and stimulate discussion at a time when the world community is thinking about, and is engaged in, a debate on global governance. The policy brief not only focuses on the reform of existing...
Policy Brief
New Sources of Development FinanceAs a result of the Five Year Review of the World Summit for Social Development, the UN General Assembly in September 2000 adopted a resolution calling for 'a rigorous analysis of the advantages, disadvantages and other implications of proposals for...
Journal Special Issue
Development AidFollowing on WIDER's work on Development Finance which has involved three projects since 2002, a development conference on 'Aid: Principles, Policies and Performance' was organized in June 2006. Aid is one of the most challenging development issues...
Policy Brief
Sustainability of External Development Financing to Developing CountriesExternal development finance consists of those foreign sources of funds that promote or at least have the potential to promote development in the destination countries if delivered in the appropriate form. This rather broad definition qualifies all...
Working Paper
China-Africa Co-operation in Structural TransformationThis paper examines China and Africa co-operation from the angle of structural transformation as a major driver of growth and job creation. Being a bit ahead in the structural transformation process, China can provide ideas, tacit knowledge...
Blog
How Will the Financial Crisis Impact on the Developing World and What Can Be Done About It?
Wim Naudé Following the US subprime mortgage crisis of 2007-2008, the world is now staggering from financial to economic crisis as many high-income...
Working Paper
A Land Cursed by its Wealth?In Angola, the availability of two abundant resources (oil and diamonds) has prolonged the conflict beyond its Cold War context. The geography and political economy of these resources were crucial to the course taken by the conflict. Matching the...
Working Paper
Loans or Grants?We argue in this paper that cancelling the debt of the poorest countries was a good thing, but that it should not imply that the debt instrument should be foregone. Debt and debt cancellations are indeed two complementary instruments which, if...
Working Paper
The Asian Currency CrisisWhat started in the summer of 1997 as a regional economic and financial crisis in East and Southeast Asia had developed into a global financial crisis within the span of a year. This crisis followed the crisis in the European Monetary System in 1992...
Working Paper
Capital Flows to Developing Countries of the International Financial SystemRecent financial crises, whose effects have been particularly severe in developing countries, have led to a wide-ranging debate on international financial reform. This debate has had to confront the implications of the huge growth of international...
Working Paper
Will the Emergence of the Euro Affect World Commodity Prices?The emergence of the euro as a key currency, perhaps eventually rivalling the US dollar in importance, may have important macroeconomic implications for industrial as well as developing economies in the years ahead. This paper focuses on two related...
Working Paper
EMU and the Developing CountriesThe purpose of this paper is to explore economic and political implications of Europe's Economic and Monetary Union (EMU) for developing countries. In strictly economic terms, influences will be communicated through both trade and financial channels...
Book Chapter
China-Africa Cooperation in Structural TransformationFrom the book: Oxford Handbook of Africa and Economics, Vol. 2.
Book Chapter
The provision of global liquidity: the global reserve systemPart of Book Resetting the International Monetary (Non)System
Working Paper
Structural Adjustment in AfricaThe main purpose of this paper is to argue that Ghana's economic recovery under SAP would have been much brighter if policy makers had not made some obvious errors in the application of the theory of 'comparative advantage' and in the selection...
Working Paper
Contribution Possible De L'excédent Japonais Au Développement Économique Mondial1. La communauté internationale doit mettre au point des methodes permettant de soutenir la croissance japonaise afin d'attenuer les effets de l'essoufflement americain et d'enrayer toute amorce de deflation mondiale.2. Alors que certaines des...
Working Paper
The International Debt ProblemThe aim of this paper is to raise a few open questions and to bring to light some mismatches between existing theories and the evidence. (1) It is shown that many standard international debt models unwittingly require some agents to behave...
Working Paper
Causes and Lessons of the Mexican Peso CrisisThis paper analyses in depth the causes of the Mexican peso crisis, so as to learn relevant lessons for similar crisis occurring in other developing or transitional economies. The study follows a relatively chronological order, examining first the...
Working Paper
Non-Financial Corporate Risk Management and Exchange Rate Volatility in Latin AmericaThis article studies the currency risk management of multinational companies with investments in Latin American countries. The analysis is centred on episodes of currency or financial shocks, searching into the behaviour of the financial management...
Blog
Why we need a World Financial AuthorityButcher shops and banks make an interesting contrast, as the late Cuban-American economist Carlos Diaz-Alejandro pointed out. Both may sell tainted...
Blog
Cost of Capital: The Real Price of Green Energy
4 July 2013 Carl-Gustav Lindén In recent years the price of green energy technology has come down dramatically. This means that European investments...
Working Paper
The Financial Crisis of 2008 and the Developing CountriesFollowing the financial crisis that broke in the US and other Western economies in late 2008, there is now serious concern about its impact on the developing countries. The world media almost daily reports scenarios of gloom and doom, with many...
Journal Article
Employment Effects of Multilateral Development Bank SupportPart of Journal Special Issue Aid and Employment
Blog
The West Is Finding it Harder to get Its Own Way in the World
Ian Morris The people of Europe and North America still produce two-thirds of the world’s GDP, spend more than two-thirds of its R&D dollars, and own...
Book
Financial Development, Institutions, Growth and Poverty ReductionThis volume explores the various linkages between financial development, institutions, growth and poverty reduction in low-income and transition countries. It is the result of a two-year research project undertaken by UNU-WIDER, and the strong range...
Book
Advancing DevelopmentLeading scholars and policymakers reflect on current thinking in development economics and on what may happen during the next two decades. Covering the major themes in development in an accessible way, this original and authoritative contribution...
Book Chapter
Foreign Financing of Developing Countries' Private SectorsPart of Book External Finance for Private Sector Development
Book Chapter
Innovative Sources to Meet a Global ChallengePart of Book New Sources of Development Finance
Journal Article
Introduction: Sustainability of Development FinancingPart of Journal Special Issue Development Financing
Journal Article
Aid Allocations and Development Financing IntroductionPart of Journal Special Issue Aid Allocations and Development Financing
Book Chapter
Capital Flows to Developing Countries and the Reform of the International Financial SystemPart of Book Governing Globalization
Journal Article
Financing the Provision of Global Public GoodsPart of Journal Special Issue Development Financing
Book Chapter
Proposals for Curbing the Boom-Bust Cycle in the Supply of Capital to Emerging MarketsPart of Book From Capital Surges to Drought
Book Chapter
Are World Financial Markets More Open?Part of Book Financial Openness and National Autonomy
Journal Article
Donor Funding of Multilateral Aid AgenciesPart of Journal Special Issue Development Financing
Book Chapter
Multilateral Development Banks and Private Sector FinancingPart of Book External Finance for Private Sector Development
Working Paper
Flight Capital and its Reversal for Development FinancingIn this paper, we review the theoretical and empirical literature on capital flight. First, we discuss the measurement of capital flight. Next, we provide information on the magnitude as well as the ‘burden’ of capital flight for a selected set of...
Working Paper
A Holistic Perception of Foreign Financing of Developing Countries' Private SectorsThe paper presents a comprehensive survey of the ‘shopping list’ of sources of external finance that are directly channeled to the business sector of developing countries. Generally, our analytical survey covers the 1970-2000 period, and includes the...
Working Paper
International Finance and the Developing WorldMuch has changed in international finance in the twenty years since UNU-WIDER was founded. This paper identifies five broad contours of what we might expect in the next twenty years: the flow of capital from ageing societies to the more youthful...
Working Paper
International Risk Tolerance, Capital Market Failure and Capital Flows to Emerging MarketsThe level, tenor and instability of capital flows from global financial markets towards developing countries are a major source of concern for macroeconomic managers, while their causes remain largely unexplained by economic theory. Country...
Working Paper
Debt Relief for Low-Income CountriesAfter analysing present, unsuccessful strategies of granting too little too late, a fair, transparent arbitration process (FTAP) on debts modelled after the principles of US Chapter 9 insolvency for debtors with governmental powers (municipalities)...
Working Paper
Simulating the Effects of Debt Relief in ZambiaThe HIPC initiative for debt relief in the poorest countries has been extended to cover more countries. Zambia is one the countries accepted under the enhanced initiative for a debt relief of US$ 3.8 billion. In this paper, the possible effects of...
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