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Macroeconomics and Growth

Growth is the essential ingredient for sustained poverty reduction. The research program focuses on identifying the contribution of policies and institutional changes to the diversity in growth and aggregate economic performance around the world. Studies are organized around three broad themes: foundations of growth, macroeconomic stability and international finance, and governance and political economy.

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Research Highlights 2007

Developing Countries: A Strategy for Macroeconomic Stability
March 7, 2008
With financial markets being in a state of turmoil, developing countries—often vulnerable to shocks from the outside that are beyond their control—are concerned about possible threats to their own macroeconomic stability. 
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Keefer-Loayza book cover imageTo what extent are terrorism and development related? What are the relative weights of the economic, political, and social aspects of development? What is the development impact of different responses to terrorism?   More...
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Developing Countries: A Strategy for Macroeconomic Stability
March 7, 2008
With financial markets being in a state of turmoil, developing countries—often vulnerable to shocks from the outside that are beyond their control—are concerned about possible threats to their own macroeconomic stability.  Full Text
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Informality among Formal Firms and Access to External Finance
February 15, 2008, Roberta Gatti & Maddalena Honorati
Recent research shows that when informality—defined as self-reported lack of tax compliance by firms—is high, access to credit is low. The observed credit constraints most likely relate to the lower value placed on balance sheets and financial disclosure by credit institutions in environments where tax evasion is diffused.
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Macro and Growth Seminar Series

Featured Resources
Fiscal Policy, Stabilization, and Growth: Prudence or Abstinence? (October 2007)
Emerging Capital Markets and Globalization (2007)
Economic Growth in Latin America and the Caribbean: Stylized Facts, Explanations, and Forecasts (April 2005)
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