Smithsonian Agreement

The Smithsonian Agreement was the understanding by which the Organisation for Economic Co-operation and Development (OECD). . .

Regional development banks: Stepping Up to the Future

TheRDBs, likemost multilateral development banks, are confrontedwith multifaceted challenges from a changing environment and the evolving financing needs of their members. . .

Regional development banks: Lending for Development

The RDBs’ mandate has evolved over time, as has the rationale for development finance.

Regional development banks

Regional development banks (RDBs) play a critical role in the international financial architecture.

Political economy of policy reform: Empirical Evidence

Given the experiences of emerging and transition economies what has been the experience of big bang versus gradualism? The question is not easy to answer. . .

Political economy of policy reform: Costs and Benefits of Gradual Reform

We can summarize this discussion by considering the costs and benefits of gradual reform. The most important cost is simply the delay in improved performance. 

Political economy of policy reform: Reversal Costs

A big bang strategy involves high reversal costs, which are often considered to be an advantage ex post since they reduce the reversibility of enacted reforms. . .

Political economy of policy reform: Big Bang versus Gradualism

An important debate in the literature on policy reform concerns the dimensionality of reform: Shall reform be piecemeal or comprehensive? In the literature on economic transition. . .

Political economy of policy reform: Implementing Reforms

Fernandez and Rodrik (1991) developed a model of status quo bias in reform that has become classic in the literature.

Political economy of policy reform

Policy reforms create winners and losers. Hence, implementation of policy reforms requires attention to political economy.

Назад Вперед