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What Did You Do in the Currency Wars? (Part II)
Tony Addison The present currency turmoil is both a product and a cause of profound changes now underway in the global economy. Part 1 of this two...
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Blog
What Did You Do in the Currency Wars? (Part I)
Tony Addison The present currency turmoil is both a symptom and a cause of profound changes now underway in the global economy. In part 1 of this two...
Research Brief
DebtIn the twentieth and early twenty-first centuries, debt crises have plagued low-, middle-, and high-income countries at various times. Indebted countries have generally addressed balance of payments crises either by (a) obtaining International...
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
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
Impacts of Africa's Growing Debt on its GrowthThe main theme of this manuscript is to demonstrate that growth in Sub-Saharan African (SSA) countries has continued to decline under the burden of the foreign debt over the last fifteen years. After a decade of painful lost growth, the continent...
Working Paper
Mobilizing International Surpluses for World DevelopmentThe Study Group arrived at the following conclusions and recommendations: 1. Substantial surpluses on current account are likely to prevail for the next several years among many developed countries, and there is a need for their diversification...
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...
Book
Debt Relief for Poor CountriesAfter a massive international campaign calling attention to the development impact of foreign debt, the Heavily Indebted Poor Countries (HIPC) initiative is now underway. But will the HIPC Initiative meet its high expectations? Will debt relief...
Book Chapter
A Development-Focused Allocation of the Special Drawing RightsPart of Book New Sources of Development Finance
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...
Working Paper
Country Study 8Peru ran out of cash in July 1984; a year later President Garcia rejected an IMF agreement and limited debt service payments to 10 per cent of export earnings; and in mid-1986 the President said that Peru would pay 'when it chose and when it could1...
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