Working Paper

This paper surveys 50 years of empirical research on the macroeconomic impact of aid, looking mainly at studies examining the link between aid and growth. It argues that studies dating until the late 1990s produced either contradictory or...

• Economic assistance and foreign aid
• Econometric models (Economic development)
• Macroeconomics

Working Paper

The world lottery market now amounts to at least US$126 billion in sales. World market sales for all gaming products (public, charitable and commercial) total some US$1 trillion, of which Internet gambling accounts for US$32 billion. This paper...

• Economic assistance and foreign aid
• Economic development
• Millennium Development Goals

Working Paper

This paper considers asset holdings in rural Ethiopia. It shows that households own mostly non-financial assets and that the composition of asset portfolios varies significantly with the household’s overall wealth and its exposure to uncertainty. As...

• Equality and inequality
• Households
• Poverty

Working Paper

Using a vector error-correction model, I explore the short-run dynamics and long-run linkages between financial reform and the mobilization of domestic saving in Morocco. In the short run, financial depth (volume of intermediation) is shown to have a...

• Capital market
• Financial institutions
• Saving and investment

Blog

by George Mavrotas January 2009

George Mavrotas While recent years have witnessed new interest in the finance–growth nexus, the relationship between domestic resource mobilization...

• Banking
• Capital market
• Financial institutions

Working Paper

• Free trade
• Globalization
• International finance

Working Paper

Traditionally, the difference between income and expenditure reported in household surveys is used for estimation of savings at the household level. However, persistent deviation in consumption–income ratios by household income brackets raises...

• Households
• Public welfare
• Saving and investment

Working Paper

The paper primarily investigates the interrelationship between financial sector development and poverty reduction in Ghana. This is done using time-series data from the World Development Indicators from 1970-2001. The main findings are, first, that...

• Finance infrastructure
• Poverty
• Saving and investment

Policy Brief

The first Millennium Development Goal aims to halve the number of people in the world living in extreme poverty. In this Research Brief, emanating from the UNU-WIDER project on ‘Fragility and Development’, the premise is that we should also be...

• Environmental economics
• Households
• Poverty

Working Paper

The poor can and do save, but often use formal or informal instruments that have high risk, high cost, and limited functionality. This could lead to undersaving compared to a world without market or behavioural frictions. Undersaving can have...

• Banking
• Choice
• Consumption

Working Paper

Four "gaps" or restrictions on capacity growth -- from available saving and foreign exchange, investment demand (with crowding-in of private by public capital formation), and ex ante discrepancies between inflation rates needed on the one hand to...

• Balance of payments
• Capital budget
• Foreign exchange

Journal Article

In a dynamic panel data model allowing for error cross-section dependence, output volatility is found to impede sustainable development. Through a financial development channel (liquidity liability ratio), output volatility exerts a significant...

• Business cycles
• Capital investments
• Economic development

Working Paper

• Banking
• Economic development
• Economic policy

Working Paper

This paper discusses the process, problems and impacts of the financial sector reform in Indonesia, particularly since the late 1980s. The reform has encouraged a surge in private sector capital inflows to supplement the already high domestic savings...

• Capital market
• Financial institutions
• Fiscal policy

Working Paper

Capital markets facilitate capital growth by mobilizing savings and converting them into investments, and they are therefore a stimulant of economic growth. There is evidence that countries with high savings rates tend to grow faster. Although most...

• Capital market
• Domestic savings
• Investments

Working Paper

This paper examines trends and determinants of gross domestic savings in Tanzania using data for the period 1990–2020. The autoregressive distributed lag approach is employed to empirically analyse the short-run and long-run relationships. There has...

• Domestic savings
• Saving
• Tanzania