Finance & Development, June 1999


Book Description

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.




Development as Freedom


Book Description

By the winner of the 1988 Nobel Prize in Economics, an essential and paradigm-altering framework for understanding economic development--for both rich and poor--in the twenty-first century. Freedom, Sen argues, is both the end and most efficient means of sustaining economic life and the key to securing the general welfare of the world's entire population. Releasing the idea of individual freedom from association with any particular historical, intellectual, political, or religious tradition, Sen clearly demonstrates its current applicability and possibilities. In the new global economy, where, despite unprecedented increases in overall opulence, the contemporary world denies elementary freedoms to vast numbers--perhaps even the majority of people--he concludes, it is still possible to practically and optimistically restain a sense of social accountability. Development as Freedom is essential reading.




A New Database on Financial Development and Structure


Book Description

This new database of indicators of financial development and structure across countries and over time unites a range of indicators that measure the size, activity, and efficiency of financial intermediaries and markets.




This Time Is Different


Book Description

An empirical investigation of financial crises during the last 800 years.




Protecting the Poor from Macroeconomic Shocks


Book Description

To minimize the harmful impact on poor people of macroeconomic shock, sound policies for dealing with crises, and an adequate public safety net should be in place before a crisis starts.







Will the Real "natural Trading Partner" Please Stand Up?


Book Description

Adherents of the "natural trading partner" hypothesis argue that preferential trade agreements are more likely to improve welfare if participating countries already trade disproportionately with each other. Opponents argue the opposite. Neither side is right. The hypothesis holds up only if two countries are "natural trading partners" in the sense that one country tends to import what the other exports.




Comparing the Performance of Public and Private Water Companies in the Asia and Pacific Region


Book Description

Efficiency indicators can be useful to regulators assessing the efficiency of an operation and the wedge between tariff and minimum costs. They allow regulators to control for factors over which the operators have no control (such as diversity of water sources, or water quality or user characteristics).




Inter-industry Labor Mobility in Taiwan, China


Book Description

The proximity of industries is strongly related to inter-industry labor mobility, and there is some evidence that workers who move to closely similar industries receive higher wages. Knowledge is transmitted more easily when industries operate, and workers work, in close physical proximity.




Income Gains to the Poor from Workfare


Book Description

A workfare program was introduced in response to high unemployment in Argentina. An ex-post evaluation using matching methods indicates that the program generated sizable net income gains to generally poor participants.