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. About the program

Research Manager: Luis Serven

2011 Publications

IN FOCUS

Are Pension Funds Investing for the Long Term? New World Bank Research Shows “Not Quite”
Feature Story, Feb. 6, 2012

* Retirees expect pension funds to bring long-term gains
* Data from Chile shows pension fund managers prefer
short-term investments
* Herding behavior in pension funds' investment choices

FOCUS ON CRISIS

	Do Crisis Catalyze Creative Destruction? Firm -Level Evidence from Indonesia Manufacturing data from Indonesia reject the hypothesis that the East Asian crisis improved the reallocative process. Working Paper 5869, Nov. 2011
	Ladies First? Firm-Level Evidence on the Labor Impacts of the East Asian Crisis Within the same Indonesian firms, women experienced higher job losses than their male colleagues. Working Paper 5789, Sep. 2011
	Gross Capital Flows: Dynamics and Crises A new characterization of the joint behavior of international capital flows by foreign and domestic agents over the business cycle and during financial crises. Working Paper 5769, Aug. 2011
	How Resilient Were Emerging Economies to the Global Crisis? Contrary to popular perception, emerging market economies suffered growth collapses as large, or even larger, as those experienced by advanced economies during the crisis. But their response to the global shock also represented a break with the past. Working Paper 5637, Apr. 2011

RESEARCH ROUNDUP ON CLIMATE CHANGE

How Do Governments Respond After Catastrophes? Natural-Disaster Shocks and the Fiscal Stance
Estimates of the impact of geological, climatic, and other types of natural disasters on government expenditures and revenues suggest that, on average, budget deficits increase only after climatic disasters, but for lower-middle-income countries, the increase in deficits is widespread across all events. Working Paper, Feb. 2011
More>>

NEW WORKING PAPERS

	Experiments in Culture and Corruption: A Review Working Paper 6064, May 2012
	Excessive Financial Intermediation in a Model with Endogenous Liquidity Working Paper 6059, May 2012
	Correcting Real Exchange Rate Misalignment: Conceptual and Practical Issues Working Paper 6045, April 2012
	Productivity and the Welfare of Nations Working Paper 6026, Apr. 2012
	Do Middle Classes Bring Institutional Reforms? Working Paper 6015, Mar. 2012
	The Cross-Country Magnitude and Determinants of Collateral Borrowing Working Paper 6001, Mar. 2012
	Why Do Some Countries Default More Often Than Others? The Role of Institutions Working Paper 5993, Mar. 2012
	Using Pooled Information and Bootstrap Methods to Assess Debt Saustainability in Low Income Countries Working Paper 5978, Feb. 2012
	The Impact of Wealth on the Amount and Quality of Child Labor Working Paper 5959, Jan. 2012
	Do Informed Citizens Receive More…or Pay More? The Impact of Radio on the Government Distribution of Public Health Benefits Working Paper 5952 Jan. 2012
	Financial Distortions and the Distribution of Global Volatility Working Paper 5929 Jan. 2012
	More articles and briefs	More Working Papers

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Bank's Contribution to the G-20 (November 2011)

G-20 Leaders Summit - Cannes

2011/12 Macro and Growth Seminar Series

May 17, 2012, Back to Basics: Basic Research Spillovers, Innovation Policy and Growth, Ufuk Akcigit (Univ. of Penn.), MC10-100, from 12:30 - 2:00 pm

Most Recent and Upcoming Seminars

Previous Seminars

Blogs

Equilibrium fictions, societal rigidity, and affirmative action (April 2012)

Featured Resources

	Financial Development in Latin America and the Caribbean (2011)
	Innocent Bystanders : Developing Countries and the War on Drugs (2010)
	Business Regulation and Economic Performance (2010)
	More Books

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Macroeconomics and Growth