Subtopics

Economic Growth  
Examines the contribution of policies to the diversity in growth performance across the world, with special attention to complementarities among different policies and reforms, country-specific initial conditions, and the consequences of growth for income distribution and poverty reduction.

Institutions and Governance  
Examines the impact of governance on multiple dimensions of economic performance, from service delivery to the effectiveness of pro-growth policies; explores the social and political incentives for governments to make decisions in the interest of citizens; and assesses policy responses to poor governance environments.

International Finance
Examines the impact of financial globalization and financial development on growth and macroeconomic performance. The topics under study include capital flows, exchange rate policy, aggregate risk diversification, the propagation of financial shocks across countries, and the macroeconomic effects of aid and debt forgiveness.

Investment Climate and the Microeconomics of Growth
Analyzes how the various dimensions of the business environment—property rights, rule of law, regulatory framework, access to financial and infrastructure services—provide the incentives and opportunities for firms to invest, create jobs, and expand.

Macroeconomic Volatility
Studies the forces behind the high macroeconomic instability faced by developing countries, the role of country-specific institutional and structural features in amplifying or mitigating the effects of shocks, and the policy responses to limit the frequency and impact of disturbances.