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

	Income Risk, Income Mobility and Welfare Working Paper 6254, October 2012
	Heterogeneity in subjective wellbeing : an application to occupational allocation in Africa Working Paper 6244, October 2012
	Making Up People—The Effect of Identity on Preferences and Performance in a Modernizing Society Working Paper 6223, October 2012
	Sovereign Defaults and Expropriations : Empirical Regularities Working Paper 6218, October 2012
	How Firms Use Domestic and International Corporate Bond Markets Working Paper 6209, September 2012
	The Persistence of (subnational) Fortune : Geography, Agglomeration, and Institutions in the New World Working Paper 6187, September 2012
	Why Follow the Leader ? Collective Action, Credible Commitment and Conflict Working Paper 6179, August 2012
	Does the Minimum Wage Affect Employment? Evidence from the Manufacturing Sector in Indonesia Working Paper 6147, July 2012
	Financial Globalization in Emerging Countries : Diversification vs. Offshoring Working Paper 6105, July 2012
	More articles and briefs	More Working Papers

Permanent URL for this page: http://go.worldbank.org/E5RR830FI1

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

G-20 Leaders Summit - Cannes

2011/12 Macro and Growth Seminar Series

June 21, 2012, Did Unconventional Interventions Unfreeze the Credit Market?, Hui Tong (IMF), MC9-100, 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