Luis Serven

Senior Adviser

LUIS SERVEN is Research Manager for Macroeconomics and Growth in the Development Research Group. After joining the Bank in 1988, he worked at the Research department, and between 1999 and 2004 he managed the regional research program on Latin America and the Caribbean. Prior to joining the Bank he worked as a senior researcher at FEDEA and taught at the Universidad Complutense of Madrid, MIT and CEMFI. His recent research focuses on open economy macroeconomics, fiscal policy and growth, exchange rate regimes, international portfolio diversification, saving and investment determinants, and microeconomic regulation and growth. He holds a Bachelor in Economics from the Universidad Complutense de Madrid and a Ph.D. in Economics from the Massachusetts Institute of Technology.

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World Bank working papers and publications

1 .The World Bank research observer 27 (1)
2 .The World Bank research observer 26 (2)
3 .Productivity, welfare and reallocation : theory and firm-level evidence
4 .Undervaluation through foreign reserve accumulation : static losses, dynamic gains
5 .The World Bank research observer 25 (1)
6 .Business regulation and economic performance
7 .Medium-term business cycles in developing countries
8 .Too poor to grow
9 .Informality in Latin America and the Caribbean
10 .Are all the sacred cows dead ? implications of the financial crisis for macro and financial policies
11 .Infrastructure and economic development in Sub-Saharan Africa
12 .The World Bank research observer 23 (2)
13 .Real exchange rates, saving and growth : is there a link ?
14 .The World Bank research observer 23 (1)
15 .Fiscal redistribution and income inequality in Latin America
16 .Fiscal rules, public investment, and growth
17 .Walking up the down escalator : public investment and fiscal stability
18 .The World Bank research observer 21 (2)
19 .A normal relationship ? Poverty, growth, and inequality
20 .Getting real about inequality : evidence from Brazil, Colombia, Mexico, and Peru
21 .The World Bank economic review 19 (3)
22 .The impact of regulation on growth and informality - cross-country evidence
23 .Regulation and macroeconomic performance
24 .Macroeconomic stability in developing countries - How much is enough?
25 .The effects of infrastructure development on growth and income distribution
26 .Trends in infrastructure in Latin America, 1980-2001
27 .Country Portfolios
28 .Tango with the Gringo: the hard peg and real misalignment in Argentina
29 .Greenfield foreign direct investment and mergers and acquisitions - feedback and macroeconomic effects
30 .The anatomy of a multiple crisis : why was Argentina special and what can we learn from it?
31 .Do capital flows respond to risk and return?
32 .World market integration through the lens of foreign direct investors
33 .Real exchange rate uncertainty and private investment in developing countries
34 .Pricing currency risk : facts and puzzles from currency boards
35 .The World Bank economic review 14 (3)
36 .What drives private saving around the world?
37 .External sustainability : a stock equilibrium perspective
38 .Measuring aid flows : a new approach
39 .Macroeconomic uncertainty and private investment in developing countries - an empirical investigation
40 .Uncertainty, instability, and irreversible investment : theory, evidence, and lessons for Africa
41 .Does public capital crowd out private capital? : evidence from India
42 .Terms-of-trade shocks and optimal investment : another look at the Laursen-Metzler effect
43 .Capital goods imports, the real exchange rate, and the current account
44 .The World Bank research observer 7 (1)
45 .Anticipated real exchange-rate changes and the dynamics of investment