This paper extends the World Bank's Long-Term Growth Model (LTGM) with the addition of a natural resource sector to analyze how long-run growth evolves in resource-rich countries and the growth impacts...
Malaysia is no stranger to external shocks affecting its macroeconomy. Over the past two decades, it was buffeted by the 1997 Asian Financial Crisis (AFC), the 2001 global slowdown after 9/11, and the...
Dutch Disease is a condition in which a sudden increase of resource wealth from an extractive sector (such as oil, gas, coal, or mining) undermines other areas of the economy (such as agriculture, manufacturing...
This paper studies future poverty, inequality, and shared prosperity outcomes using a panel data set with 150 countries over 1980-2014. The findings suggest that global extreme poverty will decrease in...
The World Bank Group (WBG) is strengthening its partnerships with upper-middle-income countries and high-income countries to leverage private and public finance, and to create knowledge and new solutions...
Growth in global trade has been slow since 2012. While global trade downturns are not unprecedented, the observed change in the relationship of trade to GDP poses the question whether the trade slowdown...
The paper introduces a Bayesian cross-entropy forecast (BCEF) procedure to assess the variance and skewness in density forecasting. The methodology decomposes the variance and skewness of the predictive...
This brief highlights the importance of the agribusiness sector as a pillar for development. It provides a framework to measure internationally traded agribusiness and discusses some patterns of world...
Moderate and gradual changes of the real exchange rate are beneficial for the economy to help it attain domestic and external equilibrium. They should not be feared. However, large and sharp devaluations...
This paper uses a three-step Bayesian cross-entropy estimation approach in an environment of noisy and scarce data to estimate behavioral parameters for a computable general equilibrium model. The estimation...