Conventional empirical models of monetary policy transmission in emerging market economies produce puzzling results: monetary tightening often leads to an increase in prices (the price puzzle) and depreciation...
Most forward-looking indicators and a strong labor market suggest near-term expansion although manufacturing exports weakened. Sustained disinflation has allowed the Bangko Sentral ng Pilipinas (BSP) to...
The Yemen Economic Monitor provides an update on key economic developments and policies over the past six months. It also presents findings from recent World Bank work on Yemen. The Monitor places these...
The Nigeria Development Update (NDU) is a World Bank report series produced twice a year that assesses recent economic and social developments and prospects in Nigeria, and places these in a longer-term...
This paper analyzes cycles in policy interest rates in 24 advanced economies over 1970–2024, combining a new application of business cycle methodology with rich time-series decompositions of the shocks...
The Yemen Economic Monitor provides an update on key economic developments and policies over the past six months. It also presents findings from recent World Bank work on Yemen. The Monitor places these...
The Yemen Economic Monitor provides an update on key economic developments and policies over the past six months. It also presents findings from recent World Bank work on Yemen. The Monitor places these...
After several years of negative shocks, global growth is expected to hold steady in 2024 and then edge up in the next couple of years, in part aided by cautious monetary policy easing as inflation gradually...
After several years of negative shocks, global growth is expected to hold steady in 2024 and then edge up in the next couple of years, in part aided by cautious monetary policy easing as inflation gradually...
This paper identifies two types of policy uncertainty measures–government spending and real interest rates–and their impact on macroeconomic activity in 54 advanced, emerging, and developing economies...
The global economy remains in a precarious state amid the protracted effects of the overlapping negative shocks of the pandemic, the Russian Federation’s invasion of Ukraine, and the sharp tightening of...
Global and domestic factors shape a country’s Fiscal and Monetary Policy Space (FMPS). In response to the COVID-19 crisis, many countries adopted unconventional measures to expand policy space, including...
The economy continues to contract, albeit at a somewhat slower pace. Public finances improved in 2021, but only because spending collapsed faster than revenue generation. Testament to the continued atrophy...
Green financial sector initiatives, including financial policies, regulations, and instruments, could play an important role in the low-carbon transition by supporting countries in the implementation of...
Nigeria’s growth prospects have improved compared to six months ago but the macroeconomic framework has weakened, increasing Nigeria’s vulnerability to external and domestic shocks. Reducing inflation...
Natural disasters can generate substantial damages to public and private sector infrastructure capital, generating macroeconomic losses through complex channels. To minimize the welfare impact of these...
The economy sustained its growth performance in Q4 2021, ending with a full-year growth of 5.6 percent. This positive news, along with the rapid decline in COVID-19 cases following an Omicron-led surge...
These remarks were delivered by the World Bank Group President David Malpass's at the interview with Tom Keene on Bloomberg Surveillance on January 18, 2022. He said that the solution for physical insecurity...
This guidance note was prepared by International Monetary Fund (IMF) and World Bank Group staff under a project undertaken with the support of grants from the Financial Sector Reform and Strengthening...