This book considers the impact of economic reforms on manufacturing performance and explores policy options for promoting manufacturing. Using country-specific case studies spanning Africa, South Asia, South East Asia and Latin America, the authors examine the evidence for and against both trade...

We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality, and trade openness appear to help...

In this chapter, we discuss whether or not governance is an important source of variation in development experiences. We draw four main conclusions. First, governance is best thought of a subset of institutions and as such emphasis on governance is consistent with much recent academic work....

The 1980s have seen the beginnings of a change of heart among developing country policymakers, as the import-substitution consensus of the previous decade has all but evaporated. It is paradoxical that the 1980s should have become the decade of trade liberalization in LDCs, since this has also...

This paper uses annual aggregate data for 36 low or middle income countries covering the period 1995-2001 to test the responsiveness of investment to the sources of finance under (un)favourable regimes for investment. Two sources of private investment finance are considered: private investment...

There has been a very rapid rise since the early 1990s in foreign reserves held by developing countries. These reserves have climbed to almost 30 percent of developing countries' GDP and 8 months of imports. Assuming reasonable spreads between the yield on reserve assets and the cost of foreign...