15-December-2010
English
The euro area financial system took excessive risks during the global credit boom, which in some countries led to an unsustainable increase in credit, higher asset prices and housing booms.
15-December-2010
English
This paper considers the increase in current account imbalances in euro area countries since the early 1990s.
15-December-2010
English
Some euro area countries accumulated large and persistent external imbalances during the upswing, revealing important weaknesses in the macroeconomic management of the monetary union.
15-December-2010
English
There is growing interest in the role of independent fiscal institutions, or fiscal councils, in helping to improve fiscal performance.
15-December-2010
English
This paper describes the dynamics of the external positions of euro area countries since the formation of EMU.
14-December-2010
English
Despite large differences across countries, Latin America’s average investment-to-GDP ratio and the overall quality of infrastructure in the region are relatively low by international comparison.
14-December-2010
English
This paper tests the hypothesis that, by giving people more voice in the government decision-making process, fiscal decentralisation fosters social capital, measured in terms of interpersonal trust.
9-December-2010
English
Turkey is recovering from its most severe recession in several decades.
9-December-2010
English
In the 2000s, Turkey has enjoyed rapid catching–up. This was possible despite the adverse business environment, as the semi–formal and informal economy had a significant contribution to the expansion of the private sector.
9-December-2010
English
Turkey is recovering from a severe recession. Once growth gains full speed, the authorities will likely face the challenge of widening external imbalances and of ensuring a smooth functioning of the financial markets.