Macroeconomics and Growth

The following big questions guide the Macroeconomics and Growth Research work program:

1) What are the determinants of macroeconomic outcomes (especially growth)? How are those outcomes linked to institutions and resource allocation at the micro level?

2) What is the role of governments in raising and allocating resources? What should governments do over the long run and in response to shocks?

The work program is organized around the following interrelated areas:

Growth: Macro, regional (local), sectoral, firm growth; labor markets and human capital
Firms and Aggregate Outcomes: Allocation of production and finance; competition
Public economics/public finance: Domestic revenue mobilization, taxation, debt; government spending (fiscal policy, infrastructure, procurement); governance and institutions
International economics: International and domestic financial markets; exchange rates and monetary policy; globalization

FEATURED RESEARCH

Two men looking at a document together in a grain storage area

Taxation for Development: Rethinking Fair and Efficient Tax Systems for the Next Decade

Policy Research Talk, May 7, 2024

Event Information | More about Pierre Bachas

2023 Tax Conference on The Political Economy of Public Finances

5th World Bank/IFS/ODI Tax Conference: The Political Economy of Public Finances

Online and in London, September 21-22, 2023

Event Information and Agenda | 4th World Bank Tax Conference: Global Tax Equity

Partial view of the Long Term Growth Model book cover. It depicts the Trappen van Strada Reale in Valetta, Malta. 1900-1910

The Long Term Growth Model: Fundamentals, Extensions, and Applications

Policy Research Talk, Mar 21, 2023

Improving the Multilateral Pandemic Response

Policy Research Talk, June 13, 2022

Presentation | Video | Event Information | More about Tristan Reed

The Human Capital Index 2020 Update: Human Capital in the Time of COVID-19

January 2021

Report | Working Paper | Data Download

From Micro to Macro: Entry Barriers, Misallocation, and Aggregate Productivity

Policy Research Talk, February 23, 2021

LATEST WORKING PAPERS

The Sovereign Spread Compressing Effect of Fiscal Rules during Global Crises
Ergys Islamaj, Agustin Samano Penaloza, Scott James Sommers
World Bank Policy Research Working Paper 10741, March 2024

Inelastic Demand Meets Optimal Supply of Risky Sovereign Bonds
Matías Moretti, Lorenzo Pandolfi, Sergio L. Schmukler, Germán Villegas Bauer, Tomás Williams
World Bank Policy Research Working Paper 10735, March 2024

Lives, Livelihoods, and Learning: A Global Perspective on the Well-Being Impacts of the COVID-19 Pandemic
Benoit Decerf, Jed Friedman, Arthur Mendes, Steven Pennings, Nishant Yonzan
World Bank Policy Research Working Paper 10728, March 2024

How Large Are the Economic Dividends from Closing Gender Employment Gaps in the Middle East and North Africa?
Federico Ivan Fiuratti, Steven Michael Pennings, Jesica Torres Coronado
World Bank Policy Research Working Paper 10706, February 2024

Are Regional Fiscal Multipliers on EU Structural and Investment Fund Spending Large? A Reassessment of the Evidence
Federico Ivan Fiuratti, Desislava Enikova Nikolova, Steven Michael Pennings, Marc Tobias Schiffbauer
World Bank Policy Research Working Paper 10658, January 2024

More Working Papers

LATEST JOURNAL ARTICLES

Tax Equity in Low-and Middle-Income Countries
Pierre Bachas, Anders Jensen, Lucie Gadenne
Journal of Economic Perspectives vol. 38, Winter 2024

The Internationalization of China’s Equity Markets
Juan J. Cortina, Maria Soledad Martinez Peria, Sergio L. Schmukler, Jasmine Xiao
IMF Economic Review, January 2024

Bilateral international investments: The big sur?
Fernando Broner, Tatiana Didier, Sergio L. Schmukler, Goetz von Peter
Journal of International Economics, 103795, July 2023

Media's Influence on Citizen Demand for Public Goods
Philip Keefer, Stuti Khemani
Economic Development and Cultural Change, 2023

The Importance of Political Selection for Bureaucratic Effectiveness
James Habyarimana, Stuti Khemani, Thiago Scot
Economica, vol. 90, April 2023

Financing vaccine equity: funding for day-zero of the next pandemic
Ruchir Agarwal, Tristan Reed
Oxford Review of Economic Policy, vol. 38, December 2022

BOOKS AND REPORTS

nighttime city view with digital lines connecting buildings and lighted highway

Realizing the Promise of (Partial) Decentralization
Shanta Devarajan, Stuti Khemani, September 2023

Aerial view of Bargny. Inhabitants say in the last couple of decades, the water eroded more than 200 meters of coast.

Strengthening Personal Income Taxation in Senegal - Case Study

Pierre Bachas, Leo Czajka, Aissatou Diallo, Justine Knebelmann, Anaelle Toure, June 2023

The Economics of Water Scarcity in The Midde East and North Africa: Institutional Solutions

Dominick de Waal, Stuti Khemani, Andrea Barone, Edoardo Borgomeo, Amal Talbi, Rajesh Advani, Sally Zgheib, Mili Varughese, Mohamad Hamid, Luke Gates, Elvira Broeks Motta, April 2023

Going Viral: COVID-19 and the Accelerated Transformation of Jobs in Latin America and the Caribbean
Guillermo Beylis, Roberto Fattal Jaef, Michael Morris, Ashwini Rekha Sebastian, and Rishabh Sinha, Washington, DC: World Bank, September 2020

The Rise of Domestic Capital Markets for Corporate Financing

Facundo Abraham, Juan J. Cortina, and Sergio L. Schmukler, Washington, DC: World Bank, June 2019

Making Politics Work for Development: Harnessing Transparency and Citizen Engagement

Stuti Khemani, Ernesto Dal Bó, Claudio Ferraz, Frederico Finan, Corinne Stephenson, Adesinaola Odugbemi, Dikshya Thapa, and Scott Abrahams, Policy Research Report, Washington, DC: World Bank, 2016

More Books and Reports »