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There has been substantial research in recent years examining the regional evolution of economic growth across states in Mexico - with a particular focus on the post North American Free Trade Agreement period. There is also a vast literature using cross-country regressions to examine institutional determinants of economic growth, including government transparency, or "corruption," as a key institutional variable. This paper uses more recently available data for Mexican states to both update the general state convergence/divergence literature, and incorporate into the analysis more recently developed state level indicators of institutional factors related to government transparency. The authors do not find a systematic relationship between measures of government transparency and gross domestic product per capita growth in Mexico during 2001-2005; however, they do find that corruption is negatively associated with the level of state gross domestic product per capita. The contrasting results may imply that more years of data are necessary to be able to establish statistically significant relationships between state growth rates and measures of corruption.

Achieving Shared Growth --- Bribery --- Bureaucracy --- Corrupt Officials --- Corruption --- Corruption variable --- Country data --- Economic development --- Economic growth --- Economic performance --- Economic Theory & Research --- Good governance --- Governance --- Governance Indicators --- Growth rate --- Growth rates --- Income --- Institutional environment --- International level --- Macroeconomics and Economic Growth --- Political Economy --- Poverty Reduction --- Property rights --- Public Sector Corruption & Anticorruption Measures --- Public Sector Development --- Tax system --- Transparency --- Veto power

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This paper provides an historical overview of both the evolution of the economic performance of the developing world and the evolution of economic thought on development policy. The 20th century was broadly characterized by divergence between high-income countries and the developing world, with only a limited number (less than 10 percent of the economies in the world) managing to progress out of lower or middle-income status to high-income status. The last decade witnessed a sharp reversal from a pattern of divergence to convergence-particularly for a set of large middle-income countries. The latter phenomenon was also driven by increasing economic ties among developing countries, and on the intellectual scale, increased knowledge generation and sharing among the developing countries. Re-thinking development policy implies confronting these realities: 20th century economic divergence, the experience of the handful of success stories, and the recent rise of the multi-polar growth world. The paper provides descriptive data and a literature survey to document these trends. The paper also provides a brief survey of the role of multilateral institutions-in particular, the World Bank-in this changing context and offers suggestions on how they can adapt their strategies to improve development outcomes.

Achieving Shared Growth --- Convergence --- Country Strategy & Performance --- Debt Markets --- Development --- Economic growth --- Economic Theory & Research --- Emerging Markets --- Macroeconomics and Economic Growth --- Structural transformation

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This paper provides an historical overview of both the evolution of the economic performance of the developing world and the evolution of economic thought on development policy. The 20th century was broadly characterized by divergence between high-income countries and the developing world, with only a limited number (less than 10 percent of the economies in the world) managing to progress out of lower or middle-income status to high-income status. The last decade witnessed a sharp reversal from a pattern of divergence to convergence-particularly for a set of large middle-income countries. The latter phenomenon was also driven by increasing economic ties among developing countries, and on the intellectual scale, increased knowledge generation and sharing among the developing countries. Re-thinking development policy implies confronting these realities: 20th century economic divergence, the experience of the handful of success stories, and the recent rise of the multi-polar growth world. The paper provides descriptive data and a literature survey to document these trends. The paper also provides a brief survey of the role of multilateral institutions-in particular, the World Bank-in this changing context and offers suggestions on how they can adapt their strategies to improve development outcomes.

Achieving Shared Growth --- Convergence --- Country Strategy & Performance --- Debt Markets --- Development --- Economic growth --- Economic Theory & Research --- Emerging Markets --- Macroeconomics and Economic Growth --- Structural transformation

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Leading economists address the ongoing challenges to economics in theory and practice in a time of political and economic crises.

Economic development --- Information technology --- Monetary policy --- Social change --- Change, Social --- Cultural change --- Cultural transformation --- Societal change --- Socio-cultural change --- Social history --- Social evolution --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Development, Economic --- Economic growth --- Growth, Economic --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Economic aspects --- E-books --- Economic development. --- Monetary policy. --- Social change. --- Economic aspects. --- BUSINESS & ECONOMICS / Development / Economic Development

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This paper analyzes the historical evolution of the international monetary system in the context of the rising role of developing countries in the world economy and the emerging multi-polar growth setting. It evaluates the stability of the current "non-system" and how the global economic context is likely to affect that stability in the coming years with potential adverse effects on both advanced and developing economies. Given the likely trend toward a multi-polar reserve currency system, the paper evaluates the stability of the emerging system, as well as the current proposals for reform of the international monetary system. The paper concludes that more ambitious reforms of the system may be needed to meaningfully reduce future global economic and financial instability.

Bretton Woods --- Currencies and Exchange Rates --- Debt Markets --- Economic Theory & Research --- Emerging Markets --- Fiscal & Monetary Policy --- Growth --- International Monetary System --- Macroeconomics and Economic Growth --- Monetary Policy --- Volatility