Do poverty traps exist? by Aart Kraay and David McKenzie published by World Bank (4/2014). “This paper reviews the empirical evidence on the existence of poverty traps, understood as self-reinforcing mechanisms through which poor individuals or countries remain poor….
Government spending multipliers in developing countries – Evidence from lending by official creditors Aart Kraay published by World Bank (06/2012). “…The key identifying assumption is that loan approvals, and the decision to embark on the associated spending plans, do…
“How large is the government spending multiplier ? evidence from World Bank lending” by Aart Kraay. “This paper proposes a novel method of isolating fluctuations in public spending that are likely to be uncorrelated with contemporaneous macroeconomic shocks and…
