Mr. Aasim M. Husain

Global Implications of Lower Oil Prices

The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have ...

Distortionary Taxation and the Debt Laffer Curve

This paper highlights the importance of the role of the domestic tax system in determining the economic consequences of an external debt overhang. A s...

Sovereign Debt Relief Schemes and Welfare

This paper shows that concerted debt reduction may be welfare-improving even when the investment disincentive effect of a debt overhang is not large e...

Saving Trends in Southeast Asia

A Cross-Country Analysis

This paper investigates the long-run pattern of private saving in Indonesia, Malaysia, Singapore, and Thailand. These countries have not only maintain...

Does Sequencing of Privatization Matter in Reforming Planned Economies?

Although a centerpiece of the reform process in Central and Eastern Europe, large-scale privatization cannot be undertaken all at once and policymaker...

Evolution and Performance of Exchange Rate Regimes

Using recent advances in the classification of exchange rate regimes, this paper finds no support for the popular bipolar view that countries will ten...

Debt Reduction and New Loans

A Contracting Perspective

International debt contracts can incorporate—at least implicitly—contingencies governing debt reduction. This paper examines a series of debt cont...