Publications

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Global economic growth is forecast to increase marginally over the next two years at 3.1 per cent in 2015 and 3.3 per cent in 2016, compared with an estimated growth of 2.6 per cent for 2014. An expected US interest rate increase, remaining euro area
Moderate global economic expansion in 2014, as post-crisis adjustments continued In 2015, developed economies to be led by a stronger U.S. economy, while downside risks remain significant in Japan and the euro area Developing economies to be led by East Asia, while several large emerging economies face internal and external challenges
Recent developments in globalization raise important issues regarding taxation policy and economic development. First, trends in capital income tax raise concerns about a possible race to the bottom or harmful competition. Second, lack of tax policy coordination results in large losses in tax revenue due to profit shifting by multinational corporations. These practices undermine revenue mobilization in the least developed countries, which also suffer from capital flight and other forms of illicit financial flows. This paper discusses how improved governance of the global financial system and enhanced harmonization in taxation policies may help address these important development problems.
Presentations at the national workshop on Graduation from the LDC category, 9-10 December 2014, Nay Pyi Taw, Myanmar
Download the World Economic Situation and Prospects Monthly Briefing No. 73
December 2014 Summary ?? Further appreciation of the U.S. dollar
Japan registers technical recession during the third quarter
Lower
Nepal was the first Least Developed Country to negotiate its accession to the World Trade Organization. The negotiation process was demanding, yet it succeeded in securing a relatively well-balanced accession package. The purpose of this paper is to describe the contours of the negotiation process and to share lessons learned. The paper details the onerous process involved in the accession of LDCs to the WTO and describes the context of Nepal's negotiating positions. Some distinctive aspects of Nepal's approach to the process of accession are highlighted and compared with the situation of some other LDCs.
Sharp decline of oil prices and renewed volatility in financial markets
Low inflation in Europe remains a concern
Diverging monetary policies in developed economies
Sharp appreciation of the U.S. dollar
Western European economy continues to struggle
Ebola takes severe tolls in West Africa