Portfolio Constraints and Contagion in Emerging Markets
Anna Ilyina

To Buy or Not to Buy? Uncertainty, Irreversibility, and
Heterogeneous Investment Dynamics in Italian Company Data
Stephen R. Bond and Domenico Lombardi

Primary Surplus Behavior and Risks to Fiscal Sustainability in Emerging Market Countries: A "Fan-Chart" Approach
Oya Celasun, Xavier Debrun, and Jonathan D. Ostry
Link to data and programs

How Should Subnational Government Borrowing Be Regulated?
Some Cross-Country Empirical Evidence
Alexander Plekhanov and Raju Singh

The Potential of Foreign Aid as Insurance
Stéphane Pallage, Michel A. Robe, and Catherine Bérubé

Parity Reversion in Real Exchange Rates: A Puzzle or a Nonissue?
Jacques J. Polak

Special Data Section
Measuring Financial Development in the Middle East and North Africa:
A New Database
Susan Creane, Rishi Goyal, A. Mushfiq Mobarak, and Randa Sab

Volume 53 Index