In this quarter's lead article, "COVID-19: Fiscal Implications and Financial Stability in Developing Countries," the authors describe how the COVID-19 pandemic impacted financial stability across the world, specifically in developing countries. In 2020, the World Bank and the International Monetary Fund pledged $1.16 trillion to assist emerging economies through the pandemic. However, this article finds that $1.16 trillion would not have been enough in a worst-case scenario, such as a rollover crisis.
Other articles in the Review cover research on total-factor productivity and gains from trade, counterterrorism policy, and the impact of family income on college selection.
