Countries with high incomes, diversified production, stronger institutions, and typically deeper financial and policy capacity than emerging economies.
A problem caused by hidden information before a transaction, where the riskiest or lowest-quality participants are most likely to accept the offered terms.
A framework for analyzing how contracts, incentives, and monitoring can align an agent's behavior with a principal's goals under imperfect information.
A transfer of money, goods, or services intended to relieve hardship or support development, with important trade-offs around incentives and effectiveness.