Research Program
Development Economics
Sovereign growth models, structural transformation, fiscal policy, and the political economy of development in frontier markets. CEE examines the choices that determine whether emerging economies converge with or diverge from global income levels.
Program Focus
Growth, Transformation, and Fiscal Space
Development economics in frontier markets is not a solved problem. The structural transformation pathways that worked for East Asia in the 1970s and 1980s are not available to today's frontier economies in the same form — the global trading environment has changed, the technology frontier has shifted, and the fiscal constraints are tighter.
CEE's Development Economics program studies the sovereign growth models that are actually working — and the ones that are not. We examine fiscal policy design, revenue mobilization strategies, and the political economy of reform in countries where the margin for error is small.
Our work is grounded in the conviction that development economics must engage seriously with the constraints that frontier market governments actually face — not the idealized conditions assumed in standard models.
Research Themes
Sovereign Growth Models
Analyzing the structural transformation pathways available to frontier economies — what works, what doesn't, and why the standard prescriptions often fail.
Fiscal Space & Revenue Mobilization
Examining how frontier governments can expand fiscal space through domestic revenue mobilization, expenditure rationalization, and debt management.
Industrial Policy in Frontier Markets
Studying the design and implementation of industrial policy in resource-dependent and low-income economies, with attention to political economy constraints.
Structural Transformation
Tracking the pace and pattern of structural change in frontier economies — from agriculture to manufacturing to services — and the policy levers that accelerate it.
Development Finance Architecture
Analyzing the evolving landscape of development finance — multilateral, bilateral, and private — and its implications for frontier market growth trajectories.
Program Data Products
EM Coverage Tracker
LiveQuantifying disparities between financial media attention and economic reality across 183 countries. The MCI metric compares each country's media share against its GDP share.
EM Fiscal Policy Monitor
Coming SoonTracking fiscal positions, revenue mobilization, and expenditure composition across emerging economies.
Frontier FDI Flows Tracker
Coming SoonMonitoring foreign direct investment flows into frontier markets by sector, source country, and investment type.
Program Publications
All Publicationsopinion
Opinion: How Oil Went from Kazakhstan's Greatest Asset to Biggest Liability
working paper
Sovereign Growth Models at a Crossroads: Navigating a New Global Economic Landscape
policy brief
A Pragmatic Policy Toolkit for Startup Ecosystems in Emerging Markets
tracker update
Yuan Adoption Tracker Update: Q3 2025
Development Advisory Work
CEE provides advisory support on growth strategy, fiscal policy design, and development finance architecture for sovereign clients.