Growth-Linked Securities

John Williamson was a senior fellow at the Peterson Institute for International Economics, US, from 1981 to 2012. He was project director for the UN High-Level Panel on Financing for Development (the Zedillo Report) in 2001 and on leave as chief economist for South Asia at the World Bank during 1996-99. He has taught as an economics professor at several universities, including Pontificia Universidade Catolica do Rio de Janeiro, University of Warwick, Massachusetts Institute of Technology, University of York, and Princeton University. John was also adviser to the International Monetary Fund (1972-74); and economic consultant to the UK Treasury (1968-70).

Chapter 1: Introduction.- Chapter 2: History and Precedents.- Chapter 3: The Variants of GDP-Linked Securities.- Chapter 4: The Benefits of GDP-Linked Securities.- Chapter 5: The Costs of GDP-Linked Securities.- Chapter 6: Topics in the Demand for GDP-Linked Securities.- Chapter 7: Topics in the Supply of GDP-Linked Securities.- Chapter 8: GDP Revisions.- Chapter 9: Would BM Really be Anti-Cyclical?.- Chapter 10: Selecting the Best Form .- Chapter 11: The Disadvantages of Financial Innovation.- Chapter 12: Concluding Remarks.