This paper shows that China's lending boom to developing country sovereigns has largely ended and that debt distress and defaults are…
This paper shows that China has launched a new global system for cross-border rescue lending to countries in debt distress. It builds the…
Two big questions look somewhat different than they did 10 or 20 years ago. First: would the long-term trend of globalization continue?…
Investors worldwide are closely watching the steep decline in China’s stock market. The Shanghai Stock Exchange Composite Index is down…
It is tempting to view economic events in China through a single template: the view that they are driven by government intervention because…
What is the socially optimal level of liquidity in a retirement savings system?
Liquid retirement savings are desirable because liquidity…
America’s two political parties rarely agree, but one thing that unites them is their anger about ‘currency manipulation’, especially by…
Financial crises cast a long shadow on investment. For nine major Asian economies, average investment as a share of GDP declined sharply…
Conventional wisdom suggests that after a spectacular economic performance during the 1970s and 1980s, Japan has endured two “lost decades…
This article describes a multidisciplinary study of market-based policies for controlling air pollution in China. While previous studies…