It is striking how often countries that are
rich with oil, minerals or fertile land have
failed to grow more rapidly than those without.…
All of a sudden, the renminbi is being touted as the next big international currency. Just in the last year or two, the Chinese currency…
Just in the last year or two, the Chinese currency has begun to internationalize along a number of dimensions. A RMB bond market has grown…
Informal payments are a frequently overlooked source of local public finance in developing countries. We use microdata from ten countries…
Book abstract: Countries with an abundance of natural resources, many of which are in sub-Saharan Africa, often show a record of relatively…
American fiscal policy has been procyclical: Washington wasted the expansion period 2001–2007 by running budget deficits, but by 2011 had…
Seven possible nominal variables are considered as candidates to be the anchor or target for monetary policy. The context is countries in…
Novelists have a better track record than economists at foretelling the future. Consider
then Gary Shteyngart’s timely comic novel “Super…
Seven possible nominal variables are considered as candidates to be the anchor or target for monetary policy. The context is countries in…
Fiscal policy is taking centre stage. Among advanced countries, the news is bad; Europe’s periphery teeters, the UK slashes, the US…