Decades of low inflation led to widespread use of dollar-denominated financial instruments with fixed interest rates and long maturities.…
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…
The authors emphasize that the world urgently requires trillions of dollars to invest in climate action and biodiversity protection to keep…
Concerns about fraud in welfare programs are common arguments worldwide against such programs. We conducted a survey experiment with over…
This article describes some of the challenges of effective governance for sustainability at the subnational level of government.
In the face of the trifecta of fiscal adversity currently facing governments as
a result of the COVID-19 pandemic, this report brings good…
This paper examines the problems of aligning budgeting goals with the UN Sustainable development goals, across many countries.
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…