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The Next Wave of This Crisis
After all is said and done, this crisis had its genesis in US and European countries living beyond their means. This was reflected in large current account deficit which was financed by emerging...
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From Bubble to Bubble: Government Policy Blunders
Greedy speculators in housing and private bankers, financial innovation and failure of risk models, regulators and credit rating agencies were all deservedly blamed for the recent financial crisis....
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New Thinking on Macroprudential Regulations
The traditional micro-prudential regulations of bank-by-bank audit and supervision proved inadequate during the recent global financial crisis.
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The Day After Tomorrow: The Final Battle in the War Against Poverty
This is the third in a series of blogs where we take a look at the issues and the countries that will be at the forefront of the development agenda, not now, not next year, but over the next 2 to 5...
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The Day After Tomorrow: If You Want To Grow, Learn
Why is it that some countries are more developed than others? A country is “less developed” not only because it lack inputs (labor and capital) but because it uses them less efficiently. In fact,...
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How Public Spending Can Help You Grow
Last week’s State of the Union underscored the debate surrounding public spending as a measure to stimulate economic growth. President Barrack Obama argued that to “win the future” the US needs to make...
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How to Ascend after Declining?
The state of the global economy is now more troubled than what most pundits had predicted. The great recession of 2007-09 has left permanent scars and the global recovery has lost steam. In the...
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Diamonds May Be Forever, Natural Resource Wealth Is Not
Imagine a low-income country in the developing world suddenly discovering a large endowment of natural resources within its borders. Perhaps a large oil reserve is found just offshore, or a deposit of...
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Drugging Development
Drug trafficking is nothing new. But with the current levels of violence we are seeing, its effects on society and economic activity are staggering. From the suffering of victims, to increasing levels...
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Is Shadow Banking Dangerous for You?
From hedge funds to mortgage-backed securities, unregulated and risky activities have fallen out of favor since the Lehman Brothers debacle. Aggressive, casino-type behaviors and obscure transactions...
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Not All That Glitters Is Gold
Gross Domestic Product, better known as GDP, is the market value of all final goods and services produced within a country in a given period. That's why GDP per capita is widely used as a summary...
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A Nobel for Regional Integration
In awarding the 2012 Nobel Peace Prize to the European Union, the Swedish Royal academy recognized 60 years of achievements in European economic integration.
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Can Non-State Service Delivery Undermine Governments?
Whether it is in the U.S. presidential election campaign or as a result of the debt crisis in Europe, people on both sides of the Atlantic are debating the role of the state. Do we need more government...
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Where Rubber Hits the Road: Reforming Public Sector Management
In practice, theory is something else. I've already heard variants of this expression in several countries and languages. Very often from people referring to the gap between abstract, generic...
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Mobilizing Development via Mobile Phones
I'm sure I'm not the only one who uses my mobile phone for almost everything but to make a call. Thanks to technological advances and the explosion of social media, we text, tweet or do Facebook posts...
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