Fintech Quiz: How Much Do You Know?

By IMFBlog

March 12, 2018

Rapid advances in digital technology are transforming the financial services landscape (iStock by Getty Images).

From artificial intelligence to cryptography, rapid advances in digital technology are transforming the financial services landscape, creating opportunities and challenges for consumers, service providers, and regulators alike. This new wave of technology is often called “fintech” and the industry is thriving. Consumers worldwide are using two or more fintech services, sometimes without knowing they are using fintech services. Continue reading “Fintech Quiz: How Much Do You Know?” »

A Digital-Savvy Indonesia

By Tidiane Kinda and Ting Yan

February 22, 2018

Version in  中文 (Chinese), baˈhasa indoneˈsia (Indonesian)

A salesperson shows a customer the latest smartphones in a showroom in Jakarta, Indonesia: the use of mobile internet services continues to grow rapidly in the country (photo: Beawhiharta/Reuters/ /Newscom).

With the third largest youth population in the world and 130 million active social media users, Indonesia is poised to become the biggest digital economy country in Southeast Asia. To fully embrace the digital opportunity, Indonesia must enhance its infrastructure and increase internet penetration to lift economic growth and productivity.

According to a McKinsey report, digitization could expand Indonesia’s economy by 10 percent of GDP and add 3.7 million jobs by 2025. Continue reading “A Digital-Savvy Indonesia” »

Smartphones Drive New Global Tech Cycle, but Is Demand Peaking?

By Benjamin Carton, Joannes Mongardini, and Yiqun Li

February 8, 2018

 Demand for smartphones is highly cyclical and related to the release of new models (photo: iStock by GettyImages).

Over a decade of spectacular growth, demand for smartphones has created a new global tech cycle that last year produced a new smartphone for every fifth person on earth.

This has created a complex and evolving supply chain across Asia, changing the export and growth performance of several countries. While our recent analysis of Chinese smartphone exports suggests that the global market may be saturated, demand for other electronics continues to support rising semiconductor production in Asia. Continue reading “Smartphones Drive New Global Tech Cycle, but Is Demand Peaking?” »

Gamechanger: The Digital Payment Boom in India

By IMFBlog

January 5, 2018

Madhur Deora, CFO of PayTM: Mobile payment platforms in India are providing small loans to people who’ve never had access to credit (IMF photo).

What does a shoe shiner in India have in common with central bankers and finance ministers? They both can appreciate the digital-payment boom. It’s sweeping the world but has accelerated in India, where last November the government demonetized—declaring that 86 percent of the country’s currency in circulation would cease to be legal tender. Continue reading “Gamechanger: The Digital Payment Boom in India” »

Propping Up the Chinese Economy: Credit versus Fiscal Stimulus

By Sophia Chen and Lev Ratnovski

December 13, 2017

Version in 中文 (Chinese), Español (Spanish), 日本語  (Japanese)

Construction work Qingyuan , Guangdong, China : Fiscal stimulus is a powerful tool for growth (photo: Imagine China/Newscom).

Credit booms are addictive. Credit supports growth and the perception of wealth. Yet credit booms are risky, and are often followed by financial busts and economic slowdowns. The challenge is taming credit without hurting growth. Continue reading “Propping Up the Chinese Economy: Credit versus Fiscal Stimulus” »

Chart of the Week: The Walking Debt: Resolving China’s Zombies

By IMFBlog

December 11, 2017

Version in 中文 (Chinese), 日本語 (Japanese)

IMF research shows that resolving China’s zombie firms can boost productivity and long-term growth prospects (photo: DNY59/iStock by Getty Images).

China’s “zombies” are non-viable firms that are adding to the country’s rising corporate debt problem, and are bad business. Zombie firms are highly indebted and incur persistent losses, but continue to operate with the support of local governments or soft loans by banks—adding very little value to economic prospects. China has already made a lot of progress in resolving these firms, and should continue its efforts to send the zombies packing. Continue reading “Chart of the Week: The Walking Debt: Resolving China’s Zombies” »

More People, More Technology, More Jobs: How to Build Inclusive Growth

By Stefania Fabrizio and Andrea F. Presbitero

December 4, 2017

Versions in عربي (Arabic),  中文(Chinese),  Français (French), 日本語 (Japanese),  Русский (Russian)

Pretoria, South Africa: technicians work inside a new locomotive (photo: Zhai Jianlan Xinhua News Agency/Newscom).

Population growth and technological innovation don’t necessarily have to widen inequality in developing countries. They can also offer new opportunities to increase growth and create jobs: the long-term outcomes depend on today’s policy choices. But those choices are not easy because policies for sustained and inclusive growth may conflict with short-term needs. We look at the trade-offs and how to balance short- and long-term goals for sustainable and inclusive growth. Continue reading “More People, More Technology, More Jobs: How to Build Inclusive Growth” »

Chart of the Week: Women Workers Wanted in Japan

By IMFBlog

November 21, 2017

Versions in 中文(Chinese), 日本語 (Japanese)

A Japanese mother works at home with her child. Encouraging women to take on full time work and have children would help boost growth in Japan (photo: iStock by Getty Images).

Problem: Japan is the most aged society among advanced economies (almost 27 percent of its people are over 65). It also faces a shortage of labor (unemployment is just 2.8 percent). Both limit the country’s growth potential. Continue reading “Chart of the Week: Women Workers Wanted in Japan” »

The Unequal Burden of Rising Temperatures: How Can Low-Income Countries Cope?

By Sebastian Acevedo, Mico Mrkaic, Evgenia Pugacheva, and Petia Topalova

September 27, 2017

Versions in عربي (Arabic), 中文 (Chinese), Español (Spanish), Français (French), 日本語  (Japanese), Русский (Russian)

The Earth’s temperature is rising. This will shape the economic future of communities across the globe (photo: Leolintang/iStock by GettyImages).

The Earth’s temperature is rising and its climate is changing. The increase in temperatures will shape the economic future of communities and countries across the globe. All countries will feel the direct negative effects from unmitigated climate change. But as our research in Chapter 3 of the October 2017 World Economic Outlook shows, the effects of higher temperatures will not be equal everywhere and the brunt of the adverse consequences will be borne by those who can least afford it—low-income countries.  Continue reading “The Unequal Burden of Rising Temperatures: How Can Low-Income Countries Cope?” »

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