An Imbalance in Global Banks’ Dollar Funding
By John Caparusso, Yingyuan Chen, Hideo Hashimoto, David Jones, Will Kerry and Aki Yokoyama
June 12, 2018
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The US Treasury is issuing more T-bills, potentially putting upward pressure on the interest rates non-US banks must pay for short-term dollar funding (photo: Jennifer Hack/KRT/Newscom)
For companies and investors outside the United States, the dollar is often the currency of choice. Surprisingly, though, US banks play only a limited role in lending dollars to international borrowers. Most of the $7 trillion in banks’ dollar lending outside the United States is handled by banks based in Europe, Japan and elsewhere. Continue reading “An Imbalance in Global Banks’ Dollar Funding” »
5 Things You Need to Know About the IMF and Climate Change
By Ian Parry
June 8, 2018
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A polar bear on shrinking ice in the Arctic: climate change means the world is getting hotter (photo: Sven-Erik Arndt/Newscom)
The world is getting hotter, resulting in rising sea levels, more extreme weather like hurricanes, droughts, and floods, as well as other risks to the global climate like the irreversible collapsing of ice sheets. Continue reading “5 Things You Need to Know About the IMF and Climate Change” »
Chart of the Week: The Rise of Corporate Giants
By Federico J. Díez and Daniel Leigh
June 6, 2018
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The market power of “superstar” companies in advanced economies is growing (photo: iStock by Getty Images)
The growing economic wealth and power of big companies—from airlines to pharmaceuticals to high-tech companies—has raised concerns about too much concentration and market power in the hands of too few. Continue reading “Chart of the Week: The Rise of Corporate Giants” »
Chart of the Week: Distribution of Globalization’s Gains
By IMFBlog
May 31, 2018
A garment factory in Ethiopia, which globalization has helped to boost its growth (photo: Kay Neitfeld/Newscom).
While globalization is generally good for economic growth, the benefits are subject to diminishing marginal returns, according to a recent study of 147 countries from 1970 to 2014. The study looks at how globalization affects the distribution of incomes across and within countries. Continue reading “Chart of the Week: Distribution of Globalization’s Gains” »
Our Digital Future
May 30, 2018
“Money makes the world go around,” Liza Minnelli famously sang in the movie Cabaret. Money has for centuries been central to human relationships. Loss of faith in its value can result in economic and political instability, even war. In the past few years, financial technology—fintech for short—has caught the world’s imagination by offering alternatives to traditional means of payment. Will digitalization redefine money? In this issue, we explore the possible consequences, good and bad. Continue reading “Our Digital Future” »
Creating a Better Global Trade System
May 29, 2018
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Engineers inspect the 3D printing of a bicycle frame in California: trade in services has risen dramatically and the use of technology is changing how countries trade with each other (photo: Stephen Lam/Reuters /Newscom).
Recent news on global trade has tended to focus on protectionist measures and diplomatic tensions. These challenges have raised concerns over growth and jobs across the world. Continue reading “Creating a Better Global Trade System” »
Chart of the Week: Greenery and Prosperity
By João Tovar Jalles and Prakash Loungani
May 21, 2018
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Brandenburg, Germany: in three advanced economies—Germany, the United Kingdom, and France—emissions have fallen despite the increase in incomes (photo: Caro / Kaiser/Newscom).
Economic growth has traditionally moved in tandem with pollution. But can countries break this link and manage to grow while lowering pollution?
Continue reading “Chart of the Week: Greenery and Prosperity” »
Mapping Income Polarization in the United States
By Ali Alichi and Rodrigo Mariscal
May 15, 2018
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Investment in education an important countervailing force in addressing income inequality (photo: Istock by Getty Images).
When it comes to income inequality among American households, outcomes have varied widely across the 50 U.S. states. The impact of international competition gets a lot of the blame, along with automation, in states that have fared the worst. Continue reading “Mapping Income Polarization in the United States” »
Trust and the Future of Multilateralism
By David Lipton
May 10, 2018
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Where trust exists and is reciprocated—where there is “confidence” in policies, institutions and systems—economies will achieve more (photo: iStock by Getty Images).
We live in an era of doubts and questions about the global order. We have seen an erosion of trust in bedrock institutions—political parties, national governments, regional authorities, and among international trade and investment partners. Continue reading “Trust and the Future of Multilateralism” »
Malta’s Good Bet
By IMFBlog
May 7, 2018
Marsaxlokk Harbor, Malta. Not only tourist paradise: the country’s economy makes profits on the betting and gambling industry (photo: iStockPhoto/Andrey Danilovich).
Known mostly for its azure seas and spectacular old towns, Malta has also become a hub for gambling and betting companies: nowhere else in the European Union does this sector account for such a large part of the economy as on the island south of Sicily in the Mediterranean Sea. While the gambling and betting boom contributes to the country’s trade balance and job creation, it also draws attention to a skills shortage and infrastructure gaps the sector is grappling with, a recent IMF paper shows. Continue reading “Malta’s Good Bet” »
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