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Tariffs Do More Harm Than Good at Home

maurice-obstfeld2By Maurice Obstfeld

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

A longstanding challenge for the global economy is the possibility that some countries compete for export markets through artificially low prices. Political leaders and pundits sometimes propose import tariffs to offset the supposed price advantages and exert pressure for policy changes abroad. What proponents often fail to realize is that such tariff policies, while certainly hurting their targets, can also be very costly at home. And surprisingly, the self-inflicted harm can be substantial even when trade partners do not retaliate with tariffs of their own. Continue reading “Tariffs Do More Harm Than Good at Home” »

By | September 8th, 2016|Advanced Economies, Asia, Economic outlook, Employment, IMF, International Monetary Fund, U.S., Uncategorized|0 Comments
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Make in India: Which Exports Can Drive the Next Wave of Growth?

By Rahul Anand, Kalpana Kochhar, and Saurabh Mishra

The expansion of India’s exports of services between 1990 and 2013 has been nothing short of spectacular, putting India on a par with the world’s high-income economies in terms of service-product sophistication and as a share of total exports. This has created unique opportunities for continued growth. By contrast, when it comes to exports of manufactured goods, India has lagged behind its emerging-markets peers, both in quality and as a percentage of the total export basket, leaving substantial room for improvement.

Continue reading “Make in India: Which Exports Can Drive the Next Wave of Growth?” »

By | May 5th, 2016|Advanced Economies, developing countries, Emerging Markets, International Monetary Fund, U.S., Uncategorized|0 Comments
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Fair Play—Equal Laws for Equal Working Opportunity for Women

2014MDNEW_04By Christine Lagarde 

(Versions in 中文, Français, 日本語, Русский, عربي and Español)

Leveling the legal playing field for women holds real promise for the world—in both human and economic terms. Unfortunately, that promise remains largely ignored and its potential untapped. In too many countries, too many legal restrictions conspire against women to be economically active—to work.

What can be done to remove these barriers?  A new study done by IMF economists seeks to answer that question.

The bottom line? It's about a fair, level playing field.

Continue reading “Fair Play—Equal Laws for Equal Working Opportunity for Women” »

By | February 23rd, 2015|Africa, Asia, Economic research, Employment, Global Governance, growth, IMF, Inequality, International Monetary Fund, Latin America, Middle East, Reform, Uncategorized|0 Comments
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The IMF Annual Research Conference: Economics of Crises―Past Experiences and Present Travails

2010 WEO BLANCHARD By Olivier Blanchard

Several years out from the global financial crisis, the world economy is still confronting its painful legacies. Many countries are suffering from lackluster recoveries coupled with high and persistent unemployment. Policymakers are tackling the costs stemming from the crisis, managing the transition from crisis-era policies, and trying to adapt to the associated cross-border spillovers.

Against this background, the IMF’s 14th Jacques Polak Annual Research Conference, entitled  “Crises: Yesterday and Today,”  to take place on November 7-8, will take stock of our understanding of past and present crises.

This year’s conference will be a special one as we shall honor Stanley Fischer’s many contributions to economic research and policy. Stan has extensively studied economic and financial crises, first as a faculty member at the Massachusetts Institute of Technology, and then as a policymaker with many hats over the years―the Chief Economist of the World Bank, the First Deputy Managing Director of the IMF, and the Governor of the Bank of Israel.

Continue reading “The IMF Annual Research Conference: Economics of Crises―Past Experiences and Present Travails” »

By | November 1st, 2013|Asia, Economic Crisis, Economic outlook, Economic research, Europe, Finance, Fiscal policy, Global Governance, IMF, International Monetary Fund, Multilateral Cooperation, Uncategorized|2 Comments
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Closer, Ever Closer

Over the past two decades—in line with the region’s growing role in the global economy—Asia’s equity markets have become increasingly sensitive to global financial developments. More specifically, we have discovered that equity returns in Asia generally now move in tandem with those in systemic economies. (By systemic economies, we are talking here about those countries—such as the United States and the United Kingdom which are home to major, global, financial centers such as Wall Street and the City of London.)

By | May 17th, 2012|Advanced Economies, Asia, Economic research, Europe, Financial Crisis, Globalization, International Monetary Fund, Investment, Politics|2 Comments
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