CHART OF THE WEEKPutting Public Investment to Work
For countries on the path to recovery, reviving economic activity is a major priority. And what better way to support a come-back than by creating jobs. […]
Chart of the WeekHow a Collective Infrastructure Push Will Boost Global Growth
By IMFBlog
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With vaccines around the corner, there is increased hope that the pandemic could soon be under better control. That said, the need for cooperative efforts to work toward a better future has never been greater. Priority areas relate to the need to produce and distribute vaccines globally, tackle climate change, and bolster the economic recovery from the crisis.
An IMF report published ahead of the G20 leaders meeting argues that a synchronized infrastructure investment push could invigorate growth, limit scarring, and address climate goals. In fact, when many countries act at the same time, public infrastructure investment could help lift growth domestically and abroad through trade linkages. This positive “spillover” effect could provide an additional boost to global output.
The spillovers created by higher demand are particularly impactful when economic conditions are weak and interest rates low. When economic conditions are strong, higher government spending may push inflation above the central bank’s target and trigger a monetary policy tightening, offsetting some of the initial boost to demand. But when conditions are weak and inflation is well below target, monetary policy is less likely to tighten in response to higher government […]
Finding the Right Policy Mix to Safeguard our Climate
By IMF Staff
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Unaddressed, climate change will entail a potentially catastrophic human and economic toll, but it’s not too late to change course.
Global temperatures have increased by about 1°C since the pre-industrial era because of heat-trapping green-house gases accumulating in the atmosphere. Unless strong action is taken to curb emissions of these gases, global temperatures could increase by an additional 2–5°C by the end of this century. Keeping temperatures to levels deemed safe by scientists requires bringing net carbon emissions to zero on net globally by mid-century.
…economic policy tools can pave a road toward net zero emissions by 2050 even as the world seeks to recover from the COVID-19 crisis.
In the latest World Economic Outlook we make the case that economic policy tools can pave a road toward net zero emissions by 2050 even as the world seeks to recover from the COVID-19 crisis. We show that these policies can be pursued in a manner that supports economic growth, employment and income equality.
The manageable costs of mitigation
Economic policies can help address climate change through two main channels: by affecting the composition […]
Charting a Path for a Resilient Recovery in Sub Saharan Africa
By Kristalina Georgieva and Abebe Aemro Selassie
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Perhaps first among the many lessons of 2020 is that the notion of so‑called black swan events is not some remote worry. These purportedly once‑in‑a‑generation events are occurring with increasing frequency.
Fiscal Policies For Women’s Economic Empowerment
By Stefania Fabrizio, Daniel Gurara and Lisa Kolovich
Making sure that opportunities to enter the workforce are fair and rewarding for women benefits everyone. Yet, the average female workforce participation rate across countries is still 20 percentage points lower than the male rate, largely because gender gaps in wages and access to opportunities, such as education, stubbornly persist. […]
A Role for Financial and Monetary Policies in Climate Change Mitigation
By William Oman
July 2019 was the hottest month ever recorded on earth, with countries across the world experiencing record-breaking temperatures. […]
Illuminating Dark Corners of the Global Economy
This issue of Finance & Development reminds me of a Sufi parable. A woman sees a mystic searching for something outside his door. […]
When Disaster Strikes: Preparing for Climate Change
By Seán Nolan and Krishna Srinivasan
Earlier this year, Cyclone Idai devastated Mozambique, Malawi, and Zimbabwe by leaving more than 1,000 people dead, thousands more missing, and damages in the billions. […]
A Global Picture of Public Wealth
By Jason Harris, Abdelhak Senhadji, and Alexander F. Tieman
Our new data on government assets shows that when governments know what they own, they can make better use of the assets for the well-being of all their citizens. […]
