Asia Needs More Access to Financial Services to Grow

2019-03-13T14:26:34-04:00September 18, 2018|

By  Sarwat Jahan, Elena LoukoianovaCormac Sullivan and Yongzheng Yang

September 18, 2018

中文, 日本語

A customer pays at a supermarket using her smartphone in Bangkok, Thailand: urban and rural areas in the region widely use mobile payment platforms to access financial services (photo: Li Mangmang Xinhua News Agency/Newscom)

In Asia, the world’s fastest-growing region, expanding access to financial services for more people will mean higher growth, […]

Steering the World Toward More Cooperation, Not Less

2019-03-13T14:49:12-04:00September 6, 2018|

By Vitor Gaspar, Sean Hagan, and Maurice Obstfeld

September 6, 2018

عربيBaˈhasa indoneˈsia中文,Español, Français日本語,Português,Русский

With the world becoming more interdependent than ever before, countries can achieve a lot when they pull together (photo: Anton Sokolov/iStock by Getty Images)

Countries cooperate if they perceive it to be in their best interests, both economically and politically.  […]

All Hands on Deck: Confronting the Challenges of Capital Flows

2019-03-25T10:54:38-04:00August 2, 2017|

By Atish R. Ghosh, Jonathan D. Ostry, and Mahvash S. Qureshi

August 2, 2017

Versions in  Español (Spanish)

Exchange rates board, Australian Securities Exchange: Emerging economies have several tools to manage capital flows. The most common are foreign exchange intervention and monetary policy (photo: wx-bradwang/iStock by Getty Images)

The global financial crisis and its aftermath saw boom-bust cycles in capital flows of unprecedented magnitude. Traditionally, emerging market economies were […]

Ten Take Aways from the "Rethinking Macro Policy: Progress or Confusion?"

2019-03-27T17:34:46-04:00May 1, 2015|

blanchBy Olivier Blanchard

On April 15-16, the IMF organized the third conference on “Rethinking Macro Policy.

Here are my personal take aways.

1. What will be the “new normal”?  

I had asked the panelists to concentrate not on current policy challenges, but on challenges in the “new normal.” I had implicitly assumed that this new normal would be very much like the old normal, one of decent growth and positive equilibrium interest rates. The assumption was challenged at the conference.

On the one hand, Ken […]

Close But Not There Yet: Getting to Full Employment in the United States

2019-03-27T17:41:09-04:00April 28, 2015|

By Ravi Balakrishnan and Juan Solé

(Version in Español)

Last month’s report on U.S. jobs was disappointing, with far fewer jobs than expected added in March. A longer-term look at trends yields a different picture, however. Over the past year, U.S. job creation has been impressive. Payroll gains have averaged 260,000 per month—well above the 160,000 monthly average seen throughout the 2010–13 recovery.

[…]

Turkey’s Recipe to Escape the Middle-Income Trap

2017-04-14T01:49:16-04:00December 15, 2014|

By Gregorio Impavido and Uffe Mikkelsen

(Version in Türk)

Turkey is going through a time of economic transition, with slowing growth that risks the country being caught in a “middle-income trap,” unable to join the ranks of high income economies. 

The country grew at 6 percent per year on average in the period 2010-13, with policies supportive of domestic consumption. This has generated a large current account deficit, mostly financed by short-term capital flows. The reliance on consumption at the expense of investment, slow export growth, and sizable investment needs have […]

Now Is a Good Time to Invest in Infrastructure

2017-04-14T01:54:28-04:00September 30, 2014|

By Abdul Abiad, Davide Furceri, and Petia Topalova

Infrastructure is the backbone of well-functioning economies. Unfortunately, that backbone is becoming increasingly brittle in a number of advanced economies. For example, there has been a decline in the overall quality of infrastructure in the United States and Germany (Figure 1; see the FT 2014 and ASCE 2013 for more in infrastructure in the U.S., and Der Speigel 2014 and Kunert and Link 2013 for Germany). In many emerging market and developing economies, […]

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