Creating a Better Global Trade System

2019-03-14T11:44:23-04:00May 29, 2018|

By Christine Lagarde

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. […]

Trust and the Future of Multilateralism

2019-03-14T11:54:36-04:00May 10, 2018|

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 […]

Policy Actions to Sustain Growth and Guard Against Risks

2019-03-14T14:29:58-04:00March 15, 2018|

By Christine Lagarde

March 15, 2018

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

Even though the sun still shines on the global economy, there are more clouds on the horizon (iStock by GettyImages).

When the Group of Twenty finance ministers and central bank governors met last October, there was a sense of optimism about the global economic upswing and the opportunities for […]

Revisiting the Paradox of Capital: The Reversal of Uphill Flows

2019-03-26T11:33:24-04:00March 7, 2017|

By Emine Boz, Luis Cubeddu, and Maurice Obstfeld

Versions in عربي (Arabic),  中文 (Chinese), Français (French),  Русский (Russian), and Español (Spanish)

Basic economic theory tells us that capital should flow from slow-growing rich countries to faster-growing poor ones in search of higher returns. A decade ago, our former Research Department colleagues Eswar Prasad, Raghuram Rajan, and Arvind Subramanian examined why the reverse had been true—capital generally flowed “uphill” from poorer to richer countries. Building on the seminal work of Robert Lucas, they argued that certain characteristics of poorer countries, such as weaker institutions and lower levels […]

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