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Why Nations Fail, America Edition
As we approach inauguration day, exactly two weeks after the Capitol insurrection, Americans are on edge. About twenty thousand National Guard soldiers will provide security tomorrow; more troops than in Iraq and Afghanistan.…
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Legally Speaking, is Digital Money Really Money?
Countries are moving fast toward creating digital currencies. Or, so we hear from various surveys showing an increasing number of central banks making substantial progress towards having an official digital currency. But, in…
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When Inequality is High, Pandemics Can Fuel Social Unrest
In the months and years following previous pandemics, the countries most affected saw a rise in social unrest. Based on this historical trend, the COVID-19 pandemic could pose a threat to the social…
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Navigating Capital Flows – An Integrated Approach
International capital flows provide significant benefits for economic development but can also generate or amplify shocks. This dilemma has long posed challenges for policymakers in many open economies. While flexible exchange rates can…
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Bank lending rates and spreads in EMDEs: Evolution, drivers, and policies
Banks dominate credit intermediation and savings mobilization in most emerging markets and developing economies (EMDEs). As bank lending interest rates and the lending-deposit interest spreads capture the efficiency with which banks allocate society’s…
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Biden vs. Biden on China
If Biden talked about China in 2020 like he did back in 2000, he might have lost the election. Three-quarters of Americans now have an unfavorable view of the country — up from…
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A Long, Uneven and Uncertain Ascent
This crisis is far from over. Employment remains well below pre-pandemic levels and the labor market has become more polarized with low-income workers, youth, and women being harder hit. The poor are getting…
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China and the Burgeoning African Debt Crisis
Contrary to the swirling rumors on African social media and in the local press about the supposed imminent danger of Chinese asset seizures in Zambia, it’s not the Chinese that are the problem…
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Emerging Stronger From the Great Lockdown
The managing director and the chief economist of the International Monetary Fund lay out a strategy for sustained recovery.
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COVID-19 Response in Emerging Market Economies: Conventional Policies and Beyond
The economic impact of the COVID-19 pandemic on emerging market economies far exceeded that of the global financial crisis. Unlike previous crises, the response has been decisive just like in advanced economies. Yet,…
