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emerging and frontier markets:

the unofficial field guide

Site Owner / Publisher:  Sta. Romana, Leonardo L.
        Based in:  Manila, Philippines

Posted on Mon, 15 May  2017:

Shultz / Feldstein: Everything you need to know about trade econ, in 70 words, Wash Post, 05 May 17 [courtesy Harvard]:
If a country consumes more than it produces, it must import more than it exports. That's not a rip-off; that's arithmetic, write fmr secretary of labor, treasury and state; and fmr Council Econ Advisers chair

Danny Quah: Can Asia lead the world? Only when it has a winning story to tell, South China Morning Post, 07 Apr 17:
Some Asian thinkers have begun to argue that the time has come for Asia to champion the liberal world order that allowed it to develop and prosper. But how? For Asia to lead, it must do two things, writes Natl Univ Singapore economist

Coffers: Should college students be required to take a course in personal finance?, WSJ, 22 Mar 17 [courtesy George Wash U]:
Think about driving. Before we allow someone behind the wheel, we make sure they understand the basics. That's where a driver's license comes in. It is time to extend that type of thinking to financial knowledge, writes GWU economist

Posted on Fri, 12 May  2017:

David Dollar: An assessment of Trump's first 100 days - on trade and China, Brookings (blog), 28 Apr 17:
Trump has not followed through on his harsh rhetoric about trade in general and trade with China in particular, much to the relief of the biz community and America's partners, writes fmr US Treas econ/fin emissary to China

Where will China's 'One Belt, One Road' initiative lead?, Univ Pennsylvania, 22 Mar 17:
The "One Belt" refers to a "Silk Road Economic Belt" from China through Central Asia to Europe. The "One Road" refers to Beijing's concept of a "21st century Maritime Silk Road" to connect China to Europe via the South China Sea and Indian Ocean

25% of CEOs' time is spent on tasks machines could do, Harvard Biz Rev, by Manyika & assoc, 05 Feb 17 [courtesy McKinsey]:
Half of the activities people are paid to do in the global economy have the potential to be automated by adapting current tech. But more occupations will change than will be automated in the short to medium term, write McK Glob Inst dir; and partners

Posted on Wed, 10 May  2017:

It's power asymmetry, stupid - Lessons from the 2017 World Development Report (WDR), Brookings (blog), 24 Apr 17:
Why does sound technical advice - based on better data, more info about practices elsewhere, and more robust evaluation techniques - so infrequently translate into more effective devt policies?, ask WDR team co-dir: and WB economist

The informal sector - what do we know so far?, Ctr Global Devt (blog), by Diofasi, Ramachandran and Gelb, 25 Apr 17:
The informal sector is a major source of econ activity and job opportunities in poor countries as well as emerging markets. Why do businesses remain informal?, ask Ctr senior fellows; and policy analyst

Paul Milgrom: How obscure science led to spectrum auctions that connected the world, The Hill (blog), 30 Apr 17:
When we drive to work, we often see the effects of congested roads. But when we use our mobile phones, we don't think much about congestion on the highways that carry our voices and data, writes Stanford economist

Posted on Mon, 08 May  2017:

US foreign aid cuts - what could impact be?, CS Monitor, 28 Apr 17:
Development aid has traditionally been seen as one of the three pillars of Washington's international presence, along with defense and diplomacy. A leaked State Dept budget document lays out proposals for a 31 pct cut in devt aid and plans to sharply cut back USAID

William Easterly: This common argument for US foreign aid is actually quite xenophobic. Wash Post, 31 Mar 17:
The false statement that portrayed huge classes of people as prone to terrorism scared Americans into increasing aid. Now it scares Americans into increasing xenophobic travel bans, writes NYU Devt Res Inst co-dir

What are the GDP data hiding? Moving toward a more nuanced accounting of econ well-being, Amer Econ Assn News, 26 Sep 16:
Two economists imagine a hypothetical baby about to be born somewhere on earth, to an unknown family of unknown means. If this baby wants to get the most out of life, which country does she hope to be born into?

Posted on Fri, 05 May  2017:

Solon and Gramm: Do you want Reagan's economy or Obama's?, WSJ, 20 Apr 17 [courtesy Amer Enterp Inst]:
The econ policies implemented by Reagan and Obama were the polar extremes of postwar policies, whose consequences defined the highs and lows of America's postwar experience, write US Policy Metrics partner; and fmr Senate banking cmte chair

"Western political elites have forgotten the average people," ESB/ Netherlands, 21 Apr 17:
What these populists have in common is that, with a marked ­distrust of expert judgement, they are pleading against free trade and in ­favor of a strong nation state. How has it come to this? Q&A with Dani Rodrik

China faces several obstacles to building successful domestic commercial aircraft industry, Rand, 04 Apr 14:
The Chinese govt sees designing and manufacturing passenger jets as an important indicator of the nation's advanced technological capabilities. Almost all of its commercial aircraft have been imported from foreign manufacturers

Posted on Wed, 03 May  2017:

Joseph Stiglitz: Lessons from the anti-globalists, Project Syndicate,
02 May 17 [courtesy Columbia U]:
With the likely victory of Macron in the French pres’l election. it would be a mistake to conclude that discontent with the global economy - at least how it treats large numbers of those in (or formerly in) the middle class  -  has crested, writes 2001 Nobel Laureate

Steve Hanke: How to stop Venezuela's fatal inflation, Forbes, 03 Apr 17 [courtesy Cato Inst]:
During my recent testimony before a US House of Representatives committee, I stressed that, to establish stability and turn Venezuela's economy around, runaway inflation must be stopped in its tracks, writes Inst's Troubled Currencies proj dir /  Johns Hopkins U prof

Coffers: Adaptive markets - Financial evolution at the speed of thought, Princeton Univ Press (blog), 25 Apr 17:
Q&A with MIT’s Andrew Lo: What’s the "adaptive markets" hypothesis?; Are you suggesting that the "efficient markets" hypothesis, which dominates financial thinking today, is wrong?       (Volatility, trend following, and why traditional financial advice is incomplete)

Posted on Mon, 01 May  2017:

Finally, a breakthrough alternative to growth economics – the doughnut, Guardian, by G Monbiot, 12 Apr 17:
We cannot hope to address our predicament without a new worldview. We need to reframe the problem. This is what the most inspiring book published so far this year has done, Doughnut Economics: Seven ways to think like a 21st-century economist
      (Raworth: Doughnut economics)

Amartya Sen keeps his cool, Prospect, by S Rahim, Mar '17:
His 1970 book Collective Choice and Social Welfare, which he has just updated and expanded, touches on deep problems in the theory of democracy. Having teased out democracy's paradoxes, he is keeping his calm as politics runs wild

'Thought leaders' and the plutocrats who love them, Nation, by  E Alterman, 12 Apr 17: 
I haven’t seen much discussion of the new book, The Ideas Industry: How pessimists, partisans, and plutocrats are transforming the marketplace of ideas. The book is the latest investigation into the state of public intellectuals and the "debate" they conduct with their public and, esp., among themselves

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