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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 Sat, 30 Sep 2017:

Trump's tax reform plan would dramatically lower rates for businesses, some individuals, CNBC, 27 Sep 17:
Republicans unveiled sweeping changes to America's tax code Wed in a proposal that dramatically lowers taxes on businesses and many households but remains silent on thorny issues such as how to pay for it all

William Gale: Can Republicans thread the needle on tax policy?, Real Clear Markets, 28 July 17:
The so-called "Big Six" of Republican policy makers has now laid out general guidelines for tax legislation. This agreement might seem to make tax changes inevitable. But high hurdles stand in the way, writes Urban Inst-Brookings Tax Policy Ctr co-dir

Harold James: Global cooperation - an uphill battle: Bretton Woods to Brexit, Finance & Development, Sep-Nov ‘17:
The US and the UK were the main architects of the post-1945 order, with the creation of the UN systems, but they now appear to be pioneers in the reverse direction - away from multilateralism. writes IMF historian / Princeton U prof

Posted on Sun, 24 Sep 2017:

Robert Shiller: The coming bear market?, Project Syndicate, 21 Sep 17 [courtesy Financial Advisor Mag]:
The US stock market today is characterized by a seemingly unusual combination of very high valuations, following a period of strong earnings growth, and very low volatility. What do these ostensibly conflicting messages imply?, asks 2013 Nobel Laureate

Marcus Noland: S.Korean central bank's estimates of N.Korean economic growth, Peterson Inst (blog), 20 Sep 17:
Estimating macroeconomic changes in N.Korea is a dirty job, but someone has to do it, and the analysts deserve our thanks, writes co-author (with S Haggard) of Hard Target: Sanctions, inducements, and the case of North Korea (2017)

With Piketty and paper planes, Wirtschafts Woche, 05 May 17 [PDF, courtesy CORE, transl. fr. German]:
For the roughly 400 econ students at Humboldt University, their introduction to economics in the past semester was quite unusual. Their prof asked them in the main auditorium of the university to build paper planes

Posted on Sat, 16 Sep 2017:

Bill & Melinda Gates: We need strong leadership to address "solvable human misery", Gates Foundation, 13 Sep 17:
It is a fact that disease and poverty are solvable. We invite everyone to focus on the solvable part of the equation. We are launching this report and will publish it every year until 2030. Let's be ambitious. Let's lead, write Foundation co-chairs        (Media release)

Michael Spence: The global economy's new rule-maker, Project Syndicate, 29 Aug 17 [via Council on Foreign Relations (blog)]:
China has a very large domestic market – to which it can control access – and its growth model is increasingly based on domestic consumption and investment, and less on exports. But how will China wield its increasing econ power?, asks 2001 Nobel Laureate

China banks fear US North Korea sanctions, BBC News, 12 Sep 17:
China's big banks have been quietly but surely weaning themselves off N.Korean money because of a fear of US repercussions. Bank branches near the N.Korean border said they've been instructed not to open any new accounts for that country's citizens and businesses

Posted on Sun, 10 Sep 2017:

Disasters, funds, and policy - Creatively meeting urgent needs and long-term policy goals, World Bank (blog), 29 June 17:
When it comes to responding to disasters, time is of the essence. Help needs to come immediately to save lives; recovery and reconstruction have to start swiftly to lessen the impact, writes WB disaster risk mgmt specialist

Kenneth Rogoff: What on earth was India thinking when it banned the 500-rupee ($7.50) note?, PBS NewsHour (blog), 04 Sep 17:
Hate it or love it, almost everyone agreed that Modi's demonetization was something utterly remarkable, writes author of The Curse of Cash: How large-denomination bills aid crime and tax evasion and constrain monetary policy (2016)

America’s got talent, but not nearly enough, WSJ, by E Conard, 16 Aug 17 [courtesy Amer Enterp Inst]:
Pres Trump has proposed cutting the number of green cards issued each year and issuing them based on skill levels. Increasing skills-based immigration would be good for the economy. But this approach just gets it half right, writes Inst visiting scholar

Posted on Mon, 04 Sep 2017:

Haggard: What is N.Korea's goal with missile tests? Perhaps not what you think, San Diego Union-Tribune, 29 Aug 17:
The N.Korean missile tests all signal a dangerous development of capabilities. But what is our theory of the case? What is N.Korean leader Kim Jong Un doing?, asks co-author (with M Noland) of Hard Target: Sanctions, inducements, and the case of North Korea (2017)

Never in favor of demonetization – India's fmr cenbank gov Rajan in book, Press Trust of India, 04 Sep 17 [via NDTV]:
Fmr Reserve Bank of India gov Raghuram Rajan has stated that he had warned the govt of the damage of demonetization to the economy in Feb 2016, when he was asked for his views, he reveals in his new book I Do What I Do: On reform, rhetoric and resolve       (Q&A with Rajan, Times of India)

Iconoclast with a mission – a profile of Harvard's Ricardo Hausmann, Finance & Devt, by C Andersen, Sep-Nov ’17:
Hausmann has been director of Harvard’s Center for International Development since 2005. He has used his time there to refine his thinking on econ growth and binding constraints - the one or two biggest hurdles to growth a country faces

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