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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 Thu, 21 Feb 2019:

Dani Rodrik: The good jobs challenge, Project Syndicate, 14 Feb 19 [via Jordan Times]:
Every economy in the world today is divided between an advanced segment, typically globally integrated, employing a minority of the labor force, and a low-productivity segment that absorbs the bulk of the workforce, often at low wages and under poor conditions, writes Harvard economist

Sachs: How can we achieve the Sustainable Development Goals? Strategic policy directions, Dubai Policy Rev/UAEmir, 28 Jan 19:
The world is very rich, and if we choose, we can end poverty, protect the environment, and assure every child access to quality education and health care. These paradoxical facts are the main motivation for the SDGs, writes Columbia U Ctr Sustainable Devt dir

Chinese investment in infrastructure is often a diplomatic trap, Economist, 04 Feb 19 [courtesy author’s site]:
At a projected cost of $20bn, the East Coast Rail Link, planned to run down peninsular Malaysia's eastern seaboard, is the 2nd-biggest of all the projects of China's Belt and Road Initiative (BRI)          (China's BRI
may bankrupt 8 nations while financing infra)

Posted on Mon, 11 Feb 2019:

Eswar Prasad: Why Trump's pick for World Bank president is a threat to the institution itself, WashPost, 07 Feb 19:
As with a number of other Trump admin nominees in various agencies, Malpass is known for his antagonism toward the institution and its core objectives, not to mention his open hostility to multilateralism, writes Cornell U economist / Brookings senior fellow

Daniel Runde: Time for the world to get behind David Malpass for World Bank president, The Hill, 05 Feb 19:
He has a strong understanding of what the WB can do and believes in its mission. He was originally a skeptic of the recent WB capital increase, but ultimately his leadership was critical in getting the Trump admin to support it, writes Ctr Strategic & Intl Studies senior vice-pres

The tax that could save the world, Univ Chicago, 04 Feb 19:
It was, perhaps, the closest that the econ profession has ever come to a consensus. 43 of the world's most eminent economists, incl 
27 Nobel laureates, signed a statement calling for a US carbon tax        (Economists' statement on carbon dividends, WSJ) [courtesy Climate Leadership Council]

Posted on Tue, 29 Jan 2019:

Saez and Zucman: Rep. Ocasio-Cortez's tax hike idea is not about soaking the rich, NYT, 22 Jan 19 [courtesy Zucman's site]:
Progressive income taxation is the fairest and most potent policy, because it restrains all exorbitant incomes equally, whether from exploiting monopoly power, new fin. products, sheer luck or anything else, write fmr MacArthur Found. "genius" fellow; and author of The Hidden Wealth of Nations

Nicholas Lardy: Xi Jinping's turn away from the market puts China's growth at risk, FT, 15 Jan 19 [courtesy Peterson Inst]:   
It used to be said that when the US sneezes, Canada catches a cold. Now China is sneezing and many economists fear that its weaknesses are contagious for the rest of the world, writes author of The State Strikes Back (2019)

Coffers: Shiller -- Morality, money management and Jack Bogle, Project Syndicate, 28 Jan 19 [via Times of Oman]:
It is a little odd for Bogle to quote Warren Buffett in support of a strategy of investing in an index fund that represents the whole market, given that the Oracle of Omaha owes his fame (and his moniker) entirely to his ability to outperform the market, writes 2013 Nobel Laureate

Posted on Tue, 08 Jan 2019:

World Bank chief 's exit could give Trump lever over development lending, AFP, 08 Jan 19 [via Yahoo News]:
The surprise early departure of WB Pres Kim potentially hands Trump a key lever over devt lenders with whom his admin has been at odds. But if he wants an American in the post, he will need to pick one who can win the support of most shareholders

Editorial: The global carbon tax revolt, WSJ, 03 Dec 18 [courtesy outline.com]:
France's violent Yellow Vest protests are now about many domestic concerns, but it's no accident that the trigger was a fuel-tax hike. A carbon tax is in theory a more efficient way than regulation to reduce carbon emissions

Krugman: Hope for a green new year, NYT, 31 Dec 18 [via Seattle Times]:
There are big advantages to discouraging pollution by putting a price on emissions, which you can do either by imposing a tax or by creating a cap-and-trade system in which people buy and sell emission permits. A carbon tax is, however, a tax -- which will upset the people who have to pay it, writes 2008 Nobel Laureate

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