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emerging and frontier markets:

the unofficial field guide

Site Owner / Publisher:  Sta. Romana, Leonardo L.
 Based in:  Manila, Philippines; and Southeast Asia

Posted on Thu, 31 Oct 2019:

Jeffrey Sachs: Why rich cities rebel, Project Syndicate, 22 Oct 19 [via Author’s website]:
Having lost touch with public sentiment, officials in Paris, Hong Kong, and Santiago failed to anticipate that a seemingly modest policy action (a fuel-tax increase, an extradition bill, and higher metro prices) would trigger a massive social explosion, writes Columbia U Ctr Sustainable Devt dir

Saez and Zucman: How to tax our way back to justice, NYT, 13 Oct 19 [courtesy Boston U]:
America's soaring inequality has a new engine: its regressive tax system. Over the past half century, even as their wealth rose to previously unseen heights, the richest Americans watched their tax rates collapse, write U Calif-Berkeley co-authors of The Triumph of Injustice (released on 15 Oct)

Nook & cranny: Rajan and Banerjee -- Eight things India must do in 2019, Times of India (blog), Jan '19):
Last Oct, thirteen of us got together in the hope that we could start a conversation by identifying a set of econ policy ideas. While our views stretch across the spectrum, we found surprising agreement on the reforms India needs now, write fmr central bank governor; and 2019 Nobel co-Laureate

Posted on Tue, 22 Oct 2019:

Joseph Stiglitz: Wanted -- A global green new deal, Project Syndicate, 10 Oct 19 [via Jordan Times]:
Nearly a quarter-century ago, I was a lead author on "Climate Change 1995--A Report by the IPCC". In that report, we made one big mistake: We should have sounded the alarm louder. But we lacked the overwhelming evidence that we have today, writes 2001 Nobel Laureate

Benjamin Zycher: The trouble with "renewable" energy, National Review, 10 Oct 19 [via Amer Enterp Inst]:
"Renewable" electricity -- predominantly wind and solar power -- is all the rage, described by numerous "experts" as cost-competitive, clean, and a major part of the solution to the "existential crisis" now looming large as an attendant effect of climate change, writes Inst resident scholar

A scientific approach to evaluating global anti-poverty programs, PBS NewsHour, 23 Aug 19:
The foreign aid dispensed every year by the US amounts to about one percent of the total federal budget, but that tiny percentage is often a giant political target. In recent weeks, some in the Trump White House tried again to stop some foreign aid funding. The criticism? It's a waste of money and doesn't work

Posted on Mon, 14 Oct 2019:

2019 Nobel Prize in Economics -- Awarded "for their experimental approach to alleviating global poverty" to A Banerjee, E Duflo, and M Kremer, 14 Oct 19:
Their research has introduced a new approach to obtaining reliable answers about the best ways to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research

Woetzel and Seong: We've entered the Asian Century and there is no turning back, Project Syndicate, 11 Oct 19 [via WEForum blog]:
In the 19th century, the world was Europeanized. In the 20th century, it was Americanized. Now, it is being Asianized – and much faster than you may think, write McKinsey senior partner / McK Global Inst senior fellow

Democracy fosters economic growth -- study, MIT News, Mar '19:
As long as democracy has existed, there have been democracy skeptics -- from Plato warning of mass rule to contemporary critics claiming authoritarian regimes can fast-track economic programs       (Economist awarded MIT's highest honor)

Posted on Mon, 30 Sep 2019:

Suppressing criticism can lead to policy mistakes - India's fmr central bank head Rajan, CNBC/India, 30 Sep 19:
In a new blog post written on the occasion of the 150th birth anniv of Mahatma Gandhi, where he remembers fmr jurist/economist Nani Palkhivala, Rajan writes that people in authority have to tolerate criticism for a failure to do so will lead to policy mistakes          (Rajan on importance of dissent)

Jean Pisani-Ferry: Farewell, flat world, Project Syndicate, July '19 [courtesy European Univ Inst]:
The single most important economic development of the last 50 years has been the catch-up in income of a large cohort of poor countries. But that world is gone, writes holder of the Tommaso Padoa-Schioppa economics chair at EUI (Florence)

Nook & Cranny: Litterman -- How climate risk is like a flaming truck barreling toward us, Ensia/Univ Minnesota, Nov '15:
In Dec '14, Litterman and his wife were nearly killed in a car accident. A flaming fuel tanker was hurtling toward them on a highway. She saw it 1st and shouted. He slammed on the brakes. "This true story illustrates an essential element of managing risk: Time is of the essence"

Posted on Sat, 21 Sep 2019:

Earth League scientists back global climate protests, Potsdam Inst Climate Impact Res/Germany, 18 Sep 19:
Eminent scientists throw their weight into the balance to support global climate action culminating in this week's demonstrations and the UN climate summit next week. The future of life-support systems on Earth is determined by a dual tipping point       (Earth League: Humanity is tipping the scales of the world) [PDF]

Global economists predict the world's lowest growth in a decade, CNN, 19 Sep 19:
The world economy is slowing, and it could be headed toward a recession. The Org Econ Cooperation Devt, an intergovernmental econ group, just slashed its forecast for global growth to a decade low       (OECD [blog]): Growth is taking a dangerous downward turn)

Gregory Mankiw: Yes, there is a trade-off between inflation and unemployment, NYT, 11 Aug 19 [PDF, courtesy Harvard U]:
Did you hear the one about a top Trump admin official praising Rep Alexandria Ocasio-Cortez, the liberal firebrand from the Bronx? You may be waiting for a punch line. But this is not a joke, writes Pres GW Bush's Council Econ Advisers head

Posted on Thu, 05 Sep 2019:

Joseph Stiglitz: Is stakeholder capitalism really back?, Project Syndicate, 03 Sep 19 [courtesy Columbia U]:
The recent statement endorsing stakeholder capitalism by the CEOs of America's most powerful corporations has caused quite a stir. They are telling the world that biz is about more than the bottom line. That is quite an about-face. Or is it?, asks 2001 Nobel Laureate

Brian Pinto: Argentina in 2019 -- The IMF should avoid mistakes repeatedly made in past bailouts, Brookings (blog), 05 Sep 19:
Last 28 Aug, Argentina announced it would seek a "voluntary reprofiling" of its debt. The crises in Russia ('98), Argentina ('01), and Greece ('10-'16) provide at least 5 valuable lessons, with similar mistakes made in IMF-led rescue, writes fmr WB senior advisor

Privacy vs transparency in combatting illicit financial flows, Finance & Development, Sep/Oct '19:
Transparency is a potent weapon in the battle against illicit financial flows, in part because it allows journalists and others to scrutinize large amounts of data and report possible abuses. Yet concerns about privacy should not be ignored, write IMF financial experts

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