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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 Fri, 27 Dec 2019:

Jean Pisani-Ferry: The great wealth tax debate, Project Syndicate, 31 Oct 19 [via Peterson Inst]:
Inequality is back at the forefront of econ policy debates, for good reason. While a wealth tax is no panacea, at the very least the idea does not deserve to be banished as a heresy, writes European University Inst econ chair holder / Inst visiting fellow

Pinner and Woetzel: The climate risk you may not be thinking about, GreenBiz, 08 Oct 19 [via Mckinsey]:
The most significant risk from climate change in the near term is not from a future of extreme weather - we know it is coming - but whether we have adapted to an increasingly volatile present, write McK senior partner; and Global Inst dir

The 2019 Business Book of the Year shortlist, McKinsey (blog), 25 Sep 19:
The shortlist is long on ambition and quality and far-ranging in subject matter. Among the 5 titles is Raghuram Rajan's The Third Pillar: How markets and the state leave the community behind       (U Chicago News: Q&A with author | Book excerpt: Route to reform)

Posted on Mon, 09 Dec 2019:

Mark Carney: Fifty shades of green, Finance and Development, Dec-Feb '20:
We are faced with the Tragedy of the Horizon. The catastrophic effects of climate change will be felt well beyond the traditional horizons of most actors, writes Bank of England outgoing governor and incoming UN special envoy on climate finance

Young people struggling in digital world, finds latest international student assessment survey, OECD, 03 Dec 19:
The 2018 survey tested around 600,000 15-year-old students in 79 countries on reading, science and mathematics. In reading, Beijing, Shanghai, Jiangsu and Zhejiang (China), together with Singapore, scored significantly higher than other countries

5 questions with economist Bryan Caplan, author of "Open Borders", Amer Enterp Inst (blog), 03 Dec 19:
The George Mason U prof 's new book is entitled Open Borders: The science and ethics of immigration: Q--"Open borders" sounds like a pretty drastic policy to most people. People imagine that we'll just have a turnstile at the border, counting people as they come in

Posted on Sat, 30 Nov 2019:

Climate change "tipping points" too close for comfort, AFP, 29 Nov 19 [via New Delhi TV]:
There are 15 known tipping points in the planet's complex climate system, and 9 of them -- incl permafrost, the Amazon rainforest, the Greenland ice sheet, and the Arctic sea ice -- are alarmingly "on the move", top climate scientists warn       (Media releases: Potsdam Inst | Univ Exeter)  (AFP: The climate crisis is here. . .)

Pisani-Ferry and Mazza: Global collective action -- How long is the head table?, European Univ Inst, July '19:
One of the main reasons behind the success of the 1987 Montreal protocol on eliminating ozone-depleting gases was that only a few countries were significant producers: the US, EU and Japan accounted for 80% of the total, write EUI econ chair; and Bruegel researcher         (Collective action in a fragmented world)

Nook & cranny: Mazzucato -- It's a magic number: Value creation vs value extraction, Times Literary Supplement, May '18 [PDF, via Author’s site]:
By losing our ability to recognize the difference between value creation and value extraction, we have made it easier for some to call themselves value creators and in the process extract value. . . Book excerpt from The Value of Everything: Making and taking in the global economy (2018)

Posted on Wed, 20 Nov 2019:

The five best policies to promote innovation -- and one policy to avoid, Stanford Univ, Oct '19:
Elected leaders around the globe often take office with promises of driving econ growth through innovation. But what are the best ways to encourage it? Economist Nicholas Bloom, with associates from Stanford and MIT, came up with an evidence-based toolkit for governments looking to spark innovation

All the way to the top (or, the return of the policy that shall not be named), IMF (blog), by Cherif and Hasanov, 13 Nov 19:
The odds of poor or middle-income countries achieving the stardom of the "Asian Miracles" within a generation or two, or even three, are small. Between 1960 and 2014, only 16 developing economies worldwide were able to vault into high-income status, write IMF senior economists

Coffers: Laurence Kotlikoff -- At last! Portfolio guidance based on economics' investment mantra, Forbes, May '19:
Every week, it seems, there's a new financial website with just the right solution for managing your money.
"We'll advise you." "We'll balance you." "We'll life-cycle you." "We'll de-tax you." "We'll robo you."  These sites have one thing in common -- a complete disconnect with econ theory, writes Boston U economist

Posted on Sat, 09 Nov 2019:

Joseph Stiglitz: The end of Neoliberalism and the rebirth of History, Project Syndicate, 06 Nov 19 [courtesy Columbia Univ]:
The credibility of neoliberalism's faith in unfettered markets as the surest road to shared prosperity is on life-support these days. And well it should be. The simultaneous waning of confidence in neoliberalism and in democracy is no coincidence, writes 2001 Nobel Laureate

William Easterly: In defense of Neoliberalism, Boston Review, Mar '19:
Since complaints about the domination of market fundamentalism seem to greatly outnumber pro-fundamentalist manifestos, critics may have trouble finding debate partners who will defend ideological, fundamentalist, fetishist neoliberalism. As a favor to them, I will volunteer to be at least a neoliberal, writes NYU economist

Gregory Mankiw: Democrats Warren vs Yang -- Who has the better tax plan?, NYT, 29 Sep 19 [courtesy Harvard]:   
In the race for the Democratic presidential nomination, Mass. Sen. Warren and Andrew Yang, a fmr tech exec and entrepreneur, have both proposed bold plans for redistributing econ resources. Their plans are as different as can be, writes Pres G W Bush's Council Econ Advisers chair

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