News and Analysis: 26 Mar- 4 Apr 12 | EmergingFrontierMarkets.com

Based in: Manila, Philippines

Posted on Wed, 4 Apr 12:

Finalists for Wolfson economics prize on euro-zone break-up announced, Policy Exchange, 3 Apr 12 [PDF]:
The Wolfson economics prize, which challenges the world's brightest economists to prepare a contingency plan for a break-up of the Euro zone, unveiled a shortlist of 5 finalists. The entries, though all very different from each other, provide valuable ideas about how best to manage a member state leaving the euro. The prize winner(s) will be announced on 5 July (11-year-old Dutch school boy commended for his entry | Boy's entry | About)

First 'world happiness report' launched at the UN, Columbia U Earth Inst, 2 Apr 12:
The happiest nations are all in Northern Europe (Denmark, Norway, Finland, Netherlands), while the least happy ones are all poor nations in sub-Saharan Africa (Togo, Benin, Central African Rep., Sierra Leone), acc to a new report commissioned for the Apr 2 conference mandated by the UN Gen Assembly on "Happiness and well-being: Defining a new econ paradigm". It is co-edited by J Sachs (Inst dir), R Layard (Lond Sch Econ), and J Helliwell (U Brit Columbia) (New econ paradigm needed, incl social and environ. progress - UN Sec-Gen)

Is sustainable local development a persuasive alternative to microfinance?, by J Glennie, Weblog at Guardian, 28 Mar 12:
Milford Bateman is perhaps best known for his strident attacks on microfinance as an anti-poverty strategy, incl his sometimes acrimonious debates with David Roodman, another microfinance analyst. If, like me, you have been an instinctive believer in microfinance for the past few years, Bateman's critique is worrying. But even more worrying, perhaps, is the fact that Roodman, his apparent adversary, is also unconvinced about it (The Roodman-Bateman debate, Ctr Financial Inclusion, Feb '12)

Posted on Mon, 2 Apr 12:

Myanmar starts new FX regime at 818 kyat per dollar, Reuters, 2 Apr 12 [courtesy Econ Times/India]:
Myanmar's central bank set a reference exchange rate of 818 kyat per dollar on Mon, the 1st business day under a managed float currency regime that is the most dramatic econ reform yet by a year-old civilian gov't. For 35 years, the kyat was pegged to the IMF's special drawing rights at 6.4 kyat per dollar. But a parallel market has existed, which has been used for most everyday transactions, with a recent rate in a range of 800-820 kyat

Massive infrastructure investment needed to meet future demand, OECD, 5 Mar 12:
Upgrading key infrastructure will drive competitiveness, boost trade and promote econ growth. But new ways of financing are needed as the traditional model of public funding for major projects is likely to dry up. Some have begun linking strategic infrastructure planning to long-term infrastructure funds, as is the case in Canada, Denmark, Switzerland and UK. But others, incl Australia, India and US, should improve financing mechanisms to ensure funding is consistent with strategic infrastructure needs (How to step up financing for African infrastructure, IMF Survey Mag, Feb '12)

Posted on Fri, 30 Mar 12:

Biggest icons to switch off for Earth Hour, World Wildlife Fund, 27 Mar 12:
From the Eiffel Tower in Paris to the Empire State Building in New York City, the world's tallest building the Burj Khalifa in Dubai to the Leaning Tower in Pisa, Italy - at 8:30 PM on 31 Mar, Sat., the most visually captivating icons will go dark for Earth Hour. The Sydney Harbor Bridge and Opera House, the 1st landmarks to go dark for the event, will switch off for the 6th year straight (Measuring a nation's environment, Yale and Columbia Univs, Feb '12 | 2012 Environmental Performance Index)

Joseph Stiglitz: Myanmar's turn, Project Syndicate, 7 Mar 12 [courtesy Straits Times/ S'pore]:
In Feb, I participated in seminars in Yangon (Rangoon) and the recently constructed capital, Naypyidaw, organized by one of the nation's leading economists, U Myint. The events were momentous, owing both to large and actively engaged audiences (more than a thousand in Yangon), and to the thoughtful and moving presentations by 2 world-famous Burmese economists who had left the nation in the '60s and were back for their 1st visit in more than 4 decades, says Nobel Laureate '01/ fmr World Bank chief economist (Stiglitz in Myanmar) [courtesy dvb.no]

The past as a foreign country - Taking history and historians seriously in dev't, Weblog at World Bank, 5 Mar 12:
While there is now a consensus that institutions and history matter for understanding dev't outcomes, the dev't policy community has largely failed to take the 3rd (seemingly logical) step, which is to recognize that historians - and the discipline they represent - might matter. A new book we have co-edited - History, Historians and Development Policy: A necessary dialogue - seeks to facilitate a more constructive exchange between historians, social scientists (esp. economists) and policy makers (Book's overview)

Posted on Wed, 28 Mar 12:

Emerging markets flex muscles at 4th BRICS summit, IBTimes/ UK, 28 Mar 12:
The summit, which kicks off Thu in New Delhi, will see India's pres welcome leaders from Brazil, Russia, SAfrica and China for a 2-day series of meetings that will focus on a range of issues, incl trade, investment, food security, tech innovation and renewable energy cooperation. The event, which offers a parallel form of diplomacy to that of G8 and G20 gatherings, is yet another example of the growing econ and political confidence of the emerging markets (Summit - Facts at a glance, Indo Asian News Svce) [courtesy NDTV]

Hale/ Kennedy: Emerging Asia - Two paths through the storm, San Francisco Fed Econ Letter, 26 Mar 12:
The overall effect of the global financial crisis on emerging Asia was limited and short-lived. However, the crisis affected some nations in the region more than others. We look at how well 10 nations weathered the crisis. One group of 'smooth-sailing' nations, incl China, India, Indonesia, Philippines, and Vietnam, was affected relatively less by the crisis. Another group of 'storm-tossed' nations, incl Hong Kong, Malaysia, Singapore, SKorea, and Thailand, suffered more

Ted Piccone: Cuba is changing, slowly but surely, Brookings Inst, 19 Jan 12:
As I sat on the curb in front of central Havana's Capitolio, the impressive domed hall that resembles the US Capitol bldg, and watched the '50s-era Plymouths and Soviet-made Ladas go belching by, I was sure I had entered a surreal time warp a mere hour flight from Miami. And yet, after a week of meetings with Cuban and foreign diplomats, journalists, academics and artists, I became convinced that Cuba, indeed, is changing in many ways, says Inst senior fellow / prog deputy dir (Can Raul Castro's reforms create a new Cuba?, Knowledge@Wharton, Nov '11)

Posted on Mon, 26 Mar 12:

A physician to lead the World Bank?, Bloomberg News, 25 Mar 12 [courtesy Jakarta Globe/ Indon.]:
Jim Yong Kim, the physician and Dartmouth College pres tapped by the US as its candidate for the bank's top job, would mark a change from the financiers and bureaucrats who have previously run the lender. He faces rival candidacies from Nigerian Finance Minister and fmr WB official Ngozi Okonjo-Iweala as well as from Jose Antonio Ocampo, Colombia's fmr finance minister (Dadush/ Naím: The World Bank's quota system for leaders, Wash. Post | The pros and cons of having a physician run the World Bank) [courtesy Carnegie Endow.]

Michael Spence: The energy deficit, Project Syndicate, 21 Mar 12 [courtesy China Daily]:
I have been surprised by the recent coverage in the American press of gasoline prices and politics. Political pundits agree that presidential approval ratings are highly correlated with gas prices: when prices go up, a president's poll ratings go down. A substantial failure of education about non-renewable natural resources lies in the background of current public sentiment, says Nobel Laureate '01/ NYU prof

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