News and Analysis: 18-30 May 2016 | EmergingFrontierMarkets.com

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Posted on Mon, 30 May 2016:

A different kind of refugee crisis, US News & World Report, by S Culbertson, 16 May 16 [courtesy Rand Corp.]:
Many people have the impression that refugee crises are managed in refugee camps. But most of the 5 million Syrian refugees in the Mideast do not live in camps. This refugee crisis is unique. The way it's managed should be, too, writes Corp.'s policy analyst

Glenn Hubbard: Don't blame the Fed for America's economic problems, Fortune, 10 May 16 [courtesy Columbia U]:
The present situation raises two fundamental questions: 1st, whether the Fed's policy approach is the right prescription for the economy, and 2nd, whether the Fed has the best tools to steer the economy down the right path if the outlook darkens, writes Pres GW Bush's Council Econ Advisers chair

To have and have more - Wealth management and the growth of global inequality, OECD Observer, by B Harrington, May '16:
The vast majority of political and institutional efforts to combat the problem of inequality have been directed at states (esp, offshore) and the wealthy themselves. But it seems that every time a loophole is closed or a sanction imposed, someone is there to get around it, writes Copenhagen Biz Sch prof

Posted on Fri, 27 May 2016:

Barry Bosworth: Not-so-great expectations -- The G7's waning role in global economic governance, Brookings Inst (blog), 24 May 16:
The G7 continues to meet as a close-knit club of wealthy countries (Canada, France, Germany, UK, Italy, Japan, and US) with similar interests, but its governance role has been largely supplanted by gatherings of more diversified groups, writes Inst's Robert Roosa chair in econ studies

The challenger - Rebel with a cause, Finance and Development, by P Loungani, June '16:
The triumph of markets over the state appeared almost complete in the early '90s with the collapse of the Soviet Union and the fall of the Berlin Wall. But Harvard economist Dani Rodrik refused to join the party. Instead, he warned that globalization may have gone too far

Seven essential lessons from the Harvard Innovation Lab, Fast Company, 14 Apr 16:
The Lab's head, Jodi Goldstein, knows a thing or two about innovation, with more than 20 years' experience as a high-tech entrepreneur, investor and a stint as a venture capitalist. Here's what Harvard students learn about how to create an environment where innovation thrives

Posted on Wed, 25 May 2016:

UN laments absence of G7 leaders from key humanitarian summit, AP, 24 May 16:
At the closing of the World Humanitarian Summit in Istanbul, the 1st of its kind, UN's Ban said it was "disappointing that some world leaders" couldn't attend, singling out the Group of 7 nations - Canada, France, Germany, Italy, Japan, UK, and US. Only German Chancellor Merkel attended the summit

How do you know if a country is ready for business?, Yale Univ, 2 May 16:
When a global company decides whether, and when, to enter a country, it must consider a series of questions. Is the govt stable? Are financial and legal institutions strong? How pervasive is corruption? A CEO of a conglomerate explains how he approaches the challenge

From Miami to Mumbai - What makes cities competitive?, HuffPost, by M Giugale, 16 Dec 15:
It is every mayor's dream to govern a city where businesses thrive, jobs are abundant, and people are happy. They know they compete with other cities, both at home and abroad. And they know that there is no blueprint to guide them (New report highlights the world's most competitive cities)

Posted on Mon, 23 May 2016:

Kenneth Rogoff: Emerging markets should go for gold, Project Syndicate, 8 May 16 [via Business Standard/India]:
For some time, the rich nations have argued that it is in everyone's collective interest to demonetize gold. Sure, we hold a lot of gold, these nations say, but that is a vestige of the pre-WW II gold standard, when central banks needed a stockpile, writes recipient of '11 Deutsche Bank prize in financial econ

Dambisa Moyo: Unpicking the productivity puzzle, FT, 13 May 16 [courtesy Author's site via Google]:
Productivity - the measure of unit output per employee - is a key determinant of the pace of econ growth. The implications of productivity for the prospects of global growth are crucial, writes author of "Dead Aid", "How the West was Lost" and "Winner Take All" (Profile-Let's talk about agility, Swiss Mag)

The tenacious optimist, Columbia Univ, 30 Sep 15:
Joseph Stiglitz has emerged in the past two decades as a unique figure -- a French-style public intellectual with a peculiarly American penchant for numbers. Regularly selling out engagements around the globe, he has campaigned tirelessly on behalf of a simple, if radical idea

Posted on Fri, 20 May 2016:

Robert Shiller: To financial regulators - Don't fight the last financial crisis, Project Syndicate, 19 May 16 [via WEForum (blog)]:
What do people mean when they criticize generals for "fighting the last war"? It’s not that generals ever think they will face the same weapon systems and the same battlefields. They certainly know better. The error must operate at a more subtle level, writes Nobel Laureate '13

Experts debate policy options for China's transition, IMF Survey Mag, 18 May 16:
A recent research workshop in Wash DC explored a series of questions that have emerged as China shifts toward a new growth model. Is this the end of the growth miracle? Will the Chinese renminbi one day be as important as the US dollar? How worrisome is the rapid rise in housing prices?

Martin Feldstein: Ending the Fed's inflation fixation, WSJ, 17 May 16 [courtesy Harvard]:
The Fed continues to maintain excessively low interest rates in order to move toward its inflation target. This has created substantial risks that could lead to another financial crisis and economic downturn, writes Pres Reagan's Council Econ Advisers chair

Posted on Wed, 18 May 2016:

Joint report finds significant economic benefit of assisting refugees, Finanz Nachrichten, 18 May 16:
A new study highlights how accepting refugees and empowering them to succeed in the workforce can lead to significant econ growth. It shows how investing a euro in welcoming refugees can yield nearly 2 in econ benefits within 5 years (Joint report)

Dani Rodrik: Unfair trade goes beyond dumping, Project Syndicate, 17 May 16 [via Livemint/India]:
Economists have never been fond of the WTO’s anti-dumping rules. From a strictly econ standpoint, pricing below costs is not a problem for the importing economy as long as the firms that engage in the strategy have little prospect of monopolizing the market, writes Harvard prof

Coffee/Tea Break: Feldstein -- Recollections of a fmr Council Econ Advisers chair, Econ Report of Pres 2016 [PDF, courtesy Harvard]:
In my meetings with econ officials of other nations, I came to appreciate the unique role of the CEA. As chair, I reported directly to the Pres and presented my own views in testimony to Congress (Recollections of fmr CEA chairs Tyson, Romer, Mankiw, Stiglitz and Greenspan are in Chap.7 of the ERP) [PDF]

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