News and Analysis: 02-14 Sep 2016 | EmergingFrontierMarkets.com

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Posted on Thu, 15 Sep 2016:

World Bank presidents, ranked - from McNamara to Kim, Ctr Global Devt (blog), by Sandefur & Patel, 09 Sep 16:
Does the evidence support the allegation that the WB's core work is really suffering? It turns out to be a hard question to answer. The best we can do is compare two key indicators of WB performance, write Ctr senior fellow; and res asst

Overcoming global turbulence to reawaken economic growth, McKinsey, by Kauffman, Lin & assoc, Sep '16:
The era of easy economic growth has ended, but policy makers and business leaders can target three areas to increase prosperity in a politically and socially volatile world, write McK East Asian ofcs consultant & senior partners

Charles Wolf: Central bank perversity, International Economy Mag, July '16 [courtesy Rand Corp]:
In the crowded annals of well-intended public policies whose unintended consequences are often perverse, a standout performer is aggressive monetary policy, writes Corp's disting. chair in intl econ

Posted on Mon, 12 Sep 2016:

David Wessel: What would Clintonomics bring? Breaking down Hillary's economic policy, WSJ, 18 Aug 16 [courtesy Brookings]:
It's worth looking at what her campaign positions reveal not only about her substantial differences with Trump, but also for clues to how she might approach econ policy as pres, writes Inst Hutchins Ctr Fiscal/Monetary Policy dir

Jeffrey Frankel: Trump fiscal follies, Financial Advisor Mag, 29 Aug 16 [courtesy Harvard]:
Promises made during a campaign rarely match actions taken once in office. Yet, we cannot simply ignore candidates' policy promises. This is why it is important to examine Trump's recent tax proposal, writes Harvard economist

Homi Kharas: The future of work in the developing world, Brookings (blog), 08 Sep 16:
Labor markets everywhere are changing dramatically as a consequence of technology and globalization. This was the theme of the annual three-day roundtable held at the Aspen Inst, writes Inst Global Economy & Devt dep dir

Posted on Fri, 09 Sep 2016:

Adam Posen: Negative interest rates are not the drama they seem, FT, 23 Aug 16 [courtesy Peterson Inst]:
The drama and division among central bankers reflect two intellectual errors that have distorted monetary policy discussions. These are the same mistakes that led to the demonization of quantitative easing as "unconventional" and thus dangerous, writes Inst pres

Swimming upstream - profile of Ctr Global Devt (CGD) founding pres, Finance & Development, 01 Sep 16:
NYU's William Easterly points to Birdsall's integrity to explain how the CGD built a strong reputation. Just as she had not been captured by the Inter-American Devt Bank or the World Bank, Birdsall took pains not to prejudge the evidence her researchers would unearth

Dani Rodrik: The elusive promise of structural reform, Milken Inst Review, 2nd qtr '16:
Structural reform - or more accurately talk of structural reform - is everywhere nowadays. In practice, it has come to represent a grab bag of policies meant to enhance productivity and improve the functioning of the supply side of the economy, writes Harvard prof

Posted on Wed, 07 Sep 2016:

US bank group chief economist calls for EU and China to use helicopter money, Epoch Times, 15 July 16:
Many say Bernanke is once again responsible for stocks making new highs. He reportedly went to Japan recently to promote the idea of helicopter money - the outright monetization of fiscal deficits by the central bank without any obligation to ever repay the money

Helicopter money - reality bites, Nikkei Asian Review, by Borio & Disyatat, 04 Sep 16 [courtesy Bank for Intl Settlements]:
Proponents see it as a sure-fire way to boost nominal spending by harnessing central banks' most primitive power: their unique ability to create money at will. But can it work in the way its proponents claim?, ask BIS econ dept head; and Bank of Thailand Res Inst exec dir

Doing good business, for profits, people and the planet, OECD (blog), by E Solheim, 18 July 16:
Although some nations are making progress, no nation has achieved environmental sustainability. For example, Brazil has reduced poverty and inequality while cutting deforestation by 80%, writes Devt Assistance Cmte fmr chair

Posted on Mon, 05 Sep 2016:

G20 promises to coordinate on economy, but little in way of concrete steps, Reuters, 05 Sep 16:
The two-day gathering in Hangzhou agreed on Mon to oppose protectionism, with Chinese Pres Xi Jinping urging world's top economies to drive growth through innovation, not just fiscal and monetary measures

Kenneth Rogoff: Why cash isn't king any more, Project Syndicate, 05 Sep 16 [via Guardian]:
The world is awash in paper currency, with the $100 bill accounting for almost 80% of the US's stunning $4,200 per capita cash supply, writes recipient of the '11 Deutsche Bank Prize in fin econ / author of The Curse of Cash (2016)

Rethinking poverty - Q&A with MIT's Banerjee, IMF News, 19 Aug 16:
Anti-poverty programs often fail because of an inadequate understanding of poverty by policy makers. Q - Why do we know so little about the more than one billion poor people in the world?; If people are given more opportunities, will they be more successful at pulling themselves out of poverty?

Posted on Wed, 02 Sep 2016:

As G20 seeks to spur global economy, fiscal push still elusive, Reuters, 02 Sep 16:
World leaders heading to a summit in China this weekend are likely to renew their promises to use tax and spending policies to invigorate the sluggish world economy, but the chances of a meaningful new pro-growth push look slim

How Cuba kept Zika at bay for so long, Nature, 17 Aug 16:
Cuba has been among the last in the Caribbean to succumb to local transmission of Zika. It managed to keep it out until this month. That success was the result of its excellent health-care system and an extensive surveillance program that the govt set up 35 years ago

Bits & Bytes: Hal Varian -- Intelligent technology, Finance & Development, 01 Sep 16:
I believe that technology is generally a force for good - but there is a dark side to the force. Improvements in coordination technology may help productive enterprises but at the same time improve the efficiency of terrorist orgs, writes Google's chief economist

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