News and Analysis: 03-17 Oct 2016 | EmergingFrontierMarkets.com

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Posted on Mon, 17 Oct 2016:

BRICS development bank to lend $2.5 billion next year, Reuters, 16 Oct 16:
The development bank set up in 2015 by the BRICS group of emerging economies will ramp up lending to $2.5 bil. next year after making its 1st loans to back green projects, its pres said in Goa (BRICS bank carves 100% green niche with 1st loan rollout)

Cause, cure for inequality lies in policies, IMF News, 07 Oct 16:
In a seminar on inequality, globalization and technology, panelists agreed globalization has brought huge gains across nations. But nations now must meet the challenge, as incomes stagnate and social mobility - the ability to move up the income ladder - dissipates

Robert Barro: The reasons behind the Obama non-recovery, WSJ, 20 Sep 16 [PDF, courtesy Harvard]:
The Obama admin and some economists argue that the recovery since the Great Recession ended in '09 has been unusually weak because of the recession's severity and the fact that it was accompanied by a major financial crisis, writes Harvard economist

Posted on Fri, 14 Oct 2016:

Ahluwalia, Summers & Velasco: Building a better World Bank, not a bigger one, Bloomberg, 06 Oct 16:
We were pleased to lead a distinguished panel of experts from around the world in a yearlong examination of the role of multilateral devt banks in meeting this century's challenges, write India's Econ Planning Comm fmr dep chair; Pres Obama's Natl Econ Council fmr dir; & Chile's fmr fin min

Are sweatshops good or bad for the development of poor countries?, Quartz, 07 Oct 10:
It's a policy challenge facing many poor countries as they emerge as "China's successors"; providing low-cost manufacturing for wealthier parts of the world, says U Chicago economist Chris Blattman, co-author of the new study

Dean Karlan: Why I wrote a book about my failures, Innovations for Poverty Action (blog), 03 Oct 16:
We drew inspiration from Thomas Edison, who tried hundreds of materials before discovering that bamboo fiber could serve as a lightbulb filament, writes Yale U economist / IPA pres (Failing in the Field: What we can learn when field research goes wrong)

Posted on Wed, 12 Oct 2016:

International monetary system ill-equipped to handle global problems, say Asian economists in panel, IMF News, 07 Oct 16:
At a seminar on "Asia in the Evolving Intl Monetary System", fmr Asian policy makers pointed to the need for major central banks to pay more attention to the global impact of their monetary policies. But a U Calif-Berkeley prof was skeptical that greater intl cooperation would be possible

Joseph Stiglitz and Mark Pieth: The real scandal behind the Panama Papers, Vanity Fair, 29 Sep 16:
After the leak of more than 11 million documents detailing sensitive information about offshore financial and legal activities, I received a call from Panama's vice pres to help reform its practices. I dud wonder if the govt was serious, write Nobel Laureate 2001; and Univ Basel lawyer

Furman and Zients: Needing a license to work in so many jobs is hurting the economy, CNN Money, 17 June 16:
Like most econ policies, occupational licensing has benefits and costs. To be sure, when properly designed, licensing laws play an important role in improving quality of services and protecting public safety, write Pres Obama's Council Econ Advisers chair; and Natl Econ Council dir

Posted on Mon, 10 Oct 2016:

Nobel Prize in Economics - Hart (Harvard) and Holmström (MIT), "for their contributions to contract theory", Nobel, 10 Oct 16:
Contracts are essential to the functioning of modern societies. Their analysis of optimal contractual arrangements lays an intellectual foundation for designing policies and institutions in many areas, from bankruptcy legislation to political constitutions

Emerging markets well prepared for Fed rate increase, say central bankers at IMF panel, IMF News, 09 Oct 16:
In contrast to the situation in 2013, when emerging markets were caught off guard by currency volatility during the so-called "taper tantrum", a number of their central banks have adopted policies that have helped their countries absorb external shocks

Raging against the machine, Handelsblatt, 15 Sep 16:
As criticism of globalization has moved from the political margins into the mainstream, Harvard economst Dani Rodrik spoke to us about what went wrong and why citizens need to be brought back into the heart of the debate

Posted on Fri, 07 Oct 2016:

WB Pres Kim and Chief Economist Romer talk development, World Bank (blog), by D Barne, 05 Oct 16:
The two had a hour-long conversation before an overflow Annual Meetings crowd about some of the biggest risks and opportunities confronting the world today. The rapport between Kim and Romer quickly became clear

Low growth, interest rates impact financial stability, IMF News, 05 Oct 16:
Emerging markets must adapt to the new era of lower global growth, lower commodity prices, and reduced global trade, says latest Global Financial Stability Report. The bad news for banks in most emerging markets is that, while debt may have peaked, defaults are likely to rise further

Kenneth Rogoff: The sinister side of cash, WSJ, 27 Aug 16 [PDF, courtesy Harvard]:
When I tell people that I have been doing research on why the govt should drastically scale back the circulation of cash - paper currency - the most common initial reaction is bewilderment, writes author of The Curse of Cash (Sep 2016)

Posted on Wed, 05 Oct 2016:

Maurice Obstfeld: The world economy - Moving sideways, IMF (blog), 04 Oct 16:
A return to the strong, sustainable, balanced, and inclusive growth that Group of 20 leaders called for at Hangzhou in Sep still eludes us. Without determined policy action, sub-par growth at recent levels risks perpetuating itself, writes IMF chief economist

Spence: Escaping the 'new normal' of weak global econ growth, Proj Synd, 04 Oct 16 [via Taipei Times]:
Tackling the most urgent problems confronting the world economy will require action by multiple actors - not just central banks. Yet, thus far, monetary authorities have shouldered much of the burden of the crisis response, writes 2001 Nobel Laureate

Jim O'Neill: The BRICS 15 years after, Project Syndicate, 05 Oct 16 [via WEForum (blog)]:
The BRICS have lately been going through a rough time, Brazil and Russia, in particular. But the suggestion that the BRICS' importance was overstated is simply naïve, writes UK House of Lords member who coined the BRICS acronym

Posted on Mon, 03 Oct 2016:

The 2016 Citation Laureates, Thomson Reuters, 21 Sep 16:
Since 2002, this company has released its yearly additions to the elite roster of Citation Laureates. All the researchers have demonstrated themselves, by their contributions and citation records, to be "of Nobel class" and worthy of future Nobel recognition (Successful predictions)

5 ways to make global trade work for developing countries, WEForum (blog), by J Reiter, 29 Sep 16:
In 2016, the growth of world trade will be at its slowest since the financial crisis of '08. The real untapped potential for further trade growth lies in regulation. Some 96% of world trade is affected by at least one regulation, known as a "non-tariff measure", writes UNCTAD dep sec-gen

Spillovers from international migration and China's economic transition, IMF News, 27 Sep 16:
The population changes caused by migration and China's transition are two phenomena originating in emerging economies with spillovers that influence a whole range of other economies. A study of the spillovers is in a newly-released analytic chapter of the Oct 2016 World Economic Outlook

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