News and Analysis: 18-29 June 2017 | EmergingFrontierMarkets.com

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Posted on Thu, 29 June 2017:

Another financial crisis 'in our lifetimes' unlikely, Yellen says, AP, 28 June 17 [via CBC News]:
Fed Chair Janet Yellen told an audience in London on Tue that she believes banking regulators have made enough improvements to the financial system that the world will not experience another financial crisis "in our lifetimes"

Shades of Neville Chamberlain in Yellen's crisis prediction, Real Clear Markets, by D Lachman, 29 June 17:
One has to hope for our sake that Mrs. Yellen's bold prediction does not come back to haunt her through the annals of time as did the hapless Mr. Chamberlain's statement come to haunt his memory, writes Amer Enterp Inst fellow

Twenty years after the Asian financial crisis - The evolution of Asian fin cooperation, Asian Devt Bank Inst (blog), 30 May 17:
When Asia was hit by its crisis, policy makers were quick to call for regional solutions to what was perceived to be a common problem: the dependence on foreign finance, write Inst res assoc and dir (Brief history of crisis | 10 lessons learned [PDF]) (via Harvard)

Posted on Tue, 27 June 2017:

Great recession fears as bankers warn next global crash could arrive 'with a vengeance', Independent/UK, 26 June 17:
A new financial crisis is brewing in the emerging economies and it could hit "with a vengeance". The Bank for Intl Settlements, sometimes known as the central bank for central banks, warns of trouble ahead (Remarks by BIS economists Borio and Shin)

Why India is the fastest-growing economy on the planet, Columbia Univ, 09 Dec 16:
Harvard's Dale Jorgenson wanted to know just what India did in recent years to goose its economy. Beyond truisms that academics, politicians and laypeople have credited with econ growth, he sought some quantifiable metrics

Martha Nussbaum's moral philosophies, New Yorker, by R Aviv, 25 July 16:
She was steered toward the issue of quality of life in the developing world by Amartya Sen. In 1986, they became romantically involved and worked together at the World Inst Devt Econ Res (An exchange bet. Univ Chicago's Nussbaum and MIT's Amsden)

Posted on Sun, 25 June 2017:

Jeffrey Frankel: Trump's sugar swamp, Project Syndicate, 22 June 17 [via Nacion/Costa Rica]:
US sugar producers have often received trade protection, in the form of import tariffs and quotas, to ensure that domestic sugar prices far exceed those in supplier nations like Brazil, Dominican Rep and Mexico, writes Harvard economist

Global cities index – NY, London, Paris, Tokyo, Hong Kong top rankings, A T Kearney, 01 June 17:
New York and London claim the No.1 and 2 spots, respectively, as the world's most global cities. The index provides insights into the current global reach, performance, and level of development of the world's largest cities

Regulating infrastructures in the tropics, Rand (blog), by Van Stolk and assoc, 26 May 17:
Questions about how to design regulatory regimes to support the development of infrastructures are at the forefront of international debates across a range of nations, write analysts from Rand and London Sch Econ

Posted on Thu, 22 June 2017:

African, Asian, and European cities top cost-of-living rankings for expat destinations, Mercer, 21 June 17:
The most expensive city, driven by cost of goods and security, is Luanda, Angola, acc to the survey. Other cities in the top 5, respectively, are: Hong Kong, Tokyo, Zurich, and Singapore

What's wrong with our system of global trade and finance, Talking Points Memo, by J Judis, 09 June 17:
I first learned of Dani Rodrik in ‘97 when I came across his pamphlet, Has Globalization Gone Too Far?. That created a sensation in a Washington awash with "new economy" optimism. It was an opening salvo against what he has come to call "hyper-globalization"

Robert Shiller: Economics and the human instinct for storytelling, Univ Chicago, 08 May 17:
Your mind is really built for narratives, and esp. narratives about other humans. That is why advertisers tend to focus not on a product itself, but rather on somebody doing some human action related to the product, writes 2013 Nobel Laureate

Posted on Tue, 20 June 2017:

Global Innovation Index 2017 - Switzerland, Sweden, Netherlands top annual ranking, Cornell U/ INSEAD/ WIPO, 15 June 17:
Switzerland, Sweden, Netherlands, US and UK are the world's most-innovative countries, while a group of nations incl India, Kenya, and Viet Nam are outperforming their devt-level peers, acc to the index

Martin Feldstein: Why the US is still richer than every other large country, Harvard Bus. Rev, 20 Apr 17 [courtesy Harvard]:
Each year, the US produces more per person than most other advanced economies, like Germany, France, UK and Italy. The US remains richer than its peers. But why?, asks Pres Reagan’s Council Econ Advisers chair

Pathways to profits for micro and small enterprises, Intl Growth Ctr/UK (blog), by B Zia, 11 Oct 16 [via World Bank]:
Numerous studies on micro and small firms from around the world have shown that: (a) microenterprises are ubiquitous; and (b) only a very small percentage of such firms scale up to become SMEs. The obvious question is why?, asks WB senior economist

Posted on Sun, 18 June 2017:

Michael Boskin: Birth of a Trump doctrine?, Project Syndicate, 16 June 17 [via Japan Times]:
The US pres views himself as a great deal-maker, but it remains to be seen if his strategy of renegotiating or withdrawing from one intl accord at a time will prove effective, writes Pres GH Bush's Council Econ Advisers chair

Five innovations at the Asian Infrastructure Investment Bank, Ctr Global Devt, by Birdsall and Morris, 25 May 17:
We visited the AIIB a few weeks ago, and heard more about what is likely to be the same - as at the 5 big legacy banks (World Bank and the 4 regional devt banks) - and what is likely to be different, write Ctr pres emeritus; and senior fellow

A case for cautious optimism - Global foreign direct investment to rise by 5 percent in 2017, United Nations, 07 June 17:
Global FDI is expected to rise by 5 pct due to higher econ growth expectations across major regions, a resumption of growth in trade and a recovery in corporate profits, acc to the "World Investment Report 2017"

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