Posted on August 1, 2012 by iMFdirect
By Jerry Schiff
(Version in 日本語)
As a Japanese proverb has it: “Knocked down seven times, get up eight.”
In a display of its resilience, Japan is getting up once again after the devastating earthquake and tsunami of a year ago. But the world’s third largest economy still faces multiple challenges, and in our latest assessment of the country’s economy, the Japanese mission team at the International Monetary Fund has proposed a range of mutually reinforcing policies to strengthen confidence, raise growth and help restore Japan’s economic vitality.
A year and four months ago, Japan was reeling from the Great East Japan earthquake and accompanying devastation. As well as the tragic loss of life, the economy was badly shaken. Supply chain disruptions brought production in parts of Japan to a virtual halt. Yet, since then, the country has shown its resilience, with reconstruction contributing to strong first quarter growth of 4¾ percent.
But despite this hopeful sign, all is not well.
Filed under: Advanced Economies, Asia, Civil Society, Economic Crisis, Economic outlook, Economic research, Financial Crisis, Fiscal policy, growth, IMF, Politics | Tagged: adjustment, banks, debt, earthquake, euro, FSAP, Great East Japan earthquake, Japan, jobs, Labor, supply chain, tsunami, women | 2 Comments »
Posted on June 28, 2012 by iMFdirect
By David Coady and Sanjeev Gupta
The issue of rising income inequality is now at the forefront of public debate. There is growing concern as to the economic and social consequences of the steady, and often sharp, increase in the share of income captured by higher income groups.
While much of the discussion focuses on the factors driving the rise in inequality—including globalization, labor market reforms, and technological changes that favor higher-skilled workers—a more pressing issue is what can be done about it.
In our recent study we find that public spending and taxation policies have had, and are likely to continue to have, a crucial impact on income inequality in both advanced and developing economies.
In advanced economies, this is especially important given that the ongoing fiscal adjustment needs to be continued for many years to reduce public debt to sustainable levels. But it is equally important in developing economies where inequality is relatively high.
Filed under: Advanced Economies, Civil Society, Economic research, Emerging Markets, Employment, Globalization, growth, Inequality, Politics, Public debt | Tagged: 99%, automatic stabilizers, David Coady, education, fiscal policy, Globalization, health, higher-skilled workers, iMFdirect blog, inequality, Ireland, labor market reforms, loopholes, OECD, poverty, property, redistribution, Sanjeev Gupta, Spain, tax, technological change, top 1%, unemployment benefits, United States, wealth | 10 Comments »
Posted on May 20, 2012 by iMFdirect
The IMF’s well written Finance & Development
magazine has recently published two helpful online compilations of articles that may be useful to students and those interested in economic issues. They are rich collections of material that are totally free!!
1. Back to Basics
— explaining some fundamental concepts in Economics and Finance
- listen to regular audio podcasts with leading experts on development issues around the world–or download from iTunes.
- and get free a neat new ipad app for IMF news and data–it lets you chart and view global economic indicators and forecasts
Filed under: Africa, Asia, Civil Society, Debt Relief, Economic Crisis, Economic outlook, Economic research, Emerging Markets, Employment, Europe, Finance, Financial Crisis, G-20, Global Governance, growth, IMF, Inequality, International Monetary Fund, Investment, Latin America, LICs, Low-income countries, Middle East, Multilateral Cooperation, Politics, Public debt | Tagged: Back to Basics, compilation, Finance & Development. F&D, G+, Google+, IMF Survey online, interviews, iTunes, news, Nobel Prize, People in Economics, podcasts, profiles, research | 1 Comment »
Posted on September 19, 2011 by iMFdirect
Recent turbulence in financial markets and increased risks in the global economy mean that the 2011 Annual Meetings of the IMF and World Bank are taking place at a critical time for the global economy.
Economic leaders will come together to assess the state of the world economy and discuss the policy actions needed to deal with today’s global economic challenges. The IMF’s updated forecast for the world economy will be published September 20.
About 10,000 policymakers, private sector and civil society representatives, journalists, and academics are expected to attend the Annual Meetings, which are set to take place on September 23–24.
In an interview, Reza Moghadam, Director of the IMF’s Strategy, Policy, and Review Department, discusses the issues that are likely to receive most attention at the meetings. Continue reading
Filed under: Advanced Economies, Annual Meetings, Civil Society, Economic Crisis, Emerging Markets, Financial Crisis, IMF, International Monetary Fund, Low-income countries | Tagged: 2011 World Bank-IMF Annual Meetings, Annual Meetings, bilateral surveillance, collective action, Consolidated Multilateral Surveillance Report, crisis lending, financial market turbulence, global economic recovery, governance reform, IMF, IMF governance, IMF lending, IMF surveillance, International Monetary Fund, low-income countries, multilateral surveillance, policy buffers, Reza Moghadam, risks | 4 Comments »
Posted on April 14, 2011 by iMFdirect
With global challenges that require global solutions—the theme of the meetings—IMF Managing Director Dominique Strauss-Kahn reminds us that this is “not the time for complacency.”
Government ministers and officials, members of civil society organizations, journalists, and others are flocking to Washington DC this week to discuss and decide on key issues facing the global economy. Continue reading
Filed under: Annual Meetings, Civil Society, Economic outlook, Employment, IMF, Inequality, International Monetary Fund, Multilateral Cooperation | Tagged: capital controls, cooperation, Fiscal Monitor, Global Challenges Global Solutions, global economy, Global Financial Stability Report, global financial system, global imbalances, Globalization, IMF-World Bank Spring Meetings, inequality, international monetary system, policy coordination, unemployment, World Economic Outlook | 3 Comments »
Posted on December 15, 2010 by iMFdirect
By Leslie Lipschitz
(Version in Español | Français | عربي )
Countries rich in natural resources are often looked at with envy: they face few financial constraints and that should speed their development path. But the reality is less rosy. Countries with an abundance of natural resources—typically oil, gas or minerals—have, on average, performed less well than comparable non-resource rich countries.
That raises one of the perennial questions in economic policymaking. How to manage the economic and social challenges that stem from resource wealth? Or, to borrow the words of Professor Thorvaldur Gylfason (University of Iceland), how to prevent “nature’s bounty” from “becoming the curse of the common people”? Continue reading
Filed under: Africa, Civil Society, International Monetary Fund, Low-income countries, Middle East | Tagged: development, distribution of profits, exchange rate regimes, exploration costs, fiscal policy, gas, good governance, High Level Seminar on Natural Resources, investment strategy, minerals, monetary policy, natural resources, oil, resource wealth, sovereign wealth funds, stable macroeconomic environment, technical assistance, training | 3 Comments »