Posted on January 28, 2015 by iMFdirect
By David Marston, Era Dabla-Norris, and D. Filiz Unsal
(version in Español)
Economists are paying increasing attention to the link between financial inclusion—greater availability of and access to financial services—and economic development. In a new paper, we take a closer look at exactly how financial inclusion impacts a country’s economy and what policies are most effective in promoting it.
The new framework developed in this paper allows us to identify barriers to financial inclusion and see how lifting these barriers might affect a country’s output and level of inequality. Because the more you know about what stands in the way of financial inclusion, the better you can be at designing policies that help foster it.
Filed under: Advanced Economies, Africa, Asia, Economic Crisis, Economic outlook, Economic research, Emerging Markets, Financial Crisis, Financial regulation, Fiscal policy, growth, IMF, Inequality, International Monetary Fund, Low-income countries | Tagged: Colombia, Congo, Costa Rica, Egypt, El Salvador, financial inclusion, growth, Guatemala, Honduras, India, inequality, investment, Kenya, Malaysia, Mozambique, Nicaragua, Nigeria, Panama, Paraguay, Peru, Philippines, Uganda, Uruguay, Zambia | Leave a comment »
Posted on December 31, 2014 by iMFdirect
As 2014 draws to a close, we thought you might like a look back at the most read blogs of the year. These are the headlines and ideas that caught your eyes and the list is based on readership. We thought we’d pull them all together for you in one quick read.
Wishing you a wonky & worldy 2015 from all of us at iMFdirect.
Filed under: Advanced Economies, Asia, Economic outlook, Economic research, Emerging Markets, Employment, Europe, Finance, Financial Crisis, Fiscal, Government, growth, IMF, Inequality, International Monetary Fund, Investment, Latin America, Middle East, recession, unemployment | Tagged: carbon pricing, Caribbean, China, deflation, emerging market debt, euro area, house prices, inequality, lowflation, oil, redistribution, Russia, Saudi Arabia, shale oil | Leave a comment »
Posted on October 23, 2014 by iMFdirect
By Prakash Loungani
(version in 中文)
Raising the minimum wage is a polarizing issue. One side worries that raising it will lower employment. The other side downplays the impact on employment and plays up the positive impact on the living standards of the poor. Both sides are able to cling to their beliefs as the evidence, much of which comes from high-income (“advanced”) economies, is mixed.
The majority of the global labor force, however, is in the emerging markets. Moreover, for a number of these countries, instituting a minimum wage or raising it is squarely on the policy agenda. But little is known about the impacts of minimum wages on employment and living standards in emerging markets.
Filed under: Advanced Economies, Asia, Economic outlook, Economic research, Emerging Markets, Employment, Fiscal policy, Global Governance, growth, IMF, Inequality, International Monetary Fund, unemployment | Tagged: China, employment, income, labor force, labor market, manufacturing, minimum wage | Leave a comment »
Posted on October 14, 2014 by iMFdirect
By iMFdirect editors
What a week it’s been. Practical and existential questions on how to do good and be good for the sake of the global economy and finance dominated the seminars at the IMF’s Annual Meetings in Washington.
Our editors fanned out to cover what the panelists, moderators, and audiences said in a variety of seminars, and two big themes caught our eye.
Filed under: Advanced Economies, Annual Meetings, Asia, Civil Society, Economic outlook, Emerging Markets, Employment, Europe, Financial Crisis, Global Governance, growth, IMF, Inequality, International Monetary Fund, Investment | Tagged: Archbishop of Canterbury, Christine Lagarde, ethics, Europe, G-20, inequality, infrastructure, jobs, Larry Summers, Paul Krugman, seminars, shadow banking, Stanley Fisher, technology, unemployment, women | Leave a comment »
Posted on September 8, 2014 by iMFdirect
By Era Dabla-Norris
Much of the debate on inequality focuses on its deleterious social and political effects and its impact on growth. But an equally important issue is what policies play a clear role in reducing income inequality.
The results of our new study suggest that improvements in education—even more than factors such as government expenditure or financial sector development—have contributed in an important way to reducing income inequality within countries.
Filed under: Advanced Economies, Economic research, Emerging Markets, Finance, Globalization, growth, Inequality, International Monetary Fund | Tagged: education, expenditure reform, income inequality, inequality, technology, United States | Leave a comment »
Posted on September 4, 2014 by iMFdirect
As you trudge back to the office or cubie with a little sand still crunching in your backpack, you know the holiday is over. To help you catch up, here are some blogs to re-read to get you back into the swing of things.
Remember Europe? I thought so. The European Central Bank is center stage this week as inflation in Europe has hit a trough, which reminded me of our blog about deflation back in March that rattled a few cages.
Which brings us to what will or won’t happen with global interest rates, and their impact on well, pretty much everyone. We’ve analyzed the tea leaves so you don’t have to.
Filed under: Asia, Economic Crisis, Economic research, Emerging Markets, Europe, IMF, Inequality, International Monetary Fund, Low-income countries | Tagged: China, deflation, Europe, European Central Bank, Fiscal Monitor, Global Financial Stability Report, IMF/World Bank Annual Meetings, inequality, interest rates, United States, World Economic Outlook | Leave a comment »
Posted on September 2, 2014 by iMFdirect
By Jeff Hayden
You can call this edition of F&D magazine our Bob Dylan issue. It may seem odd for an economics magazine to draw inspiration from the legendary singer/songwriter, but one of his most famous lines, “The times, they are a-changin,’” reverberated through our corridors as we put together this special issue on the global economy’s past and future.
We weren’t humming the tune to pass the time. The lyrics seemed especially relevant to us this year, as we mark the 70th anniversary of the IMF and World Bank and the 50th anniversary of F&D. The world has seen a staggering amount of change in the past seven decades.
So, with these two anniversaries in mind and with Dylan’s ode to changing times in the air, we focused our attention on the transformation of the global economy—looking back and looking ahead. We wanted to address the question, what will the global economy look like in another 70 years?
Filed under: Economic outlook, Economic research, Financial Crisis, Globalization, growth, IMF, Inequality, International Monetary Fund, Reform | Tagged: Christine Lagarde, energy, Finance & Development magazine, Finance & Development. F&D, George Akerlof, global economy, inequality, Joseph Stiglitz, Ken Arrow, Michael Spence, Nobel Prize, Olivier Blanchard, Paul Krugman, Robert Solow, SGP. Martin Wolf | Leave a comment »