Posted on April 13, 2016 by iMFdirect
By Vitor Gaspar and Luc Eyraud
Versions in 中文 (Chinese), Français (French), Español (Spanish), 日本語 (Japanese), and Русский (Russian)
Public finances have had a rough year. A new reality is emerging. Against this backdrop, countries need to act now to boost growth and build resilience. They must also be prepared to act together to fend off global risks.
Filed under: Advanced Economies, Economic outlook, Economic research, Emerging Markets, Financial markets, Fiscal policy, growth, IMF, inflation, International Monetary Fund, oil | Tagged: advanced economies, emerging markets, Fiscal Monitor, fiscal policy, fiscal space, GDP, growth, IMF, low-income countries, public finances | Leave a comment »
Posted on March 31, 2016 by iMFdirect
By Vitor Gaspar and Ruud De Mooij
Versions in عربي (Arabic), 中文 (Chinese), Français (French), 日本語 (Japanese), Русский (Russian), Español (Spanish)
Imagine how three-dimensional printing, driverless cars and artificial intelligence will change our future. Or think of how developments in information technology, e-commerce and the sharing economy are already changing the way we learn, work, shop, and travel. Innovation drives progress and, in economic terms, determines productivity growth. And productivity growth, in turn, determines prosperity. It impacts our lives and well-being in fundamental ways: it determines where and how long we live; it determines our quality of life. Continue reading
Filed under: Fiscal, Fiscal policy, IMF, International Monetary Fund, technology | Tagged: Australia, Belgium, Chile, entrepreneurs, Fiscal Monitor, fiscal policy, France, IMF, iMFdirect, International Monetary Fund, jobs, Keynes, Korea, Netherlands, productivity growth, R&D, Shumpeter, Spain, tax policy | Leave a comment »
Posted on March 22, 2016 by iMFdirect
By David Lipton
Versions in عربي (Arabic), 中文 (Chinese), Français (French), 日本語 (Japanese), Русский (Russian), and Español (Spanish)
One of the first things most students of economics learn is the diamond and water paradox. How can it be that water is free even though life cannot exist without it, while diamonds are expensive although no one dies for lack of diamonds?
The answer is that water can be free if its supply is abundant relative to demand. Nevertheless, it is abundantly clear that worldwide, the demand for water outpaces supply. This imbalance is the clearest sign that water is underpriced. Yet, many governments are reluctant to price water like other goods.
Filed under: Africa, Fiscal policy, Government, growth, IMF, International Monetary Fund, Low-income countries | Tagged: Burkina Faso, David Lipton, fiscal policy, IMF, iMFdirect, low-income countries, public investment, subsidies, water, World Water Day | Leave a comment »
Posted on February 25, 2016 by iMFdirect
By Jeff Hayden
(Versions in عربي and Español)
Say “population growth” and many people immediately think of resources under stress. The mind jumps to 19th century scholar Thomas Malthus, who saw population outstripping the food supply, or to Paul Ehrlich, whose 1968 book The Population Bomb warned of global catastrophe from overpopulation.
Filed under: Africa, China, Employment, Fiscal policy, Government, growth, IMF, International Monetary Fund | Tagged: demographics, El Nino, employment, Finance & Development magazine, fiscal policy, inflation, oil prices, population aging, Sub-Saharan Africa, wages, women | Leave a comment »
Posted on January 11, 2016 by iMFdirect
by Vitor Gaspar, Michael Keen, and Ian Parry
(Versions in عربي, 中文, Español, and Français)
The Paris Agreement on Climate Change is a historic diplomatic achievement. Climate change is a global problem. Many believed that global problem solving would prove elusive: the benefits of cutting emissions arise globally while the costs of doing so are borne nationally, so national self-interest would prevent a meaningful agreement. Paris proves otherwise—creating a commonality of purpose at the global level. Continue reading
Filed under: Advanced Economies, climate change, Europe, Fiscal, Fiscal policy, IMF, International Monetary Fund | Tagged: carbon pricing, Climate change, COP-21, energy prices, energy subsidies, global energy subsidies, new technology, oil, Paris agreement | Leave a comment »