Posted on September 8, 2016 by iMFdirect
By Maurice Obstfeld
Versions in: عربي (Arabic), 中文 (Chinese), Français (French), 日本語(Japanese), Русский (Russian), Español (Spanish)
A longstanding challenge for the global economy is the possibility that some countries compete for export markets through artificially low prices. Political leaders and pundits sometimes propose import tariffs to offset the supposed price advantages and exert pressure for policy changes abroad. What proponents often fail to realize is that such tariff policies, while certainly hurting their targets, can also be very costly at home. And surprisingly, the self-inflicted harm can be substantial even when trade partners do not retaliate with tariffs of their own. Continue reading
Filed under: Advanced Economies, Asia, Economic outlook, Employment, IMF, International Monetary Fund, trade, U.S. | Tagged: East Asia, employment, exports, GDP, IMF, iMFdirect, imports, International Monetary Fund, tariffs, trade, United States, World Economic Outlook, World Trade Organization, WTO | Leave a comment »
Posted on May 5, 2016 by iMFdirect
By Rahul Anand, Kalpana Kochhar, and Saurabh Mishra
The expansion of India’s exports of services between 1990 and 2013 has been nothing short of spectacular, putting India on a par with the world’s high-income economies in terms of service-product sophistication and as a share of total exports. This has created unique opportunities for continued growth. By contrast, when it comes to exports of manufactured goods, India has lagged behind its emerging-markets peers, both in quality and as a percentage of the total export basket, leaving substantial room for improvement.
Filed under: Advanced Economies, developing countries, Emerging Markets, India, International Monetary Fund, trade, U.S. | Tagged: advanced economies, East Asia, emerging markets, exports, IMF, iMFdirect blog, India, International Monetary Fund, low-income countries, Middle East, trade | Leave a comment »
Posted on February 23, 2015 by iMFdirect
By Christine Lagarde
(Versions in 中文, Français, 日本語, Русский, عربي and Español)
Leveling the legal playing field for women holds real promise for the world—in both human and economic terms. Unfortunately, that promise remains largely ignored and its potential untapped. In too many countries, too many legal restrictions conspire against women to be economically active—to work.
What can be done to remove these barriers? A new study done by IMF economists seeks to answer that question.
The bottom line? It’s about a fair, level playing field.
Filed under: Africa, Asia, Economic research, Employment, Global Governance, growth, IMF, Inequality, International Monetary Fund, Latin America, Middle East, Reform | Tagged: child care, East Asia, education, Egypt, employment, empowering women, female labor participation, gender wage gap, Japan, Kenya, labor force, labor market, labor regulations, Middle East and North Africa, Namibia, Peru, U.A.E, U.S., women | Leave a comment »
Posted on November 1, 2013 by iMFdirect
By Olivier Blanchard
Several years out from the global financial crisis, the world economy is still confronting its painful legacies. Many countries are suffering from lackluster recoveries coupled with high and persistent unemployment. Policymakers are tackling the costs stemming from the crisis, managing the transition from crisis-era policies, and trying to adapt to the associated cross-border spillovers.
Against this background, the IMF’s 14th Jacques Polak Annual Research Conference, entitled “Crises: Yesterday and Today,” to take place on November 7-8, will take stock of our understanding of past and present crises.
This year’s conference will be a special one as we shall honor Stanley Fischer’s many contributions to economic research and policy. Stan has extensively studied economic and financial crises, first as a faculty member at the Massachusetts Institute of Technology, and then as a policymaker with many hats over the years―the Chief Economist of the World Bank, the First Deputy Managing Director of the IMF, and the Governor of the Bank of Israel.
Filed under: Asia, Economic Crisis, Economic outlook, Economic research, Europe, Finance, Fiscal policy, Global Governance, IMF, International Monetary Fund, Latin America, Multilateral Cooperation | Tagged: central banks, East Asia, financial stability, fiscal policy, IMF Annual Research Conference, IMF Jacques Polak Research Conference, interest rates, Japan, Latin America, macroeconomics, Olivier Blanchard, Paul Krugman, stanley Fischer, United States | 2 Comments »
Posted on May 17, 2012 by iMFdirect
By Anoop Singh
(Version in 中文)
Here’s the good news: thanks to relatively strong fundamentals and good policies, Asian economies have coped well with the global market turbulence of recent years. Now the bad: a major financial shock—say, of type ignited by the bankruptcy of U.S. investment bank Lehman Brothers in 2008—is likely to have a substantial impact on Asia. The reason: Asia’s increasing financial interconnectedness.
Over the past two decades—in line with the region’s growing role in the global economy—Asia’s equity markets have become increasingly sensitive to global financial developments. More specifically, we have discovered that equity returns in Asia generally now move in tandem with those in systemic economies. (By systemic economies, we are talking here about those countries—such as the United States and the United Kingdom which are home to major, global, financial centers such as Wall Street and the City of London.)
How do we measure that degree of financial interconnectedness? Or put another way, how do we measure the relationship—if any—between those Asian equity returns and the performance of systemic economies?
Filed under: Advanced Economies, Asia, Economic research, Europe, Financial Crisis, Globalization, International Monetary Fund, Investment, Politics | Tagged: Anoop Singh, bankruptcy, betas, China, East Asia, Hong Kong, iMFdirect blog, interconnectedness, Lehman Brothers, macroeconomic policy, research, Singapore, stocks, systemic | 2 Comments »