Posted on November 2, 2016 by iMFdirect
By Jesus Gonzalez-Garcia and Montfort Mlachila
Versions in Français (French), and Português (Portuguese)
Migration of sub-Saharan Africans is growing rapidly. Just like the region’s population, the number of migrants doubled since 1990 to reach about 20 million in 2013. In the coming decades, migration will expand given the demographic boom in the working-age population—the group that typically feeds migration. We studied these trends in a recent paper because both receiving and sending countries need the right policies so all can benefit.
Filed under: Advanced Economies, Africa, developing countries, Economic research, Employment, growth, International Monetary Fund, labor force, Migration, refugees | Tagged: advanced economies, Cote d’Ivoire, demographics, economic growth, France, IMF, iMFdirect blog, International Monetary Fund, labor force, Migration, OECD, refugees, South Africa, Sub-Saharan Africa, United Kingdom, United States | Leave a comment »
Posted on August 4, 2016 by iMFdirect
By John C. Bluedorn and Christian Ebeke
Small businesses could be the lifeblood of Europe’s economy, but their size and high debt are two of the factors holding back the investment recovery in the euro area. The solution partly lies in policies to help firms grow and reduce debt.
Our new study, part of the IMF’s annual economic health check of the euro area, takes a novel bottom-up look at the problem. We analyze the drivers of investment using a large dataset of over six million observations in eight euro area countries, from 2003 to 2013: Austria, Belgium, Germany, France, Finland, Italy, Portugal, and Spain. Continue reading
Filed under: banking, Economic research, euro zone, Europe, Finance, Financial Crisis, IMF, International Monetary Fund, Investment, Public debt | Tagged: Austria, bank financing, banking, Belgium, credit risk, euro area, Europe, Finland, France, Germany, IMF, International Monetary Fund, investment, Italy, leverage, nonperforming loans, Portugal, public debt, small and medium-sized enterprises, Spain | 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 May 7, 2015 by iMFdirect
By Shekhar Aiyar, Bergljot Barkbu, and Andreas (Andy) Jobst
If financing is the lifeblood of European small businesses, then the effect of the financial crisis was similar to a cardiac arrest. The flow of affordable credit from banks was choked off and small and medium-sized enterprises (SMEs) were hit hardest. Today, with bank lending still recovering from that shock, smart policy actions could open up securitization as a source of financing to help small businesses start up, flourish and grow.
SMEs are vital to the European economy. They account for 99 out of every 100 businesses, two in every three employees, and 58 cents of each euro of value added of the business sector in Europe. Improving access to finance would therefore not only revive small businesses, but also support a strong and lasting recovery for Europe as a whole.
Filed under: Advanced Economies, Economic Crisis, Economic research, Europe, Finance, Globalization, growth, IMF, International Monetary Fund, Investment, Reform | Tagged: bank lending, bond markets, capital markets, credit, EU, Europe, France, Germany, infrastructure, Italy, private investment, Securitization, small and medium-sized enterprises, Spain | Leave a comment »
Posted on March 30, 2015 by iMFdirect
By Era Dabla-Norris, Vikram Haksar, and Kalpana Kochhar
Global growth remains anemic more than five years after the global financial crisis. If nothing is done, the prospect of settling into a “new mediocre” will become reality, especially in advanced economies.
In many advanced economies, accommodative monetary policies, growth-friendly fiscal frameworks, and efforts to tackle private debt overhang and improve tax revenues and compliance are essential to lift economic growth in the short term.
Filed under: Advanced Economies, Employment, Europe, Financial Crisis, growth, IMF, International Monetary Fund, Investment, Reform | Tagged: advanced economies, balance sheets, France, infrastructure, Italy, Japan, jobs, labor force, monetary policy, Portugal, reforms, women | Leave a comment »
Posted on February 19, 2015 by iMFdirect
By Bergljot Bjørnson Barkbu, S. Pelin Berkmen, and Hanni Schölermann
Investment in the euro area, and particularly private investment, has not recovered since the onset of the global financial crisis.
In fact, the decline in investment has been much more drastic than in other financial crises; and is more in line with the most severe of these crises (see Chart 1). The October 2014 World Economic Outlook showed that many governments cut investment because their finances became strained during the crisis. In addition, housing investment collapsed in some countries, reflecting a natural scaling back after an unsustainable boom. But what is holding back private non-residential investment?
Filed under: Advanced Economies, Economic Crisis, Economic research, Europe, Financial Crisis, growth, IMF, International Monetary Fund, Investment, Reform | Tagged: banking union, euro area, France, Germany, Greece, investment, Ireland, Italy, monetary policy, Portugal, Spain, structural reform | Leave a comment »