Posted on March 23, 2017 by iMFdirect
By Tobias Adrian and Maurice Obstfeld
Economic growth appears to be strengthening across the large economies, but that does not mean financial-sector regulation can now be relaxed. On the contrary, it remains more necessary than ever, as does international cooperation to ensure the safety and resilience of global capital markets. That is why the Group of Twenty (G20) finance ministers and central bank governors reiterated their support for continuing financial-sector reform at their meeting in Baden-Baden last week. Continue reading
Filed under: banking, Financial Crisis, Financial regulation, G-20, International Monetary Fund | Tagged: Basel Committee, Basel Committee on Banking Supervision, Basel III, Dodd-Frank Act, Financial regulation, Financial Stability Board, G20, global financial crisis, imfblog, Maurice Obstfeld, Tobias Adrian, United States | Leave a comment »
Posted on March 13, 2017 by iMFdirect
Technological change seems to be happening faster than ever. The prospect of driverless cars, robot lawyers, and 3D-printed human organs becoming commonplace suggests a new wave of technological progress. Continue reading
Filed under: Advanced Economies, aging, Economic research, growth, IMF, jobs, labor force, productivity, technology, wages | Tagged: advanced economies, aging, artificial intelligence, capital, communications, Finance & Development. F&D, global financial crisis, iMFdirect blog, labor force, productivity, Robert Solow, technology, Total Factor Productivity, wages | Leave a comment »
Posted on February 28, 2017 by iMFdirect
By Camilla Lund Andersen
Deep unease about rising inequality and stagnating living standards in advanced economies was at the heart of the 2016 political upheaval. Globalization and trade have been blamed, but entrenched slow growth—what economists call secular stagnation—may be the real culprit. Parents who took for granted that their children would enjoy a brighter future had their dreams dashed by the global financial crisis of 2008. Nine years later, rising populism and a return to nationalist, inward-looking policies threaten to unravel the postwar economic order. Continue reading
Filed under: Advanced Economies, developing countries, Emerging Markets, Globalization, growth, IMF, Inequality, trade | Tagged: economic growth, Finance & Development. F&D, GDP, global financial crisis, Globalization, IMF, iMFdirect blog, income distribution, inequality, nationalism, population aging, population growth, populism, secular stagnation, trade, youth | Leave a comment »
Posted on September 6, 2016 by iMFdirect
By Longmei Zhang
Version in 中文 (Chinese)
The word “rebalancing” is often used to describe China’s economic transition. But what does it mean? And how much is China rebalancing? A recent IMF paper attempts to answer these questions. Continue reading
Filed under: Advanced Economies, aging, Asia, China, climate change, Financial markets, growth, Inequality, International Monetary Fund, Reform | Tagged: aging, China, Chinese economy, Climate change, economic rebalancing, GDP, global financial crisis, IMF, iMFdirect, inequality, International Monetary Fund, investment, pollution, structural reforms | Leave a comment »
Posted on July 11, 2016 by iMFdirect
By Vivek Arora
Version in 中文 (Chinese), Español (Spanish)
IMF lending increased to unprecedented levels in the aftermath of the global financial crisis. As difficulties emerged, we extended financial support to countries across the world—in the euro area, Africa, Asia, the Middle East, and emerging economies in Europe.
The IMF tried to draw lessons in real time as the crisis evolved in order to adapt our operations. We reviewed individual programs and, from time to time, paused and took stock of our experience across countries.
Filed under: Economic research, Financial Crisis, Fiscal policy, IMF, International Monetary Fund, Multilateral Cooperation | Tagged: Africa, Arab Spring, Asia, crisis programs, emerging economies, Europe, financial crises, financing arrangements, fiscal policy, global financial crisis, IMF, iMFdirect, International Monetary Fund, Middle East, structural reforms | Leave a comment »
Posted on June 6, 2016 by iMFdirect
The global financial crisis led to a broad rethink of macroeconomic and financial policies in the global academic and policy community. Eight months into the job as IMF Chief Economist, Maury Obstfeld reflects on the IMF’s role in this rethinking and in furthering economic and financial stability.
Filed under: Economic research, Financial Crisis, Fiscal policy, IMF, International Monetary Fund, trade | Tagged: capital flows, competitive markets, financial stability, fiscal policy, global financial crisis, IMF, International Monetary Fund, macroeconomic stability, Maurice Obstfeld, trade | Leave a comment »
Posted on February 9, 2016 by iMFdirect
By Elva Bova, Marta Ruiz-Arranz, Frederik Toscani, and Elif Ture
(Version in Español)
Budgets can be full of surprises. And not always good ones. Often times, debt increases significantly because an unforeseen obligation materializes. These contingent liabilities, as they are known in the economist’s jargon, can have significant economic and fiscal costs. In fact, on many occasions, large and unexpected increases in debt across the world were due to the materialization of contingent liabilities. That is why they are often called hidden deficits.
Filed under: Asia, Economic Crisis, Financial Crisis, Fiscal, IMF, International Monetary Fund | Tagged: Asia, Asian crisis, bailouts, contingent liabilities, deficits, Europe, GDP, global financial crisis, Greece, growth volatility, public-private partnerships | Leave a comment »