Posted on March 15, 2017 by iMFdirect
By Rabah Arezki and Akito Matsumoto
Versions in عربي (Arabic), Русский (Russian), and Español (Spanish)
In November 2014, the Organization of Petroleum Exporting Countries (OPEC) decided to maintain output despite a perceived global glut of oil. The result was a steep decline in price.
Two years later, on November 30, 2016, the organization took a different tack and committed to a six-month, 1.2 million barrel a day (3.5 percent) reduction in OPEC crude oil output to 32.5 million barrels per day, effective in January 2017. The result was a small price increase and some price stability. Continue reading
Filed under: Economic research, IMF, Investment, oil, trade | Tagged: Algeria, IMF, iMFdirect blog, infrastructure, investment, Iraq, Kuwait, Libya, Nigeria, oil, oil exporters, oil prices, OPEC, Russia, Saudi Arabia, shale oil, UAE, United States | Leave a comment »
Posted on March 14, 2017 by iMFdirect
By Christine Lagarde
Versions in: عربي (Arabic), 中文 (Chinese), Français (French), Deutsch (German), 日本語 (Japanese), Русский (Russian), and Español (Spanish)
Baden-Baden, the German spa town built on ancient thermal springs, is a fitting venue to discuss the health of the global economy during this week’s meeting of the Group of Twenty finance ministers and central bank governors.
Policymakers will likely share a sense of growing optimism, because the recent strengthening of activity suggests that the world economy may finally snap out of its multi-year convalescence. Continue reading
Filed under: Advanced Economies, G-20, growth, IMF, Investment, jobs, technology, U.S. | Tagged: China, Christine Lagarde, cross-border linkages, economic integration, euro area, G20, GDP, global economy, IMF, iMFdirect blog, inclusive growth, India, inequality, Japan, labor market reforms, Migration, spillover effects, tax reform, technology, 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 March 7, 2017 by iMFdirect
By Emine Boz, Luis Cubeddu, and Maurice Obstfeld
Versions in عربي (Arabic), 中文 (Chinese), Français (French), 日本語 (Japanese), Русский (Russian), and Español (Spanish)
Basic economic theory tells us that capital should flow from slow-growing rich countries to faster-growing poor ones in search of higher returns. A decade ago, our former Research Department colleagues Eswar Prasad, Raghuram Rajan, and Arvind Subramanian examined why the reverse had been true—capital generally flowed “uphill” from poorer to richer countries. Building on the seminal work of Robert Lucas, they argued that certain characteristics of poorer countries, such as weaker institutions and lower levels of education, may reduce the risk-adjusted returns to investing there. Continue reading
Filed under: Advanced Economies, capital flows, capital markets, China, developing countries, Economic outlook, Economic research, Emerging Markets, exchange rates, IMF, Investment, U.S. | Tagged: advanced economies, capital flows, China, developing economies, domestic saving, emerging economies, exchange rate flexibility, foreign exchange reserves, global capital allocation, IMF, iMFdirect blog, investment climate, Maurice Obstfeld, monetary policy, protectionism, United States | Leave a comment »
Posted on March 6, 2017 by iMFdirect
International Women’s Day and the United States’ February jobs report are both coming up this week. So, we decided today’s chart should focus on women and work.
Around the world, women seeking employment face barriers—from legal hurdles to disincentives like lower wages. Leveling the playing field could bring significant benefits. Continue reading
Filed under: Gender issues, health, IMF, inclusive growth, income, jobs, U.S., wages | Tagged: child care, education, employment, gender, gender wage gap, IMF, iMFdirect blog, inclusive growth, inequality, International Women's Day, jobs, tax reform, United States, women | Leave a comment »
Posted on March 3, 2017 by iMFdirect
Author and innovation guru, Alec Ross says that technology is shaping the industries of the future.
“Ninety percent of the world’s data has been produced in the last two years. In fact, if you take the sum of all the information produced by human kind—from paintings on cave walls—to the year 2003, the sum of that data we now produce every two days.” Continue reading
Filed under: commodities, IMF, technology, trade, U.S. | Tagged: Alec Ross, business, data, digital economy, IMF, IMF podcasts, iMFdirect blog, industry, innovation, technology | Leave a comment »