Greece, Complacency, and the Euro
The euro may not be doomed, but those who want to believe that the crisis is over cannot afford to be foolishly complacent, either. […]
Year: 2015
Emerging nations and the return of geopolitics—Second Roundtable
A slowing global economy has uncovered wide disparities in performance across developing countries. Meanwhile, in 2014, growing tensions among large nations have elicited concerns about the return of geopolitics. […]
Economic Integration in the Time of Turmoil
Economic integration is crucial in order to achieve rapid and sustainable growth. However, instabilities in the Middle East and North Africa and the recent plunge in oil prices may stifle economic progress. […]
How Should We Respond to Lower Oil Prices?
The politics of raising fuel taxes and simultaneously giving American households an income tax break may be impractical, but the economic logic of doing so remains compelling. […]
Will China Derail the Global Recovery?
The short-term China risk must be watched,but the likelihood of a major economic crisis in China spilling over onto the rest of the world and derailing the global recovery is low. […]
Policy Response to the Plunge in Oil Prices
The plunge in oil prices will only stimulate global and national aggregate demand if it is passed through to consumers. […]
Deindustrialisation and Development
While manufacturing played a key role in some countries’ development, high growth can be sustained without relying primarily on manufacturing. […]
That Absurd Fear of Stagnation
Seven years after the outbreak of the financial crisis, bad policies, deficient institutional arrangements, and the mistakes of the past are still tying some of the world’s largest economies down. […]
Is Manufacturing Still a Key to Growth?
Manufacturing is declining as a share of GDP not only in advanced countries, but in developing countries as well. This new trend, a result of complex forces, should be seen on balance as a reason for development-optimism, not pessimism. […]
The Global Economy and China: The View From a Mountain Top
China’s very high rates of saving and investment in infrastructure, plants and equipment, research and development, and human capital should be seen more as a source of strength than of weakness. […]