Will Developing Economies Help Sustain the Global Recovery?
Growth in emerging economies has slowed from torrid post-crisis rates, but remains high and will likely mitigate—but not fully compensate for—a sharp slowdown in advanced countries. […]
Articles
It Is Too Early to Withdraw Fiscal Stimulus?
Private demand is not yet strong enough in advanced countries to compensate for the drag to come from fiscal stimulus withdrawal. Large countries that can afford to delay the withdrawal should do so. […]
The Global Outlook and Prospects for Capital Flows
Following the financial crisis, advanced countries are weak and recovering unsteadily, implying that capital flows to emerging markets are likely to be volatile in the years ahead. […]
Is More Fiscal Stimulus Needed?
Countries that can afford to continue to spend, including the United States, should not abandon fiscal stimulus until the private sector recovery is clearer. […]
The Future of the World Trading System
As international integration deepens and the global trading system becomes increasingly more complex, the WTO can take important steps to not only promote trade liberalization, but also to reaffirm its role as the ultimate regulator of global trade. […]
G20 Could Shed More Light, Less Heat
While the G20 is right to concentrate on short-term macroeconomic policy for now, its rhetoric must shift to better reflect reality, and more attention needs to be paid to structural reforms. […]
Global Trade on the Mend but Serious Risks Remain
The strong recovery in global trade is now threatened by the European debt crisis, which will depress demand in Europe, reduce trade financing, and potentially force the early withdrawal of stimulus measures across the G20 and increase protectionism. […]
Europe’s Second Banking Crisis?
Still recovering from the Great Recession, European banks are now threatened by the debt crisis. Policy makers in Europe must act quickly to restore the banking system to health, beginning with fixing their fiscal mess. […]
Why is Obama Calling Merkel?
The United States has a vital interest in containing the Euro crisis, and Germany’s leadership or lack of it will determine whether the response to the crisis succeeds or the euro zone unravels. […]
Fair Competition was Distorted but There is No Protectionist Surge
The Great Recession prompted a number of far-reaching government interventions. While those interventions did distort competition, they did not do so in an overly protectionist way that risks undermining markets in the longer-term. […]