The Botched Rescue in Cyprus
The decision to endorse a bailout deal that included a levy on bank deposits was legally dubious, morally unjustifiable, managerially inept, and economically foolish. […]
Caucasus
In Search of the Global Middle Class: A New Index
The number of passenger cars in circulation can act as a direct measure of the middle class in developing countries. […]
Emerging Markets Reshaping the World
Developing countries are transforming every aspect of global economic interaction. Global leadership is needed to ensure that this shift is marked by increased prosperity rather than conflict. […]
Juggernaut: How Emerging Markets Are Reshaping Globalization
In the years to come, the rise of emerging economies will reshape the global economic landscape. This monumental shift will enhance prosperity but also create great tensions that could stop progress in its tracks. […]
Why Are Reserves So Big?
The dramatic increase in official foreign exchange reserves in developing countries has prompted accusations of protectionism, but developed countries are equally to blame for the recent increase. […]
Hot in the South
In order to prevent another boom-bust episode—this time in developing countries—policy makers must act soon to cool the rising temperatures in several rapidly growing emerging markets. […]
Russia’s Accession to the WTO
Russia is the only major economy that is not a member of the WTO, but discussions over its accession have intensified, giving rise to important questions about the implications for world trade. […]
Russia in the Global Storm
Russia is among those countries that have been hardest hit by the global economic crisis. The country’s leadership can help avoid long-term economic and social problems by taking quick and targeted action to mitigate its impact on households. […]