EconoMonitor

Economics Blog Aggregator

    Emerging Markets

  • Zambian Economist

    Africa's Incredible Economic Potential

    Editor's note:  The article below highlights Africa's economic potential in ten charts. It has been put together by Michael Johnston, senior analyst for All Emerging Markets. If some key hurdles can be cleared, Africa could experience explosive GDP growth over the coming decades.At present, the contributions of Africa to the global economy are often overlooked. With a GDP of roughly $1.6 trillion, sub-Saharan Africa equals roughly 10 percent of the U.S. total and 2 percent of the global total. In the coming decades, however, Africa is poised to experience incredible growth that will make it a meaningful contributor to the global economy.Population ExplosionAfrica's population is expected to grow significantly over the next several decades, while many developed...more

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  • Zambian Economist

    Zambia's falling education standards!

    By Michael ChishalaAbout thirty years ago, the Zambian public education system was something to talk about. We had quality expatriate teachers from all over the world (eg India, West Africa, East Africa, the UK and USA) in addition to our own wonderful locally bred educators. We learned with kids from all kinds of nationalities. Whites, Indians, Chinese and even Koreans were in the public schools. Even up to the late 80s we had Indians still with us and a literacy rate of almost 70% of 15-24 year olds.Our education system produced the highest rate of IQ in Southern Africa as measured by the Special Paper 1 and 2 in the GCSE Primary School system. When the Zambian economy began to tank in the late 80s, we exported plenty of professionals, especially teachers to Botswana...more

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  • Zambian Economist

    Zambia's electricity crisis

    Zambia is in the middle of a crippling electricity crisis as the country grapples with a 560 MW power deficit, a situation likely to only get worse as demand for electricity grows 200MW annually. ZESCO has embarked on a countrywide power rationing mechanism in order to preserve the limited water available for power generation until the 2015/16 rainy season. The shortage of electricity has been building for some time but has become more pronounced with reduced water levels at Kariba North Bank Power Station, Kafue Gorge Power Station and Victoria Falls Power Station. Zambezi River Authority CEO Munyaradzi Munodawafa recently warned that Zambians should brace themselves for total blackout by November 2015 if nothing is done about the low water levels at Kariba Dam. He has...more

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  • Ajay Shah's blog

    Author: Nidhi Aggarwal

    Self trading is not synonymous with market abuse, 29 July 2015. The changing landscape of equity markets, 10 July 2015. What does algorithmic trading do to market quality?, 1 September 2014. What role is played by commodity futures in India?, 10 September 2014. Concerns about individual investors on the Indian equity derivatives market, 29 July 2014. ...more

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  • Ajay Shah's blog

    Self trading is not synonymous with market abuse

    by Nidhi Aggarwal, Chirag Anand, Shefali Malhotra, Bhargavi Zaveri. 1   Introduction Orders that match with each other with no resultant change in the ownership are termed as self-trades. Lately, there have been increased concerns regarding self-trades in equity markets in India. With no genuine trading intent, these trades are seen as manipulative in nature, aimed at artificially pumping up the turnover to portray a false picture of liquidity. Self-trades are prohibited under the present law, and SEBI has punished several firms on this score. In this article, we argue that there are some kinds of self-trades which do not constitute market abuse. With no manipulative or fraudulent intent, a trading firm can hit its own bid or offer. Penalising firms in such si...more

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  • Private Sector Development - News and views on a competitive private sector and a resilient financial sector

    How to Make Zones Work Better in Africa?

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  • Ajay Shah's blog

    Indian Financial Code v1.1 is out

    When the Financial Sector Legislative Reforms Commission (FSLRC) produced the draft Indian Financial Code (IFC) in March 2013, the Ministry of Finance put it out for public review and comments. This version is informally termed IFC v1.0. Hundreds of comments were received on this first draft. Justice Srikrishna and his team worked on these comments and have come out with a revised draft Indian Financial Code. This is informally called IFC v1.1. Today, the Ministry of Finance has put this revised draft out for public review and comments. IFC v1.0 was the result of a thorough and careful process. Even though enormous time and effort was put into it, with the benefit of hindsight, it had numerous blemishes. With the benefit of hindsight, I feel that within IFC v1.0 the...more

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  • iMFdirect - The IMF Blog

    From Windfall to Windmill: Harnessing Asia’s Dynamism for Latin America

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  • iMFdirect - The IMF Blog

    The Key to Raising Business Investment: Keep Pushing the Accelerator

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  • iMFdirect - The IMF Blog

    The Global Impact of Lower Oil Prices

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  • Private Sector Development - News and views on a competitive private sector and a resilient financial sector

    From Tirole to the WBG Twin Goals: Scaling up competition policies to reduce poverty and boost shared prosperity

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  • Private Sector Development - News and views on a competitive private sector and a resilient financial sector

    'Model Law for Best Practice in Financial Consumer Protection': An important driver for Universal Financial Access

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  • The Peking Duck

    The June 4th Incident

    Allow me to emerge from my self-imposed hibernation to comment briefly, as I have done nearly every year in this blog’s 13-year history, on what happened in the streets around Tiananmen Square and in other Chinese cities on June 4th, 1989. I had just moved to Phoenix in the Spring of 1989 for a new job, and for the first time I could afford cable television. CNN’s coverage of the demonstrations in China transfixed me as I watched the entire drama unfold. I remember watching amazed as the students carried out the “Goddess of Democracy,” and as thousands of others — not only students but working people, even police officers — joined the demonstrating masses. I had no particular interest in China at the time, but was riveted to my TV set...more

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  • The Gulf blog

    Saudi Arabia and its Challenges

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  • The Gulf blog

    Breaking the Saudi Rules of Succession

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  • The Gulf blog

    Palmyra and the logic of loss

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  • The Peking Duck

    Peter Hessler’s China Daily “article”: how low can they go?

    Now this is chutzpah: China Daily asked author Peter Hessler to participate in a Q & A with his friend and translator Li Xueshun comparing aspects of Egypt and China (both countries where Hessler has worked as a New Yorker correspondent). China Daily then had the nerve to take Hessler’s replies and shape them into what looks to the reader like a bylined article by Hessler. Li’s replies were totally removed. From Hessler’s Facebook page: [I]t omitted crucial parts, including the most important point: that I believe it’s harder to make a political change in China, where the system is deeper rooted than in Egypt, and thus the flaws are also more deeply rooted. I said that this is the reason why the current anti-corruption campaign will be a failure...more

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  • The Peking Duck

    Is it a police state?

    The best post I ever wrote (and I realize that’s not saying very much) is this one. Its simple point is that underneath a veneer of happiness, prosperity and optimism there can lurk a much darker and more dangerous side. People can be content and appreciate their government while being oblivious — willfully or not — to what it is going on beneath the surface. There have been a rash of articles in recent months of a severe crackdown in China on civil rights lawyers, professors, journalists and activists. A story from yesterday drove this home: As the year came to a close, at least seven prominent Chinese human rights lawyers rang in the New Year from a jail cell. Under President Xi Jinping, 2014 was one of the worst years in recent memory for China’s ...more

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  • All Roads Lead to China

    Foxconn Moving Direct to Consumer

    I remember having conversations years ago about what Foxconn would do going forward, and whether or not they would be happy as the manufacturer to brands.   The WSJ article, Amid Margin Squeeze, Foxconn Designs Its Own Fate, puts this question to rest. Recently, the $130-billion-a-year in revenue company has ventured into handset accessories under its own brand, and sales and distribution of mobile phones. It also plans to offer telecommunications services in Taiwan. For me, this has always been a bit of a no brainer.  Foxconn has an amazing amount of talent in the firm that is not just managing the supply chain and assembling gadgets for their customer, but have for years also been bringing designs to the brands that they feel would sell well in the market. Partner ...more

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  • Frontier Nations

    ANC seen pushing market-friendly economic policy

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  • Frontier Nations

    Ethiopia builds on economic momentum

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  • Frontier Nations

    North Africa walks job creation tightrope

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  • All Roads Lead to China

    Bites of China. Finally a Show Worth Watching!

    A couple of weeks back, while riding the G train back from Nanjing, something caught my eye.  An advertisement by CCTV for what I believe could be one of the best produced shows China has put together.  At first, I had no idea what the advertisement for, but what was clear was that it was celebrating the various food flavors of China, and those who are tilling the fields and preparing the dishes. The show is called Bite of China, and I cannot recommend it enough. Sure, China is known for its fair share of food failures, including recycled oil, but watching this show has restored a bit of my love for the flavors here.  Flavors that were actually the basis for one of my earliest posts, and have provided a never ending hunt for me and my wife as we look to try new thin...more

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  • All Roads Lead to China

    What Do China’s Millennials Want ?

    For a number of years, I had it pretty good.  I had a number of teams that were under me, were stable, and were producing.  It was at a time when a lot of questions were being asked about the post 80s generation in China, but for whatever reason I was immune. But, those days are over, and just yesterday I had another millennial go AWOL on me.  So, it was perhaps interesting timing that CNBC put up the article Millennials may be more like boomers than we realize highlighting how several studies point to a generation that is looking for meaning in their job, in their company, and for balance: A new study from Deloitte also found differences in workplace attitudes between millennials and older generations, saying that the former “want to work for organizations tha...more

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  • Patrick Chovanec

    Twins!

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  • ChinaBizGov

    China's Green Car Sales in 2012

    Just a few years ago, pretty much everyone (except Chinese auto industry insiders whom I interviewed) thought China was about to take ownership of the global green car market. (Here's just one example from the excitable Tom Friedman of the New York Times.)In 2009 China's industrial planners announced plans to have 500,000 green cars ("New Energy Vehicles" or "新能源汽车" -- a combination of electrics and hybrids) on Chinese roads by the end of 2011. That obviously didn't happen, so last year, that same target of 500,000 was pushed out to 2015.So how did green car sales fare in 2012? Overall, hybrids plus electrics grew a respectable 52 percent.So while sales grew pretty well in percentage terms, it is clear that overall numbers are still inconsequential when you co...more

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  • Patrick Chovanec

    What Causes Revolutions?

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  • Patrick Chovanec

    Enter the New Year

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  • ChinaBizGov

    Comparing Corruption in China and the US

    Today's WSJ China Realtime reports on a study by a George Mason University economist who attempts to compare corruption in the US and China.  His conclusion is that corruption in America's Gilded Age (1877-1893)* was worse than corruption in China today.Perhaps the conclusion is correct, but the methodology used by this professor is flawed.  US corruption is measured by mentions of corruption in US newspapers 1870-1930.  China corruption is measured by mentions of corruption in US (not Chinese!) newspapers 1990-2011.So he is measuring corruption in two countries by the number of times the newspapers of only one of the countries mentions the word.  Even if the researcher had used Chinese newspapers, the study still would have been flawed due to Commun...more

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  • ChinaBizGov

    GM and SAIC: Trouble in Paradise?

    General Motors (GM) and Shanghai Auto (SAIC) announced in December of 2009 that they were deepening their partnership beyond their joint venture in China.  Together they created a 50:50 joint venture, registered in Hong Kong, for expansion outside of China.  Now that partnership appears to be coming apart.Initially, the plan for the HK JV was for the two sides to work together in India and possibly elsewhere in the future.  (For further insight into this particular deal, please see Chapter 4 of Designated Drivers.) As for the India venture, GM would contribute two existing factories in India, along with its Chevrolet brand, and SAIC would contribute cash -- something that GM had been seriously lacking as it had emerged from bankruptcy earlier that same ye...more

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Aaron Menenberg Policies of Scale

Aaron Menenberg is Foreign Policy and Energy analyst, and a Future Leader with Foreign Policy Initiative. He also co-hosts Podlitical Risk (@podliticalrisk). He is a graduate student in international relations at The Maxwell School of Syracuse University. Previously he has worked at Praescient Analytics, The Hudson Institute, for the Israeli Ministry of Defense, and at the IBM Corporation. The views expressed are his own, and you can follow him on Twitter @AaronMenenberg. He welcomes questions and comments at menenbergaaron@gmail.com.