EconoMonitor

Economics Blog Aggregator

    Emerging Markets

  • iMFdirect - The IMF Blog

    What Advanced Economies Can Do to Rise Above the “New Mediocre”

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  • Ajay Shah's blog

    Opportunities in analytical and policy-oriented economics

    Analytical research At the Macro/Finance Group in NIPFP, we have an active research program with a flow of papers, conferences, etc. There are exciting opportunities here for people with a Ph.D. (economics, finance, statistics) or Masters (economics, finance or statistics). The key skills are macroeconomics and finance, modern quasi-experimental and time-series econometrics, working with large datasets and complex empirical research. We are at the frontiers of computation, and write and release R packages. The persons who fit these roles are those who want to get absorbed in doing research about how the world works, or learn how to do such research. Public policy `think tank' In our `think tank' role, we analyse the problems of existing policy frameworks and propo...more

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  • Zambian Economist

    On the Kindle

    I recently stumbled on this book Economics for the Curious: Inside the mind of 12 Nobel laureates. As it says on the strap line, it is basically a collection of short articles from 12 Nobel laureates in economics edited by the Nobel laureate Robert Solow. There are some good essays in there (e.g. Krugman on "depression economics"), but also some difficult ones follow (e.g. Nash on game theory). My favorite one was from Finn E Kydland on policy commitment. Here is a great quote on Ireland that sums up the importance of credible policy commitment :An opposite example is Ireland over that same time period, from 1990 until the early 2000s. Starting in the 1960s and 1970s, Ireland had made secondary education free of charge. As a consequence, by 1990 the nation found itself...more

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  • iMFdirect - The IMF Blog

    Fiscal Policy And Structural Reform

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  • Zambian Economist

    A spectular reversal on mining taxation?

    President Lungu has signalled the possibility of a spectacular policy climbed down over the mining fiscal regime. He has proposed potential options for changing the 2015 mining tax regime. Among the options include abandoning the Sata mining fiscal regime altogether. Full statement from State House below :His Excellency Mr. Edgar Chagwa Lungu, President of the Republic of Zambia has directed the Minister of Finance and Minister of Mines and Minerals Development to effect changes to the 2015 Mineral Royalty Tax by 8 th April 2015.In letters to the two ministers today, President Lungu stated that after receiving submissions from individual mining companies and the Chamber of Mines, he has noted that the new tax regime poses a challenge to some mining houses. The President...more

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  • iMFdirect - The IMF Blog

    The Elusive Quest for International Policy Cooperation

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  • Ajay Shah's blog

    The issue of authenticity in Indian economics

    Aatish Taseer wrote in the New York Times: In my own world — the world of English writing and publishing in India — the language has wrought neuroses of its own. India, over the past three decades, has produced many excellent writers in English, such as Salman Rushdie, Vikram Seth, Amitav Ghosh and Arundhati Roy. The problem is that none of these writers can credit India alone for their success; they all came to India via the West, via its publishing deals and prizes. ... This meant that it was not really possible for writers like myself to pursue a serious career in an Indian language. We were forced instead to make a roundabout journey back to India. We could write about our country, but we always had to keep an eye out for what worked in the West. It is a sh...more

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

    Newest private participation in infrastructure update shows growth and challenges

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  • Ajay Shah's blog

    Improving warehousing in India through a grading mechanism

    by Smriti Sharma. A key sub-industry in modern agriculture is warehousing. Storage reduces price fluctuations. Trusted storage permits `dematerialisation', where warehouse receipts are traded or delivered, and is the key link between physical goods and finance. At present, the quantity and quality of warehouses in India are inadequate. This is a key bridge that has to be crossed for the modernisation of agriculture. Trusted mechanisms for warehousing of non-agricultural goods are also an important enabler of the market economy. Warehouses claim to take in goods and keep them safe. The customer of a warehouse does not know the probability with which the promise will be violated. There are a diverse array of warehouses in India, but customers do not know the failure r...more

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  • Atanu Dey On India's Development

    Goodbye, Mr Lee Kuan Yew

    Goodbye, Mr Lee Kuan Yew. I mourn your passing. Never had tears at the death of any leader. You're the 1st & probably the last. — Atanu Dey (@atanudey) March 23, 2015 ...more

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  • Zambian Economist

    Kwacha Contradictions

    The Kwacha's crisis shows no signs of ending soon. It is closed on Friday at  K7.7 per $1 (K8.2 per €1 and K11.4 against £1). The current historic collapse is against all major currencies. The two men tasked with stabilising it have been talking. So far we are only getting a tale of contradictions between Alexander Chikwanda [Finance Minister] and Denny Kalyalya [BOZ Governor] over the domestic causes of the current Kwacha crisis.Alexander Chikwanda's statement to Parliament:On the domestic front, the major reason for the weakening of the Kwacha is the palpable demand/supply disequilibrium. In other words, the demand for dollars principally and other currencies exceeds supply. At the beginning of the year, the foreign exchange earnings inflows are slow because o...more

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

    Piggybanks for plunder: Corrupt cash flows to Global Cities, requiring transparency and complete disclosure of assets

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  • The Gulf blog

    The emerging military dimension to the Qatari-Turkish relationship

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

    Disaster risk and climate threats: Taking action to create better financial solutions

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  • Atanu Dey On India's Development

    Friday the 13th, Pi Day the 14th & Beware the Ides of March

    But first, if you are superstitious then be wary since it is Friday the 13th. If you know anything about numbers, and you live in the US, then you can be irrational on Saturday which is Pi Day. This pi day stuff works only in the US convention of writing mm/dd/yy for dates. But whatever you do, beware the Ides of March. ...more

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  • The Gulf blog

    Saudi-Pakistan relations

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  • Atanu Dey On India's Development

    Public Choice Society Conference at San Antonio TX Mar 12-15

    Well, I am off to a conference. Public Choice Society Conference in San Antonio TX.

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  • The Gulf blog

    Jabhat al-Nusra rejects overtures to abandon al-Qaeda

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  • Michael Pettis' CHINA FINANCIAL MARKETS

    When do we decide that Europe must restructure much of its debt?

    It is hard to watch the Greek drama unfold without a sense of foreboding. If it is possible for the Greek economy partially to revive in spite of its tremendous debt burden, with a lot of hard work and even more good luck we can posit scenarios that don’t involve a painful social and political breakdown, but I am pretty convinced that the Greek balance sheet itself makes growth all but impossible for many more years. The history is, to me pretty convincing. Countries with this level of debt and this level of uncertainty associated with the resolution of the debt are never able too grow out of their debt burdens, no matter how determined and how forcefully they implement the “correct” set of orthodox reforms, until the debt is resolved and the costs assigned. Greec...more

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  • Michael Pettis' CHINA FINANCIAL MARKETS

    Syriza and the French indemnity of 1871-73

    European nationalists have successfully convinced us, against all logic, that the European crisis is a conflict among nations, and not among economic sectors. Today’s Financial Times has an article discussing the travails of Greece’s new Finance Minister, Yanis Varoufakis as he takes on Germany: In a small but telling sign of the frosty relations between Berlin and the new Greek government, the German finance ministry last week criticised Mr Varoufakis for failing to follow through with a customary courtesy call following his appointment. Mr Schäuble, meanwhile, has warned Greece not to attempt to “blackmail” Berlin with demands for debt relief. This is absurd. The European debt crisis is not a conflict among nations. All economic systems— and certainly an e...more

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  • Michael Pettis' CHINA FINANCIAL MARKETS

    Can monetary policy turn Argentina into Japan?

    Monetary policy is as much about politics as it is economics. It affects the ways in which wealth is created, allocated, and retained and it determines the balance of power between providers of capital and users of capital. In January one of my readers kindly passed on to me a link to an interesting report published two years ago by Bain and Company called “A World awash in Money: Capital trends through 2020”. According to the authors: Our analysis leads us to conclude that for the balance of the decade, markets will generally continue to grapple with an environment of capital superabundance. Even with moderating financial growth in developed markets, the fundamental forces that inflated the global balance sheet since the 1980s—financial innovation, high-speed co...more

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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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  • The Peking Duck

    Shaun Rein wants your help marketing The End of Copycat China

    The End of Copycat China is the name of Shaun Rein’s new book that will be available come October 20. I am flattered that Shaun has included me on the mailing list he uses to blast information to his friends and colleagues, and I wanted to draw attention to how he wants his fans to do the marketing for his new book for him. Over the last three months Shaun has sent out two lengthy email blasts and I find their content to be intriguing, and to confirm some of my own thoughts about Mr. Rein. Perhaps most revealing was this paragraph: If you or a friend are looking for a keynote speaker, consider me. If organizations buy 1000 copies of my book to give to attendees between October and December, I will waive my standard speaking rates at my speaker’s bureau (my...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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Richard Wood Richard Wood

Richard has published papers on wages policy, the taxation of financial arrangements and macroeconomic issues in Pacific island countries. Views expressed in these articles are his own and may not be shared by his employing agency. He is the author of How to Solve the European Economic Crisis: Challenging orthodoxy and creating new policy paradigms