EconoMonitor

Economics Blog Aggregator

    Emerging Markets

  • Ajay Shah's blog

    Payment bank entry process considered inconsistent with the rule of law

    by Shubho Roy and Ajay Shah. First best Banking is the business of accepting deposits from the public with the promise of repaying such deposits on demand at an agreed rate of return. Payments is a distinct business from banking. A payment system is one which enables payment of funds to be effected between payer and a beneficiary. In the olden days, payments was primarily (though not entirely) the business of banks. In the modern world, banks should face competition from technology companies who will use modern telephony to do payments. These companies are bringing in a new business strategy of leveraging their client base and using analytical tools to provide a superior consumer experience. The first best approach is to establish a regulatory strategy for payments...more

    Link ›

  • iMFdirect - The IMF Blog

    Olivier Blanchard’s Greatest Hits

    Link ›

  • Atanu Dey On India's Development

    A Favorite Place: Yosemite

    One of my favorite places to visit is Yosemite National Park. Thankfully, since it’s just a few hours drive from home, I have been there dozens of times. Here’s a pretty picture of El Capitan. (Click the image to embiggen.) Probably the most inspiring, tempting and most recognisable of the big walls around the world, El Capitan (named from a rough Spanish translation of its Native American name To-to-kon-oo-lah), rises a massive 900m from its base. Originally thought to be unclimbable it was first scaled in 1958 by Warren Harding, Wayne Merry and George Whitmore, their ascent took them a total 47 days to complete! Harding and his gang climbed El Cap up a route called ‘The Nose’. Since their awesome first ascent hundreds of new routes have bee...more

    Link ›

  • Atanu Dey On India's Development

    Renaming Aurangzeb Road: A Proposal

    Indian politicians talk a very loudly talk about India being a democracy, meaning Indians have some say in what happens in India. But when it comes to reality, they are understandably reluctant to put their money where their mouth is. Indian democracy should not be limited to Indians merely having the vote for choosing who is going to be their mai-baap, to dictate to them. To be meaningful, democracy should be extended to the relatively unimportant matter of people deciding who are worthy of being honored by having major roads, schemes and institutions named after them. So far, most of the major roads, institutions and public schemes have been named after members of the Nehru-Gandhi clan. It’s high time to change that high-handed, dictatorial method and go with a...more

    Link ›

  • Atanu Dey On India's Development

    Naming “Dr” APJ Abdul Kalam Road: The Administrator

    The proposed renaming of “Aurangzeb Road” into “Dr APJ Abdul Kalam Road” is doubtless an improvement. It marks a welcome transition from honoring an ancient terrible tyrant to honoring a contemporaneous much-admired administrator who passed away very recently. It could be better but one should be grateful for small mercies in an otherwise merciless world. I briefly noted in my previous post (“Renaming Aurangzeb Road: The Tyrant“) the tyranny of Aurangzeb. Here I will consider why I believe that we could do better than renaming the road after Mr Kalam. I don’t harbor any illusions that my views will be taken seriously by anybody, least of all the hordes of “Dr” Kalam fans whose first knee-jerk reaction to my characte...more

    Link ›

  • iMFdirect - The IMF Blog

    Under Pressure

    Link ›

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

    Unpacking the bond surge and slump in Emerging Markets

    Link ›

  • Ajay Shah's blog

    How to think about one rank one pensions

    Renuka Sane and I have a column The way forward with one-rank-one-pension in the Indian Express today. We also presented related ideas earlier in the Mint and on CatchNews. Article from 7 July 2015, with associated computer code, which prices the three kinds of annuities at age 35 and at age 60. Article from 5 February 2015, about the three kinds of annuities, and the basic tension between high GDP growth and keeping up with the Joneses. How to strengthen the New Pension System, by Renuka Sane and Susan Thomas, 9 October 2014. ...more

    Link ›

  • iMFdirect - The IMF Blog

    Foreign Help Wanted: Easing Japan’s Labor Shortages

    Link ›

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

    Activist strategies to sharpen economies' competitive edge: When Bernanke & Company speaks, policymakers listen

    Link ›

  • Zambian Economist

    Broke Parastatals

    An interesting statement from Finance Minister Alexander Chikwanda. He says only 7 parastatals are currently declaring dividends. The rest are loss making :There are as many as forty State-owned enterprises. Of these, seven parastatal companies declared dividends..This is a small figure, meaning that the other parastatal companies are not performing to the expectation of the taxpayers who put money in these entities. We are, therefore, at liberty to show concern that so many State-owned enterprises are not declaring dividends... it would be logical to wind down the companies that are not doing well because the alternative would be to overburden the already over-extended taxpayers to find money to run the parastatal organisations. Therefore, I think that it is quite a re...more

    Link ›

  • Zambian Economist

    Austerity or Bust?

    A recent article by the Government think tank ZIPAR on Zambia's rising Eurobond debts carries the following observation :With the [current] economic malaise, it is therefore not surprising that the [recent] third Eurobond, at an annual interest rate of 9.375%, is more expensive than the 2012 and 2014 Eurobonds whose interest rates were 5.375% and 8.5%, respectively. This means Zambia will pay US$117.2 million annually in interest until 2025 on this new Eurobond alone. Between now and 2022, interest payments for the three Eurobonds will increase from US$125 million to over US$240 million annually (Source : ZIPAR)We would suggest that the situation is actually much worse than painted by ZIPAR. Government does not just need to pay back the interest, it also needs to pay ba...more

    Link ›

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

    Consultation on how to improve SMEs’ access to finance through better public credit guarantee schemes

    Link ›

  • Zambian Economist

    The Constitution of Zambia (Amendment) Bill 2015

    The Government has published the Constitution of Zambia (Amendment) Bill 2015 which will take forward the enactment of specific clauses which are not subject to the referendum. The public are asked to study and engage their parliamentarians before it makes it way into the House. You can read the accompanying Constitution of Zambia Bill, 2015 (12 pages)  via the National Assembly. Copyright © Zambian Economist 2015...more

    Link ›

  • Ajay Shah's blog

    Witch hunt against PNs considered harmful

    by Susan Thomas. A slightly different version of this appeared in the Indian Express today. The Supreme Court appointed SIT on black money has asked that the ultimate beneficiary owner of every Participatory Note (PN) be traced. This brings back an old mistrust from nearly a decade ago, which careful examination suggests is misplaced. PNs help India better integrate into the global financial system. When India fixes her financial systems to become more competitive, these very PN customers will bring their business onshore. What are PNs? PNs are one way that international investors can invest in Indian assets today. When this investor wants to invest in an Indian firm, they buy a contract from financial firms in their country. In turn, these financial firms may e...more

    Link ›

  • 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

    Link ›

  • The Gulf blog

    Saudi Arabia and its Challenges

    Link ›

  • The Gulf blog

    Breaking the Saudi Rules of Succession

    Link ›

  • The Gulf blog

    Palmyra and the logic of loss

    Link ›

  • 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

    Link ›

  • 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

    Link ›

  • 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

    Link ›

  • Frontier Nations

    ANC seen pushing market-friendly economic policy

    Link ›

  • Frontier Nations

    Ethiopia builds on economic momentum

    Link ›

  • Frontier Nations

    North Africa walks job creation tightrope

    Link ›

  • 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

    Link ›

  • 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

    Link ›

  • Patrick Chovanec

    Twins!

    Link ›

  • 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

    Link ›

  • Patrick Chovanec

    What Causes Revolutions?

    Link ›

  • Patrick Chovanec

    Enter the New Year

    Link ›

  • 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

    Link ›

  • 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

    Link ›


Most Read | Featured | Popular

Blogger Spotlight

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.