Has the Global Trade-Development Link Peaked?

Has the Global Trade-Development Link Peaked?

Trade has been a key driver of global growth, income convergence, and poverty reduction. Both developing countries and emerging market economies have benefited from opportunities to transfer technology from abroad and to undergo domestic structural transformation via trade integration in the last decades. Yet, more recently, concerns have been raised over whether the current pace […]

Whither Emerging Markets Foreign Exchange Reserves

Whither Emerging Markets Foreign Exchange Reserves

After a exponential rise in foreign exchange reserves accumulation by emerging markets from 2000 onwards, the tide seems to have turned south since mid-2014. Changes in capital flows and commodity prices have been major factors behind the inflection, with the new direction expected to remain, given the context of the global economy going forward. Although […]

A New Day in Colombia

A New Day in Colombia

Given Colombia’s recent economic success during years of war, what it could achieve in years of peace? Colombia’s inherited reputation for cocaine, drug-trafficking and conflict may not be entirely undeserved. But in recent years, a new reputation has emerged – one of a serious, safer country with dynamic growth opportunities. Colombia has averaged 4.6 percent […]

Trade Facilitation: Diplomacy May Be Catching Up

Trade Facilitation: Diplomacy May Be Catching Up

In September 2003, one of us was among the delegations of trade representatives from around the world that gathered in Cancun, Mexico, for one of the first Doha rounds of the World Trade Organization (WTO) negotiations. The goal was ambitious: work to reduce trade barriers, while ensuring that developing countries secure their fair share of […]

Shadow Banking in China: A Morphing Target

Shadow Banking in China: A Morphing Target

China’s shadow banking system thrived in the years after the global financial crisis, until reined in by regulators since 2013. Nevertheless, new forms of shadow banking are emerging. China’s style of shadow banking “Shadow banking” has become a buzzword ever since Paul McCulley, then with PIMCO, coined the term in 2007 to describe the financial […]

De-Risking Is De-Linking Small States from Global Finance

De-Risking Is De-Linking Small States from Global Finance

photo: Images Money Small states, like the Caribbean countries, have been negatively affected by recent “de-risking” policies implemented by international banks, with particularly damaging consequences on correspondent banking relationships. While recommendations from the Financial Action Task Force (FATF) to deal with risks of money laundering and terrorism financing have often been mentioned to justify those de-risking […]

Oil Prices and the Future of Petrocaribe

Oil Prices and the Future of Petrocaribe

On June 2005, upon the initiative of late Venezuelan President Hugo Chavez, the governments of Antigua and Barbuda, Bahamas, Belize, Cuba, Dominica, Dominican Republic, Grenada, Guyana, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname and Venezuela, agreed on the creation of Petrocaribe, a Cooperation Agreement to strengthen energy security in […]

Small Is Beautiful… but Vulnerable!

Many small states are known for their pristine natural environments and are either tourism or commodity based. However, despite numerous challenges emanating from their specific vulnerabilities and small size, the issues faced by these countries have remained somewhat veiled and unaddressed.  Many of these countries are highly exposed to the most disastrous consequences of climate […]

Not Your Granma’s Cuba: A New Day in the Caribbean

Much has changed since Fidel Castro arrived on the Granma yacht in 1956. On July 20, 2015, Cuba and the United States reopened their embassies in Washington and Havana for the first time in decades, marking a crucial step towards the normalization of relations. Yet, while much attention will be placed on these international developments, […]

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