Toward Nigeria’s Takeoff

Toward Nigeria’s Takeoff

After decolonization, Nigeria was expected to industrialize fast in order to benefit from rapid growth and increasing prosperity. Yet, that “growth miracle” has still not materialized. Perhaps it is time to learn from the right lessons. “We have crude oil, but you cannot go to filling station and get fuel refined in Nigeria, except we […]

Nigeria, IMF and the Least Bad Policies

Nigeria, IMF and the Least Bad Policies

photo: Nicolas Raymond As Nigeria’s economic challenges are rising, the IMF has been increasingly vocal. What is really needed are policies that are in the interest of most Nigerians. According to the International Monetary Fund (IMF), Nigeria’s external challenges are substantial and deteriorating. Due to the reliance on oil revenues, the general government deficit doubled […]

The IMF and the Next Crisis

The IMF and the Next Crisis

photo: World Bank Photo Collection The IMF has issued a warning that “increasing financial market turbulence and falling asset prices” are weakening the global economy, which already faces headwinds due to the “…modest recovery in advanced economies, China’s rebalancing, the weaker-than-expected growth impact from lower oil prices, and generally diminished growth prospects in emerging and low-income […]

Capital Flows and Deleveraging in Emerging Markets

Capital Flows and Deleveraging in Emerging Markets

Capital outflows from emerging market economies have substantially accelerated since last year. The cycle of intense debt leveraging that took place in those economies after the 2008 global financial crisis has also started to reverse. Furthermore, 2015 was also a fifth consecutive year of growth deceleration in emerging markets. Some analysts have taken those features […]

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 […]

Making Financial Inclusion a Reality for the Unbanked

Making Financial Inclusion a Reality for the Unbanked

photo: Department of Foreign Affairs and Trade Financial inclusion and the fight against poverty  Ravallion (2015) illustrates how mainstream thinking on poverty has changed over the last 200 years: from considering poverty as inevitable or even necessary for economic advancement, to viewing it as a social ill that can be avoided through public action. In fact, […]

Green Microfinance: A Tool for Sustainable Business and Climate Action

Green Microfinance: A Tool for Sustainable Business and Climate Action

Silvia Fernández, a young widow, was not interested at first in a new energy-efficient refrigerator for her business, a bodega on a busy street of a poor neighborhood in Guadalajara, Mexico. She didn’t know what energy efficiency meant, but when she was told it would lower her electricity bill, she changed her mind. She worked […]

New Funding Source for Social Innovation: The ‘Crowd’

New Funding Source for Social Innovation: The ‘Crowd’

In the journey from a revolutionary idea, to a start-up business, to an expanding business, it’s difficult for entrepreneurs and small and medium-sized enterprises to access the finance they need through the traditional channels of private capital markets. A new way to address this gap is crowdfunding—an innovative tool that enables entrepreneurs or enterprises in […]

Lessons of E-Commerce Explosion in China

Lessons of E-Commerce Explosion in China

The second World Internet Conference (WIC), also known as the Wuzhen Summit, will take place Dec 16 -18, in Wuzhen, Zhejiang. Chinese President Xi Jinping will attend the conference and address the opening ceremony. It takes place amid dramatic expansion of Chinese e-commerce, thanks to great market potential and government’s supportive policies. In early spring, […]