Politics-Proof Economies? E-mail
Tuesday, 18 March 2014 03:30

Michael Spence: Project SyndicateMILAN – Governments’ inability to act decisively to address their economies’ growth, employment, and distributional challenges has emerged as a major source of concern almost everywhere. In the United States, in particular, political polarization, congressional gridlock, and irresponsible grandstanding have garnered much attention, with many worried about the economic consequences.

Overshooting in Emerging Markets E-mail
Thursday, 20 February 2014 03:30

Michael Spence: Project SyndicateMILAN – Until relatively recently, countries’ so-called middle-income transitions were largely ignored – in part because what was supposed to be a transition often became a trap. A few economies in Asia – particularly Japan, South Korea, and Taiwan – sailed through to high-income status with relatively high growth rates. But the vast majority of economies slowed down or stopped growing altogether in per capita terms after entering the middle-income range.

The Real Challenges to Growth E-mail
Thursday, 23 January 2014 03:00

MILAN – Advanced economies’ experience since the 2008 financial crisis has spurred a rapidly evolving discussion of growth, employment, and income inequality. That should come as no surprise: For those who expected a relatively rapid post-crisis recovery, the more things stay the same, the more they change.

The Distributional Challenge E-mail
Thursday, 09 January 2014 03:00

MILAN – Assessing the recent past and looking forward to the near term is a natural end-of-year exercise. When it comes to the global economy in 2013 and 2014, it may well be a necessary one as well.


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