Finance & Development

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Protectionism | June 2023
Growing Threats to Global Trade

Protectionism could make the world less resilient, more unequal, and more conflict-prone

PINELOPI K. GOLDBERG

TRISTAN REED

Global Trade
It's time to reenvision the global trade framework for a sustainable future

International trade | June 2023

A Way Forward for Global Trade

It's time to reenvision the global trade framework for a sustainable future

MICHAEL FROMAN

Developing economies will need help navigating the growing number of sanctions and export controls

International trade | June 2023

The Challenge of Export Controls

Developing economies will need help navigating the growing number of sanctions and export controls

Chad P. Bown

Trade policy | June 2023

Green Trade Tensions

Green industrial policy will drive decarbonization, but at what cost to trade?

NOAH KAUFMAN

SAGATOM SAHA

CHRISTOPHER BATAILLE

Trade policy | June 2023

Superpowers Are Forsaking Free Trade

Free trade is taking a back seat to powerful nations’ politics, hurting developing economies

NGAIRE WOODS

finance and development

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Editor's Letter

Trade policy | June 2023

Trade in Turmoil

Despite geopolitical tensions, meaningful cooperation on trade remains possible.

GITA BHATT

ART by PETE REYNOLDS

Monetary policy | March 2023

New Worries for Central Bankers

“The job of the central bank is to worry.” That’s how Alice Rivlin described the work of monetary policymakers

GITA BHATT

Energy Security

Energy transition | December 2022

Energy Security and the Path to Green

How do nations manage the gap between near-term energy needs and the urgent, but longer-term green goals?

GITA BHATT

Fintech | September 2022

Money, Reimagined

Letter from the Editor: The recent plunge in crypto assets has left investors numbed by losses and surely in doubt. But the future of money is undoubtedly digital

GITA BHATT

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Geoeconomic FragmentatioN
International trade | June 2023
Pillar of Economic Security

Today’s supply chain disruptions reaffirm the importance of a multilateral trading system based on WTO rules

RALPH OSSA

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Gender | June 2023
Trade Drives Gender Equality and Development

International trade can benefit women, especially in developing economies, but the rewards depend on determined policy action

NADIA ROCHA

ROBERTA PIERMARTINI

PEOPLE IN ECONOMICS
IMF/Joshua Roberts

Trade policy | June 2023

Anne O. Krueger: World Trade Defender

Bob Simison profiles Anne O. Krueger, whose research helped build the global trading system that’s now under attack

BOB SIMISON

IMF/ Adobe Stock

Monetary policy | March 2023

Lars Svensson: Central Banking Revolutionary

Prakash Loungani profiles former Swedish central banker Lars E.O. Svensson, a leader of the inflation-targeting revolution

PRAKASH LOUNGANI

Questioning assumptions - Emi Nakamura

Economic theory | December 2022

Emi Nakamura: Questioning Assumptions

Peter J. Walker profiles Berkeley’s Emi Nakamura, who delves into details to answer big questions

PETER J. WALKER

Fiscal policy | September 2022

Stefanie Stantcheva: Getting Into People's Heads

Marjorie Henriquez profiles Harvard’s Stefanie Stantcheva, who uses surveys and experiments to uncover the invisible in traditional economic data

Marjorie Henríquez

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In the Trenches

Trade policy | June 2023

Policymaker and Negotiator

Former Korean trade chief Yoo Myung-hee talks about her country’s rise and risk amid economic fragmentation

Jeff Kearns

Alex Kolomoisky

Central banks | March 2023

Embrace Debate

Karnit Flug stresses the importance of accountability and transparency in central banking

Nicholas Owen

Pipeline diplomacy

Commodities | December 2022

Pipeline Diplomacy

Piotr Naimski explains Poland’s decision to pursue energy independence

CHRIS WELLISZ

Courtesy of Togo’s Ministry of Digital Economy and Transformation

Digitalization | March 2022

Technology-Driven Development

Togo’s Cina Lawson views digitalization as key to her country’s growth and development

ADAM BEHSUDI

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PICTURE THIS

Globalization | June 2023

Globalization’s Peak

Trade plateaus and restrictions rise, marking a new era for globalization

ANDREW STANLEY

IMF/ Adobe Stock

Monetary policy | March 2023

Forces At Play

Advanced economies are contending with several major long-term structural changes that will affect the way monetary policy is conducted.

Energy Transition

Energy transition | December 2022

Energy Transitions

We need much more than just solar and wind to achieve a clean energy transition

ANDREW STANLEY

The Ascent of CBDC

Virtual currencies | September 2022

The Ascent of CBDCs

More than half of the world’s central banks are exploring or developing digital currencies

ANDREW STANLEY

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Back to Basics
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Analytical Series

Economic growth | Analytical Series

Industrial Policy and the Growth Strategy Trilemma

Is it time to strike a new balance between state intervention and market forces?

RUCHIR AGARWAL

Globalization | Analytical Series

Globalization and Resilience

Economists miscalculated the disruptions of the global financial crisis and the pandemic—and need to build better models

Prachi Mishra

ANTONIO SPILIMBERGO

Public debt | Analytical Series

Debt and Fiscal Commitment

Credibility is essential for sound fiscal policies

FRANCISCO ROCH

Financial crises | Analytical Series

From the Asian Financial Crisis to Today

Hoe Ee Khor reflects on the Asian crisis 25 years on and the region’s current challenges

CHRIS WELLISZ

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CAFÉ Economics
Migration

Migration | June 2023

Partnerships for Refugees

UNHCR’s Filippo Grandi argues that long-term solutions for refugees go beyond humanitarian aid

BRUCE EDWARDS

Financial crises | Analytical Series

Early Lessons from the Recent Banking Turmoil

Lucrezia Reichlin argues that protecting taxpayers’ money remains the ultimate goal when dealing with banking crises.

Marjorie Henríquez

IMF / Adobe Stock/ ECB

Inflation | March 2023

On Inflation’s Front Line

ECB’s Philip R. Lane discusses the importance of bringing euro area inflation back to target

Nicholas Owen

Globalization | Online Exclusive

A New Political Order Emerges

US historian Gary Gerstle explains how globalization helped entrench neoliberalism while also bringing about its demise

Sunil Sharma

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Book Reviews

Monetary policy | June 2023

Strategies for Small States

This book makes a valuable contribution to the analysis of the economic problems facing small developing states, particularly in the Caribbean.

BERT VAN SELM

Inflation | June 2023

Unwelcome Return

Alas, the 1970s seem freshly relevant. Energy supplies are once more in doubt. The international order is yet again straining at the seams. Even the music is making a comeback.

MAX HARRIS

Fintech | June 2023

The Next Big Thing

Despite its forward-looking title, The Metaverse: And How It Will Revolutionize Everything is as much about the past as it is about the future.

POOJA SINGH

Monetary policy | March 2023

Lessons from History

A Monetary and Fiscal History of the United States, 1961–2021

PETER CONTI-BROWN

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Currency Notes

Money | June 2023

Face Value

Many Commonwealth countries are reconsidering whom to feature on their banknotes

SMITA AGGARWAL

Love cricket

Currencies | December 2022

For the Love of Cricket

Barbados’ $5 banknote pays tribute to the man who united West Indian cricket

ANALISA R. BALA

Using older mobile phones to settle transactions offline

Digital currencies | September 2022

Taking Digital Currencies Offline

In many regions, internet-free access may be a make-or-break feature for central bank digital currencies.

John Kiff

Currency Notes Empowering Creators NFTs have opened up a potentially lucrative new world for artists in developing economies Analisa R. Bala

Technology | June 2022

Empowering Creators

NFTs have opened up a potentially lucrative new world for artists in developing economies

ANALISA R. BALA

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Podcasts

Trade policy

Michele Ruta on Discriminatory Regionalism

As rising geopolitical tensions chip away at globalization, will a more fragmented world mean stronger regional pacts? Economist Michele Ruta says the trend toward strengthening ties with friends and loosening them with non-friends is making regional trade less about integration and more about discrimination.

Ruchir Agarwal on the Return of Industrial Policy

Industrial policy refers to a set of policies that governments use to bolster national industries or companies deemed strategically important for economic competitiveness, social outcomes, or national security. In this podcast, Agarwal says while the practice of choosing national champions fell out of favor in the 1980s, rising geopolitical tensions of late have sparked a renewed interest in industrial policy, which is often a guise for protectionism.  

Nadia Fettah and Jihad Azour: Morocco Gives Voice to the Global South

Like so many countries across the Middle East and North Africa, Morocco faced successive shocks over the past three years including a devastating drought. But the country managed well thanks to an aggressive reform agenda. 

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Latest Issues
June 2023
New Directions for Monetary Policy
March 2023
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Energy Security -
December 2022
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Reimagining Money in the Age of Crypto and Central Bank Digital Currency
September 2022
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