Latest Issue

IN PARTNERSHIP WITH COP26

The Climate Issue

This special issue of F&D on climate, in partnership with COP26, brings together a diverse range of voices from academics, policymakers, the private sector, and youth activists.

By Gita Bhatt

• Driving Deep Decarbonization

  As green energy costs drop, we should shift the emphasis from economy-wide carbon pricing to sectoral policies

  By James H. Stock

• Economics Nature’s Way

  Good economics demands that we manage Nature better

  By Partha Dasgupta

• Fighting Climate Change with Innovation

  Innovation has brought us to an inflection point; the coming decade will be decisive

  By Kelly Levin and Andrew Steer

• Climate Cooperation

  Working with its members, the IMF is managing the risks and opportunities of climate change

  By Eddie Buckley

• Chimpanzee Politics and Climate Change

  The animal kingdom can teach us important lessons about ourselves and increase cooperation to fight climate change

  By Ruchir Agarwal

People in Economics

Climate Economist

Solomon Hsiang

Berkeley’s professor focuses on climate change

By BOB SIMISON

• Rohini Pande

  Yale’s professor focuses on how better institutions can make life fairer

  By Peter J. Walker

• Assaf Razin

  Tel Aviv University’s early scholar of the promise and perils of globalization

  By Prakash Loungani

• Lisa D. Cook

  The Michigan State professor shows how racism and sexism hurt us all

  By Hyun-Sung Khang

• Mariana Mazzucato

  Tireless proponent of government-led innovation

  By Bob Simison

• Esther Duflo and Abhijit Banerjee

  Nobel Prize Winners Duflo and Banerjee are reinventing economics

  By Andreas Adriano

• Olivia S. Mitchell

  Wharton’s retirement behaviorist, who is a founder of modern pension research

  By Peter J. Walker

Series Archive

Point of View

OP-ED PIECES FROM LEADING THINKERS

Clean and Green Finance

A new sustainable financial system can secure a net zero future for the world

By Mark Carney

• Investing in a Sustainable Future

  Private sector financing can play a pivotal role in amplifying the effects of government climate policies

  By Valerie Smith

• What We Owe Each Other

  We need a new social contract fit for the 21st century

  By Minouche Shafik

• Africa Goes Digital

  In rebuilding after COVID-19, policymakers must invest in innovative technology to leapfrog obstacles to inclusive development

  By Cristina Duarte

• Distribution Matters

  Economics can’t avoid distributional issues—it must make room for insights from other disciplines

  BY BINYAMIN APPELBAUM

• Conquering the Great Divide

  The pandemic has laid bare deep divisions, but it’s not too late to change course

  By Joseph Stiglitz

In the Trenches

One-on-one with Policymakers

No Higher Ground

For Maldives Environment Minister Aminath Shauna, fighting climate change is an existential battle

By Adam Behsudi

• Putting People First

  South Africa’s longest-serving finance minister, Trevor Manuel, reflects on the country’s lost decade

  By Analisa R. Bala

• Radical Inclusion

  Sierra Leone’s David Sengeh is taking an inclusive approach to digitalizing the country’s education system and economy

  By Adam Behsudi

• Cracking Down
  on Corruption

  The EU’s first anti-fraud prosecutor reflects on the challenges of tackling transnational crime

  By Rahim Kanani

• Staying the Course

  Jamaica’s former central bank governor Brian Wynter explains the challenges of modernizing monetary policy

  By Olga Stankova

• The Medellín Miracle

  Prioritizing security and sustainability paved the way for a 21st century city

  By Marjorie Henríquez

Currency Notes

Cleaning Up Crypto

Bitcoin’s carbon footprint is again making headlines

By Analisa R. Bala

Picture This

Net Zero by 2050

The IEA outlines a path to decarbonize the energy sector in three decades

BY Andrew Stanley

• Jobs Dilemma

  Creating sufficient employment in emerging market economies will require a big boost to economic growth

  BY Sergei Lanau

• Uncertain Age

  The pandemic is taking a toll on young people

  BY Melinda Weir

• Food Insecure

  The viral pandemic is bringing a new global hunger crisis

  BY Adam Behsudi

• Trust Imperative

  Trust is at rock bottom, and we must urgently restore it

  BY Richard Edelman

Online Exclusives

The Golden Opportunity

Humanity cannot pass up the golden opportunity of a green, inclusive, and resilient recovery

BY Alok Sharma

• Advancing Gender Equality through Climate Action

  Women and girls are more vulnerable to the effects of climate change and pay a higher price

  BY Anne-Marie Trevelyan

• Linking Climate and Inequality

  Policies aimed at slowing warming could be better designed to reduce inequality

  BY Céline Guivarch, Aurélie Méjean, and Nicolas Taconet

• The Economics of Social Unrest

  A deeper look at the causes and consequences of social unrest

  BY Philip Barrett and Sophia Chen

• The (Digital) India Stack

  Revolutionizing access to finance in India

  BY Yan Carrière-Swallow, Vikram Haksar, and Manasa Patnam

• Rescuing the Olympics

  It is time to consider reforms to the way the Games are pursued, prepared for, and hosted

  BY Victor Matheson and Rob Baade

Also in This Issue

Building Back Better

Finland and Dominica pursue innovative ways of coping with climate change

By Steven Dorst

• Walking the Talk

  Climate activists share candid advice for top COP officials

  BY Vanessa Nakate, Vladislav Kaim, and Ernest Gibson

• Asia’s Climate Emergency

  Fiscal policy can help address climate change in Asia, the region hit hardest by global warming

  By Era Dabla-Norris, James Daniel, and Masahiro Nozaki

• Climate Change and Monetary Policy

  Central banks must do their part in fighting global warming

  By Isabel Schnabel

• A Path to Zero

  Reaching net zero emissions is achievable with comprehensive policy action

  By Christoph Bertram, Ottmar Edenhofer, and Gunnar Luderer

• Powering Growth

  African countries are embracing renewables to accelerate energy access

  By Benson Ireri and Rebekah Shirley

F&D Podcast Channel

Making it Cheaper to be Green

Most economists would agree a carbon tax is a powerful tool in fighting climate change, but carbon pricing alone is not enough.

James Stock

Women in Economics: Lisa D. Cook

This is the first in a series of IMF podcasts that will showcase extraordinary work by extraordinary women in economics.

Rhoda Metcalfe

The Economics of Biodiversity

Nature is often missing in economic models, but in a study commissioned by the UK government, Partha Dasgupta examines the economic benefits of biodiversity and the costs of losing it.

Partha Dasgupta

Fighting Climate Change with Innovation

There's been a shift in the economic understanding of climate change of late.

Andrew Steer

Chimpanzee Politics and Climate Change

When it comes to cooperation, humans and chimpanzees still have much in common.

Ruchir Agarwal

The Economics of Climate Change

As climate change looms ever larger, most economists agree that a carbon tax would go a long way toward reducing emissions.

Divya Kirti

Back to Basics

What Is Mitigation vs Adaptation?

What Is Mitigation vs Adaptation?

The world faces a two-front battle to halt global warming and address the effects of climate change

By Adam Behsudi

• Risk and Return: The Search for Yield

  Low rates of return tempt investors to take risks, which can cause economic and financial instability

  By Jay Surti

• What Is the Informal Economy?

  Having fewer workers outside the formal economy can support sustainable development

  By Corinne Deléchat and Leandro Medina

• What Is Debt Sustainability?

  Many factors go into assessing how much debt a developing economy can safely carry

  By Dalia Hakura

• How Can Interest Rates Be Negative?

  Countries are starting to experiment with negative interest rates

  By Vikram Haksar and Emanuel Kopp

• What Is Stress Testing?

  Checking the health of banks is crucial to financial stability

  By Martin Čihák, Hiroko Oura, and Liliana Schumacher

Series Archive

Book Reviews

EXPERTS REVIEW THE LATEST BOOKS

Course Correction

By Diane Coyle

Reviewed by MARTIN SCHINDLER

• Behind Closed Doors

  By Jeffrey E. Garten

  Reviewed by ATISH REX GHOSH

• Monetary Policy in Times of Crisis

  By Massimo Rostagno and others

  Reviewed by MAHMOOD PRADHAN

• The Spirit of Green: The Economics of Collisions and Contagions in a Crowded World

  By William D. Nordhaus

  Reviewed by DIMITRI ZENGHELIS

• Rebellion, Rascals, and Revenue: Tax Follies and Wisdom through the Ages

  By Michael Keen and Joel Slemrod

  Reviewed by RICHARD BIRD

Straight Talk

IMF LEADERSHIP ON KEY GLOBAL ISSUES

Averting a Great Divergence

Exiting the pandemic with minimal scarring will require policy action on several fronts

BY Gita Gopinath

• No Going Back

  

  Investing in policies for people will help shape a better economy for the postcrisis world

  BY Kristalina Georgieva

• Knightmare Uncertainty

  

  In the COVID-19 world, risk has become riskier

  BY Geoffrey Okamoto

• Beyond the Crisis

  

  Now is the time to take advantage of this opportunity to build a better world

  Kristalina Georgieva

• The Adaptive Age

  

  No institution or individual can stand on the sidelines in the fight against climate change

  Kristalina Georgieva

F&D Video Channel

About Us

• About F&D Magazine
• How to Contribute to F&D
• Contact Us

SUBSCRIBE TO F&D UPDATES

• F&D on Facebook
• F&D on LinkedIn

F&D Masthead

• Gita Bhatt, Editor-In-Chief
• Maureen Burke, Managing Editor
• Rahim B. Kanani, Digital Editor
• Analisa R. Bala, Senior Editor

• Peter J. Walker, Senior Editor
• Adam Behsudi, Senior Editor
• Lijun Li, Online Editor
• Melinda Weir, Production Manager