Featured Articles

THE IMF AT 75

The Future of Trade

Policy can play a role in shaping the future of the ailing multilateral trade system

BY Pinelopi Koujianou Goldberg

• A Digital Africa

  Technology can be a springboard for faster, more inclusive growth

  BY Vera Songwe

• Reimagining the IMF

  In the postcrisis world, the Fund must move beyond its role as lender of last resort

  BY Adam Tooze

  Tooze on how the financial crisis changed the world

• The Specter of Versailles

  The conference that ended World War I was followed by an inward turn that has parallels today

  By Barry Eichengreen

  Eichengreen on why economics needs history

People in Economics

Economist as Engineer

Susan Athey

A Stanford economist who brings machine learning to economics

By Bob Simison

Athey on dangers of being too data-driven

• Branko Milanovic

  A leading scholar of inequality

  By Chris Wellisz

• Claudia Goldin

  Pioneering the study of women’s role in the economy

  By Peter J. Walker

• Raj Chetty

  Reshaping the study of social mobility with big data

  By Chris Wellisz

• David Donaldson

  Making no assumptions about trade that are not based on facts

  By Bruce Edwards

• Angus Deaton

  Pioneering approaches that connect the dots between theory, measurement, policy, and people’s lives

  By Peter J. Walker

Series Archive

Point of View

OP-ED PIECES FROM LEADING THINKERS

The IMF Can (and Must) Disrupt Itself

In a rapidly changing world, the IMF needs member country support

Mohamed A. El-Erian

• Unlocking the Power of Women

  Empowering women is critical for the world’s economy and people

  Katja Iversen

• Building an
  Inclusive Economy

  Iceland’s prime minister discusses what gender means for rethinking the economy

  Katrín Jakobsdóttir

• Hardly Anyone Is Too Poor to Share

  A basic level of social protection is affordable nearly everywhere

  Michael Cichon

• Return of the Bond Vigilante

  Will markets coerce fiscal policy again?

  By Ramana Ramaswamy

In the Trenches

One-on-one with Policymakers

Open for Business

Clare Akamanzi explains how Rwanda is encouraging private sector development

By Andrew Kanyegirire

• Pursuing Stability

  Elvira Nabiullina explains how bold policy action helped Russia avert a deeper recession

  By Olga Stankova

• Breathing Space

  How IMF helped Ireland overcome its financial crisis

  By Steve Dorst

• The Poverty-Corruption Nexus

  Argentina’s battle against corruption must be waged on many fronts

  By David Pedroza

• A Market, Unified

  Arvind Subramanian explains the advantages of a new tax for India’s economy and budget

  By Chris Wellisz

Also in This Issue

China’s Ascent

The rise of China will have
far-reaching consequences—the world should get ready

By Keyu Jin

• Toward a Multipolar System

  We must prepare for a possibly turbulent transition to a new international monetary system

  By Emmanuel Farhi

• Globalization and Narcos

  Manufacturing job loss resulting from international competition can carry large social costs

  By Melissa Dell

• A Solution to Sudden Stops

  The IMF and central banks should work together to resolve financial crises

  By Ricardo Reis

• Invisible Links

  Value chains transform manufacturing—and distort the globalization debate

  By David Dollar

F&D Podcast Channel

Curbing Corruption at Heart of Development

Sawsan Gharaibeh says fighting corruption will help countries achieve sustainable development goals

Sawsan Gharaibeh

3 Chief Economists on Income Inequality

Achieving inclusive growth is one of the critical challenges of our time

Laurence Boone, Gita Gopinath, Pinelopi Koujianou Goldberg

Free Trade in Africa

The new free trade area could be an economic game changer

Geremia Palomba

Citizenship and Growth

While some citizenship laws help boost growth others can create conflict and instability

Patrick Imam

Back to Basics

Current Economic Issues Explained

What Is Carbon Taxation?

Carbon taxes have a central role in reducing greenhouse gases

By Ian Parry

How Fiscal Policies Can Help Save the Planet

• Does a Minimum Wage Help Workers?

  An overly generous wage may prompt employers to cut jobs

  By Piyaporn Sodsriwiboon and Gabriel Srour

  Minimum wage

• What Is Universal Basic Income?

  Proponents hail simplicity and equity; skeptics worry about fiscal cost and incentives

  By Maura Francese and Delphine Prady

• What Are Subsidies?

  Some government subsidies make sense, but often there are downsides

  By Benedict J. Clements and Ian Parry

• What Are Cryptocurrencies?

  A potential new form of money offers benefits while posing risks

  By Antoine Bouveret and Vikram Haksar

Series Archive

Book Reviews

EXPERTS REVIEW THE LATEST BOOKS

The Bretton Woods Agreements

By Naomi Lamoreaux and Ian Shapiro, eds.

Reviewed by LORD SKIDELSKY

• The Central Asian Economies in the Twenty-First Century: Paving a New Silk Road

  By Richard Pomfret

  Reviewed by MAMUKA TSERETELI

• Dark Matter Credit: The Development of Peer-to-Peer Lending and Banking in France

  By Philip T. Hoffman, Gilles Postel-Vinay, and Jean-Laurent Rosenthal

  Reviewed by ALEXANDRE CHAILLOUX

• Macroeconomics for Professionals: A Guide for Analysts and Those Who Need to Understand Them

  By Leslie Lipschitz and Susan Schadler

  Reviewed by PETER HELLER

Straight Talk

IMF LEADERSHIP ON KEY GLOBAL ISSUES

Updating Bretton Woods

Renewed commitment to global economic cooperation is needed

Christine Lagarde

• Cleaning Up

  

  Countries are advancing efforts to stop criminals from laundering their trillions

  Rhoda Weeks-Brown

• A Regulatory Approach to Fintech

  

  We must guard against emerging risks without stifling innovation

  Christine Lagarde, IMF Managing Director

• Toward Inclusive Growth

  

  Emerging markets should share the fruits of their growth more equitably

  Tao Zhang, IMF Deputy Managing Director

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