Argentina, Turkey and the May Storm in Emerging Markets
Argentina and Turkey combine balance-of-payments fragility and exposure to dollar appreciation
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Climbing a tall knowledge ladder
08 May 2018 - Otaviano Canuto The April issue of the IMF’s “World Economic Outlook (WEO)” included a chapter on how globalization has helped knowledge from technology leaders spread…
Can Services Replace Manufacturing as an Engine for Development?
19 April 2018 - Otaviano Canuto Manufacturing expansion has been a vehicle for job creation, productivity increases, and growth in non-advanced economies since the second half of the last…
The Future of Manufacturing in the Global South
As a growth strategy for low-income countries, the efficacy of traditional manufacturing is waning. To compete in the technology-driven global economy of the future, developing countries will need new models to increase productivity and put people to work.
Gender Equality Is Smart Development Economics
Brazilian “conditional cash transfers” are small amounts of money distributed by the government directly to very poor households on condition that their children attend school and are vaccinated. Do…
Overlapping Globalizations
Current technological developments in manufacturing are likely to lead to a partial reversal of the wave of fragmentation and global value chains that was at the core of the rise of North-South trade from 1990 onward. At the same time, China – the main hub of the global-growth-cum-structural-change of that period – may attempt to extend the previous wave through its One Belt, One Road initiative.
ECON+ Overlapping Globalizations
It is 2018 and ECON+ is delighted to start the year off with another fantastic conversation with Otaviano Canuto, Executive Director at the World Bank, to continue this series of…
Bridging Finance and Infrastructure
The world economy – and emerging market and developing economies in particular – display a gap between infrastructure needs and its finance. On the one hand, infrastructure investment has…
Filling the infrastructure financing gap
There is a sizeable gap between the world economy’s infrastructure needs and available financing. The shortfall is especially pronounced in emerging markets. Infrastructure investment has fallen short of what is needed to support…
The Metamorphosis of Financial Globalisation
After a strong rising tide starting in the 1990s, financial globalisation seems to have reached a plateau since the global financial crisis. However, that apparent stability has taken place along a deep reshaping of cross-border financial flows, featuring de-banking and an increasing weight of non-banking financial cross-border transactions. Sources of potential instability and long-term funding challenges have morphed accordingly
Matchmaking Finance and Infrastructure
15 July 2017 - Otaviano Canuto, Aleksandra Liaplina The world economy – and emerging market and developing economies in particular – display a gap between their infrastructure needs and the…
Rose Brasil
ECON+ Natural Resources Abundance: Blessing or a Curse?
Otaviano Canuto, Executive Director at the World Bank, once again is with ECON+ to continue this series of interviews on the global economy. This time, we tackle the topic…
China’s Spill-Overs on Latin America and the Caribbean
11 August 2016 - Otaviano Canuto The Chinese economy is rebalancing while softening its growth pace. China’s spillovers on the global economy have operated through trade, commodity prices, and…
Tales of Emerging Markets
Emerging market economies (EM) as a special class of financial assets have recently been subject to two competing tales. On the one hand, there is evidence of continued financial deepening and further integration within the global financial system, while the offer of higher yields remains hard to find elsewhere. On the other hand, there are frequent bouts of fear of systemic unwinding of positions triggered by investors “exiting” EM that exhibit signs of weak or unclear macroeconomic foundations.
What Happened to World Trade?
Capital Finance International, spring 2016 World trade suffered another disappointing year in 2015, experiencing a contraction in merchandise trade volumes during the first half and only a low recovery…