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.
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…
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…
Enlarge Chart 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…
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…
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…
APRIL 17, 2017ECON+ brings you an exclusive interview with Otaviano Canuto, Executive Director at the World Bank. Otaviano weighs in on the current role of the World Bank,…
This collection empirically and conceptually advances our understanding of the intricacies of emerging markets’ financial and macroeconomic development in the post-2008 crisis context. Covering a vast geography and a broad range of economic viewpoints, this study serves as an informed guide in the unchartered waters of fundamental uncertainty as it has been redefined in the post-crisis period. Contributors to the collection go beyond risks-opportunities analyses, looking deeper into the nuanced interpretations of data and economic categories as interplay of developing world characteristics in the context of redefined fundamental uncertainty. Those concerns relate to the issues of small country finance, the industrialization of the developing world, the role of commodity cycles in the global economy, sovereign debt, speculative financial flows and currency pressures, and connections between financial markets and real markets. Compact and comprehensive, this collection offers unique perspectives into contemporary issues of financial deepening and real macroeconomic development in small developing economies that rarely surface in the larger policy and development debates.
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…
Trade has been a key driver of global growth, income convergence, and poverty reduction. Both developing countries and emerging market economies have benefited from opportunities to transfer technology from…
The world economy faces huge infrastructure financing needs that are not being matched on the supply side. Emerging market economies, in particular, have had to deal with international long-term…
After experiencing an initial period of rapid growth, many developing countries have fallen into the middle-income “trap”—stuck between low-wage, low-technology markets and high-income, innovation-based developed economies. This note argues that inadequate access to finance has an adverse effect on innovation, directly, through the financing of fewer research and development (R&D) projects, and also indirectly, as fewer individuals may choose to invest in the skills necessary to work in R&D fields.
Not long ago, many economists were anticipating a switchover in the global economy's main engines, with autonomous sources of growth in developing economies compensating for the drag of struggling advanced economies. But, in the last few months, enthusiasm about these economies’ prospects has given way to bleak forecasts.
Using gross figures of exports and imports to approach the contribution of trade to economic growth and a country’s resource allocation may be misleading. Products often cross borders more…
First appeared at World Bank Growth and Crisis blog A country’s income depends on its accumulated wealth and how efficiently and innovatively this wealth is employed to produce goods and services.…