The size and volatility of capital flows to developing countries have increased significantly in recent years (Figure 1), leading many economists to argue that national policies and multilateral institutions are needed to govern these flows (Forbes and Klein 2013, Blanchard and Ostry 2012).
Do capital controls deflect capital flows?
Paolo Giordani, Michele Ruta, Hans Weisfeld, Ling Zhu, 23 June 2014
Failure and success of economic sanctions
Peter A.G. van Bergeijk, 27 March 2012
The discussion about the effectiveness of economic sanctions as an instrument of foreign policy recently revived due to the recent oil embargo of Iran and the European embargo on equipment for the Syrian oil and gas industry. The consensus view seems to be that economic sanctions – despite the long history of and experience with this instrument – are still completely ineffective.
Reforming global economic governance: A strategy for middle powers in the G20
Daniel D. Bradlow, 13 August 2010
The global financial crisis exposed the G7 as an outdated and ineffective forum for global economic governance. In order to reinforce their credentials and their capacity, the G7 turned to the G20 and upgraded it from merely a gathering of finance ministers and central bankers to one that includes heads of state.
South Africa and the Pittsburgh G20 leaders summit
Peter Draper, Cézanne Samuel, 22 September 2009
What a difference five months makes in the fortunes of our turbulent global economy. When G20 leaders met in London in April, the western financial system teetered on the brink of the abyss. Now, days before the third G20 leaders’ meeting in ten months, at Pittsburgh, the Governors of the US Federal Reserve and the Bank of England have purportedly declared the recession over.
What future for monetary policy in Zimbabwe?
Andreas Freytag, Peter Draper, 28 February 2009
Zimbabwe is much in the news again with its newly minted unity government. It remains to be seen whether it will cohere and drive a concerted reconstruction process. Zimbabwe’s future monetary policy is of enormous importance, given the country’s infamous inflation rate.
South African objectives at the G20 leaders summit
Peter Draper, 14 November 2008
To the apparent surprise of G20 finance ministers and central bank governors meeting in Washington last month, George W. Bush, the outgoing US President, proposed that a formal summit of G20 heads of state convene in Washington on November 15th.
South Africa’s current account deficit: Are proposed cures worse than the disease?
Andreas Freytag, Peter Draper, 27 September 2008
South Africa stands at the cusp of a crucial political transition, the contours of which are slowly becoming clearer. This is taking place in a domestic context of high unemployment and social agitation driven by high crime levels, whilst economic growth stalls in the midst of global recessionary conditions. Hence economic policy is again the subject of intense debate.
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
Cadot, de Melo, 16 June 2014