Foreign-exchange reserves play a crucial role in macroeconomic management. They provide a safety net during times of economic turmoil and, for most developing countries, a means to peg the nominal exchange rate. They also provide a means to manage windfalls from commodity exports or from sudden surges of capital.
Why are reserves so big?
Uri Dadush, Bennett Stancil, 9 May 2011
What to do about Doha
Anne Krueger, 28 April 2011
In an ideal world, the Doha Round would have been completed by now.
Since it has not been, the best outcome now would be to have a strong agreement that could quickly be negotiated, especially enhancing the agreements on the liberalisation of services and agriculture.
Asia Pacific and the Doha Round
Muhammad Chatib Basri, 28 April 2011
Of many benefits of the Doha Round for the Asia Pacific economies, one is fostering their reform process and taking advantage of new market access.
Asia Pacific economies (many of them classified as emerging economies) have an enormous stake in the Doha Round.
Doha Round: Or else what?
Philip Levy, 28 April 2011
The state of the current round of global trade talks is indisputably dire. It is never a good sign when analysts are quibbling over whether Doha is dead or simply comatose. Despite plaintive, increasingly desperate cries from Geneva, leaders of the G20 countries have shown little inclination to follow through on their repeated commitments to conclude the talks.
Why Doha Round matters to Asia and the Pacific
Peter Drysdale, 7 May 2011
Editor's Note: This column first appeared in last week's VoxEU eBook Why World Leaders Must Resist the False Promise of a Doha Delay.
So what's the problem? Does it matter if the WTO’s Doha Round is prematurely pronounced dead?
How the iPhone widens the US trade deficit with China
Yuqing Xing, 10 April 2011
At the centre of global imbalances is the bilateral trade imbalance between China and the US. Most attention to date has been focused on macro factors and China’s exchange-rate regime.
Have Chinese innovators (and banks) finally grown-up?
Aoife Hanley, Wan-Hsin Liu, Andrea Vaona, 24 March 2011
There is a wind of change in China. Chinese policymakers have become more ambitious. They are now aspiring for innovation leadership status (OECD 2008; World Bank Report 2009). For this to happen, Chinese firms and universities are encouraged to work harder at developing their own R&D capability and to wean themselves off imported technologies.
US monetary policy and the saving glut
Heleen Mees, 24 March 2011
At the Paris G20 meeting on 18 February 2011, Federal Reserve Chairman Ben Bernanke squarely laid the blame for the financial crisis and ensuing economic crisis on global imbalances, or the so-called global saving glut (for a review of the arguments see Suominen 2010).
Are the world’s megacities too big?
Klaus Desmet, Esteban Rossi-Hansberg , 12 March 2011
The trend in urbanisation is continuing unabated across the globe. According to the UN, by 2025 close to 5 billion people will live in urbanised areas. Many cities, especially in the developing world, are set to explode in size.
Low-wage countries competition, intra-firm reallocation, and the quality content of French exports
Julien Martin, Isabelle Méjean, 11 March 2011
In February 2011, China entered the “year of the rabbit” with the new status of second-biggest economy in the world. This symbolises the prominent role in production and trade China and other low-wage countries have acquired during the last two decades. The economic consequence of this new deal is one of the most discussed phenomena in developed countries.
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