A silver lining to the European energy crisis: Energy efficiency, productivity, and potential output
The 2022 natural gas price shock triggered the largest rise in fossil fuel prices in Europe since the 1970s. This column examines the impact on
When war weakens democracy
Wars do not end when the fighting stops. This column uses data covering 115 conflicts and 145 countries over the past 75 years to show
Trade risk and optimal trade policy: Lessons from food security
Geopolitical shocks and trade disruptions have made imports less reliable, especially for essential goods like food. This column outlines a framework where trade costs are
What to do about energy sector reforms when governance incentives are the problem?
In countries where electricity outages and “load shedding” are a regular feature of life and a major obstacle to jobs and economic growth, failure to achieve reforms has often
Sector-targeted Skills Development as Industrial Policy
Today’s blog is a background note I prepared for a forthcoming Policy Research Report on “Industrial Policy for Development” written by Ana Fernandes and Tristan
How AI and machine learning can predict and explain social risks for more effective development operations
At the time when the Government of South Africa approached the World Bank’s Disaster Risk Financing (DRF) Program about looking beyond natural disasters to social risks such as social
Middle East institutional investors to increase allocations in private markets
US asset manager Nuveen indicates investors are looking for diversification outside of developed markets. Middle East institutional investors are eyeing an uptick in private equity
Mapping the contours of Chinese policy transmission at home and abroad
China’s place within international trade networks and global supply chains makes the propagation of Chinese shocks a global phenomenon. This column discusses the channels of
From AI investment to GDP growth: An ecosystem view
Forecasts on the economic impacts of artificial intelligence diverge sharply. This column assesses how the current AI wave is contributing to US GDP, both directly
The future is under the glass
Digital design increasingly confers a competitive edge in global tech markets. This column examines how the award to Apple of damages for, among other things,
