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Finance Banking Featured News World

Stock market participation and financial education in the digital age

Stock market participation remains low, especially among the older, less affluent, and less educated households, despite its clear benefits for wealth preservation and growth. Although digitisation has reduced some barriers, many households remain disengaged. Using data from a Chinese investment platform, this column shows that digital nudges and financial education via the platform increase stock […]

Productivity Featured Innovation News World

How the US South caught up: A century of manufacturing productivity convergence

Economic historians have long debated whether lagging regions can catch up in productivity with industrial leaders. This column shows that, under the right conditions, such catch-up can be remarkably rapid. Using newly digitised US Census of Manufactures data covering 48 states and over 120 industries from 1880 to 2007, it finds strong unconditional convergence in […]

Climate Education Environment Featured World

Classroom heat widens the achievement gap

Extreme heat events are becoming more frequent and intense with climate change. Children are particularly vulnerable to such environmental stressors. This column uses nationwide exam data from Japanese primary and secondary schools to explore how heat exposure affects student learning. Heat exposure lowers student test scores, with disadvantaged students experiencing a greater reduction in scores. […]

Economy Featured News trade World

COVID-19’s economic impact on low-income countries: preparing for the next shock

COVID-19 hit low-income exporters hard, exposing risks from weak diversification and straining trade, supply systems and financial stability. The COVID-19 pandemic sent shockwaves through global supply chains as borders closed, lockdowns went into effect and demand plummeted. This shock was felt particularly by low and lower-middle income countries with economies reliant on a limited set […]

Education Featured Finance News World

Matching skills across borders: Are global skill partnerships a win-win solution for sending and receiving countries?

The world is at a demographic inflection point, presenting both challenges and opportunities. On the one hand, lower and lower-middle-income countries, particularly sub-Saharan Africa and South Asia, are experiencing expanding working-age populations. But they face a significant challenge: insufficient job creation to absorb all new labor market entrants. At the same time, many high-income and […]

Agriculture Environment Featured World

Addressing food insecurity in the Middle East and North Africa: innovations in data monitoring

Food insecurity remains a critical issue affecting millions of people across the Middle East, North Africa, Afghanistan, and Pakistan (MENAAP). The region faces a wide range of food security challenges—from acute conflict-related humanitarian crises in some areas to affordability concerns in others, and from high levels of economic prosperity to accompanying nutritional deficits. The food […]

Education Featured media World

Local problems, local solutions: The need for advanced skills and R&D in the developing world

Education is part of the enabling infrastructure required for jobs, social development, and future economic growth. Unfortunately, low- and middle-income countries face an urgent skills crisis with nearly 70% of children unable to read a simple text by age 10. In response, governments, households, and donors spend more than $5.8 trillion annually on financing education […]

Finance Banking Featured News World

The economic impact of European capital market integration

Economic growth in Europe continues to lag behind that of the US, largely due to smaller productivity gains. This column uses a general equilibrium model to show that a more integrated capital market in Europe could strengthen investment by reducing the cost of capital (price effect) and encouraging the entry of investors more inclined to […]