In northern Nigeria, where traditional customs have long shaped societal structures, a quiet revolution is unfolding — one that is girls’ education. Traditional leaders, once seen as custodians of cultural norms, are now among the strongest advocates for change. Alhaji Ibrahim Abdulkadir, Emir of Gaya in Kano state, affirms: “I am doing my best to […]
Shipping disruptions drive higher costs, inflate prices, and challenge decarbonization goals, particularly in vulnerable economies. With Asia and the Pacific at the center of global trade, addressing these challenges requires innovative strategies from low-carbon fuels to green port infrastructure. A multidimensional crisis is brewing in the shipping industry, which carries over 80% of the world’s […]
Natural disasters not only cause damage to public infrastructure and personal property but also impact businesses by destroying warehouses, facilities, manufacturing equipment, and factories. However, evidence regarding how climate risks affect firms’ fixed asset management is lacking. This column uses unique firm-level data on extreme weather losses in 40 countries to show that firms are […]
The ocean economy – from fishing and mineral extraction to offshore energy, shipping, and coastal tourism – is expected to double in size by 2030. This column argues that continued exploitation is undermining the marine environment and the people dependent on it. Creating a greener ocean economy will require global policies that protect vulnerable coastal […]
Climate policies could affect financial stability if they lead to large changes in asset returns. This column studies the financial stability and welfare effects of such ‘climate Minsky moments’ using a novel quantitative macroeconomic model with carbon taxes and endogenous financial crises. An accelerated net zero transition aligned with the Paris Agreement temporarily increases the […]
Financial institutions are rapidly embracing AI – but at what cost to financial stability? This column argues that AI introduces novel stability risks that the financial authorities may be unprepared for, raising the spectre of faster, more vicious financial crises. The authorities need to (1) establish internal AI expertise and AI systems, (2) make AI […]
Risk-based approaches, inclusive policymaking, and strategic frameworks will allow developing countries in Asia and the Pacific to navigate the challenges of artificial intelligence while ensuring its benefits are shared equitably. Rapid advancements in artificial intelligence (AI), fueled by ever-increasing computing power and data, are transforming industries worldwide and bringing significant benefits to individuals and organizations. […]
Artificial intelligence presents both opportunities and risks for gender equality, with women facing unique vulnerabilities. Addressing these challenges requires reskilling women, strengthening social safety nets, and institutionalizing inclusive governance frameworks to ensure balanced benefits for all. Recently, the driverless taxi service Robotaxi Apollo Go expanded coverage in Wuhan in the People’s Republic of China. This […]
Economic corridor development in South Asia enhances trade, industrialization, and connectivity while addressing infrastructure gaps and business constraints. By creating jobs, promoting regional integration, and improving manufacturing competitiveness, corridors contribute to sustainable economic growth and poverty reduction. Economic corridors are drivers of economic growth and structural transformation and are integral to the pursuit of regional […]
There is a growing sense that the global economy is moving towards a more competitive era as countries are reshoring. Many are bringing their supply chains back home to reduce risks from disruptions. Others are deploying tariffs and other barriers to advance their domestic agenda. Issues around climate change and rivalry around frontier technology (artificial […]
