There has been an unprecedented increase in the number of sanctions imposed in world over the past 70 years, raising questions over their effectiveness. This column uses the fourth release of the Global Sanctions Database to quantify the impact of the 2022 sanctions on Russia on the country’s trade. The authors find that the sanctions […]
Despite formal restrictions, untracked oil continues to reach global markets, calling into question the true effectiveness of oil sanctions. This column presents a novel ship clustering model to detect ‘dark shipping’ – where tankers disable their location signals to evade detection – linked to sanctioned oil transport. Following Western sanctions on Russia in 2022, officially […]
Since the bursting of China’s real-estate bubble in mid-2021, there has been a growing concern that the Chinese economy could end up like that of Japan in the early 1990s. Some structural patterns are strikingly similar: low private consumption over a long period, especially when compared to the rest of the world, and an excessively […]
Ambitions by the BRICS group to take on a greater climate leadership role, building on success last month at United Nations nature talks, depend on the countries overcoming fractious politics and entrenched disagreements over money. As the United States has withdrawn from global efforts to combat climate change and, more generally, shifted its focus to promoting domestic […]
Fitch Ratings has assigned a negative outlook to Indian energy infrastructure company Adani Energy Solutions Limited, citing concerns over corporate governance and potential risks from ongoing U.S. investigations. The action comes months after U.S. authorities accused billionaire Gautam Adani and top Adani Group executives of paying $265 million in bribes for Indian power contracts and misleading U.S. […]
J.P.Morgan joined Wall-Street peer Goldman Sachs to forecast a boost to the euro area’s economic growth for 2025 on the back of Germany’s fiscal loosening reforms. Similar to Goldman, JPM expects growth to increase by 0.1 percentage point to 0.8%. For 2026, JPM expects 1.2% growth, up by 0.3 percentage points. “This revision is primarily driven […]
Investor morale in the euro zone brightened substantially in March, with economic expectations hitting their highest reading since July 2021, a survey showed on Monday, as Germany’s plans for new debt contributed to the positive sentiment. The overall Sentix index for the currency union shot up to -2.9 in March from -12.7 in February, beating […]
European Union finance ministers will discuss on Monday how to pay for defence through new joint borrowing, existing EU funds and a greater role for the European Investment Bank, with a view to decisions in June, the Polish EU presidency said. In an invitation letter to the ministers, Andrzej Domanski, the finance minister of Poland, […]
Bitcoin, the world’s largest cryptocurrency by market value, was down by around 5.47% at $81,555 at 2216 GMT on Sunday. Ether, the second largest cryptocurrency, was down 5.4% at $2,024.68 at 2222 GMT on Sunday. Source : Reuters
EU countries are increasingly turning to industrial policy to boost growth and productivity, while accelerating the green transition, in an environment of limited fiscal space. This column uses a multi-country general equilibrium model to compare the effects of unilateral industrial policies by individual countries to coordinated policies at the EU level. It argues that deeper […]
