While tariffs dominate the news, international trade is increasingly shaped by an array of regulations known as non-tariff measures (NTMs). Unlike tariffs, which are taxes imposed on imported goods, NTMs establish criteria that goods must meet before they can enter a market. They include measures to protect consumers by ensuring that food is safe to eat, for […]
President Trump’s sweeping “reciprocal tariffs” announced on 2 April sent shockwaves through the global economy. This column introduces the European Commission’s Spring Forecast, which depicts a resilient EU economy. Yet growth is set to remain modest, reinforcing the image of a continent buffeted by external shocks and mired in low growth. Tariffs, and even more […]
Despite headlines dominated by threats and implementations of US and retaliatory tariffs since President Trump’s inauguration, it was not until his “Liberation Day” announcement on 2 April that equity prices fell significantly. This column asks why equity prices reacted so slowly to the elevated trade policy uncertainty that followed immediately after Trump’s election. Historical evidence […]
The major turbulence being experienced by the world economy could lead to a global recession and the collapse of the norms and institutions that have been critical for stability and economic development since the Second World War. In particular, the United States has adopted a level of tariff protection last seen in the 1930s and […]
Critical technologies including artificial intelligence, semiconductors and quantum computing are attracting attention because of their indispensable nature and their role in national security strategies. We compare China, the United States and the European Union in these technologies and their subfields. We use large language models (LLMs) to identify which patents in these technologies can be […]
Government procurement—the process in which public entities buy goods and services from private companies—represents between 5% and 20% of a country’s GDP, depending on the country. Public procurement policies allow governments to strategically support certain firms and sectors, for example, small businesses or eco-friendly products. In using public procurement systems, policymakers must navigate a trade-off: […]
Coffee prices remain high despite April dip. Coffee softened slightly in April after hitting record nominal highs. Arabica reached $9/kg in February-March, while Robusta approached $6/kg. In 2025Q1 (q/q), Arabica surged 26 percent (q/q)—almost doubling year-on-year—while Robusta rose 12 percent, marking a two-thirds increase over 2024 levels. Global production rose to 170 million bags in 2023-24 […]
Imagine your favorite open-air market. Stalls hustle for customers, prices fall, and shoppers win—until one fragile roof gives way and everyone scrambles. Banking is similar. Lean rivalry makes credit cheaper; cut-throat rivalry slashes margins so deeply that lenders may gamble to survive. Finding the sweet spot is not guess-work. A new World Bank working paper – Navigating […]
Foreign stock exchange listings have become increasingly popular during the last 80 years. This column examines companies that were governed and listed in London during 1869-1929 but operated in Latin America and asks how this separation affected the firm value. The findings suggest that the location of governance for the firm has a more material […]
As populations age, the demand for long-term care will increase dramatically. This column argues that markets for long-term care insurance in the US have failed to expand, despite nearly five decades of development in part because individuals too often rely on self-insurance or Medicaid – a means-tested programme that requires they spend down their assets […]
