Powerful pacifism and currency dominance: What 150 years of international monetary system regime switches say about the US dollar’s future
The 20th century shift from sterling to the dollar is often cited as evidence that currency dominance is not forever. This column presents a nonlinear
Fix education to make AI work across Europe and Central Asia
The countries of Europe and Central Asia (ECA) cannot afford to miss the opportunity that artificial intelligence (AI) offers, but they will not seize it
Why AI goes rogue and what can be done about it
There are technical, political and behavioural responses to rogue AI, but risks cannot be fully eradicated Artificial intelligence companies are increasingly reporting incidents in which
Crypto capture of foreign aid
Official development assistance fell by 23% in 2025, the largest drop on record. Aid disbursements have tended to coincide with deposits in offshore banks. This
The mortality costs of climate change
Mortality is one of the most salient consequences of climate change. Existing estimates have largely focused on the direct effects of local heat exposure. This
The cost of job loss in carbon-intensive sectors: Evidence from Germany
In a green transition, workers will have to move from polluting, carbon-intensive sectors to other sectors and firms. To shed light on adjustment costs for
Accounting for cross-country income differences: Two decades of progress
Development accounting is a simple tool with potentially powerful insights. It asks whether the measured differences in inputs between developing and developed countries can account
71% of surveyed emerging-market firms use AI. How deeply are they adopting it?
Last year, we surveyed firms in emerging markets backed by private equity (PE) and venture capital (VC) funds, which we refer to as frontier firms,
Detecting institutional change as it unfolds: Evidence from 120 years of reporting
Explaining comparative economic development requires identifying the causes of institutional change. This column uses AI to analyse 120 years of newspaper coverage and produce a
A Mediterranean Community of Human Capital
Europe’s shrinking workforce is weighing on its productivity and welfare systems. Meanwhile, its southern Mediterranean neighbours currently produce growing numbers of graduates whom domestic labour
