Spending smarter: A powerful growth strategy
With high public debt and weak medium-term growth, finance ministries seek to do more with less. This column argues that efficiency gaps in public spending
The lasting economic scars of war
Wars leave deep and lasting scars on economies. Using data for 115 conflicts across 145 countries over the past 75 years, this column documents large
A Global Force for Good: Gulf Cooperation Council’s leadership in development finance
The global community stands at a crossroads. Facing climate change, conflict, and economic instability, the world needs effective development cooperation more than ever. In this
The impact of interest: How loan rates shape firm investment
Monetary policy moves aggregate investment, but the underlying drivers remain unclear. This column opens the black box with a German firm survey. A one percentage
Dollar slips as traders focus on Fed cut bets, risk sentiment improves
Markets pricing in Fed rate cuts for both October and December. The U.S. dollar slipped against a basket of peers on Wednesday after comments from
JPMorgan to invest up to $10 billion in US national security as part of $1.5 trillion pledge
JPMorgan Chase announced plans on Monday to hire bankers and invest up to $10 billion in U.S. companies considered critical to national security and economic resilience
Bank climate commitments and green lending in emerging markets
The low-carbon transition requires substantial financial mobilisation, yet it is unclear whether banks’ public climate commitments represent real change or simply greenwashing. This column uses
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
Interest rate and deposit run risk: New evidence from euro area banks in the 2022-2023 tightening cycle
Rising interest rates expose the interaction between hidden losses on long-duration assets and flighty uninsured deposits. This column uses confidential data for 139 euro area
Crypto, tokenisation, and the future of payments
The introduction of crypto technology and tokenisation is spurring changes in the financial system. Meanwhile, the Trump administration is taking steps to integrate crypto into
