The overlooked power of communities in poverty measurement
As with the informal economy, the lack of data on social capital in developing nations has contributed to its exclusion from poverty models. However, if poverty
Dollar stable even with US rate cuts in focus, yen vigil continues
Rate-cut wagers ramp up after dovish comments from policymakers. The U.S. dollar was steady on Tuesday even as investors deliberated over the chances of a
Then and now: A look back and ahead at the US federal budget
There is now widespread concern that the US faces an unsustainable fiscal future under current policies. The rise in the debt-to-GDP ratio since 2001 can
Financial fragmentation as a vulnerability in euro area bond markets
As European governments scale up investment, bond market stability is more critical than ever. This column shows that financial fragmentation can undermine that stability by
Public money, private innovation: How government funding built – and sustains – America’s technological leadership
The US has long been the world’s innovation powerhouse, based on a system that combines public funding with private initiative. Yet this model is under
Credit and product innovation in emerging markets: Evidence from India
Access to finance is an important driver of innovation in developed countries. This studies a 2006 reform in India that expanded credit access for many
The European Union’s new fiscal rules: A fine line between brilliant masterpiece and another chapter of déjà vu
The 2024 reform of the European Union’s fiscal framework promises long-term sustainability through greater national ownership and country-specific medium-term expenditure paths. This column argues, however,
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
Gold rises more than 1% on risk-off mood, dollar pause
Non-yielding gold tends to do well in a low-interest-rate environment and during times of economic uncertainty. Gold prices gained more than 1% on Wednesday, with
Dollar index at three-month high, testing top of recent range
The yen was at 154.1 per dollar, languishing near an 8-1/2-month low, pressured by wide interest rate differentials. The dollar hovered near a three-month high
