Multi-issuer stablecoins: A threat to financial stability
Stablecoins – digital tokens pegged to fiat currencies – have emerged as a major innovation in crypto finance, with broad implications for payments and international
Public R&D and Brazil’s agricultural revolution
It is often argued that returns to R&D are low in developing countries, making imported technologies a better path to growth. Yet technologies designed for
Sustained growth through creative destruction: Nobel laureates Philippe Aghion and Peter Howitt
Philippe Aghion and Peter Howitt have been jointly awarded the 2025 Nobel Prize in Economic Sciences with Joel Mokyr ‘for having explained innovation-driven economic growth’.
Empowering youth with opportunities and jobs to end poverty
At the beginning of my advocacy journey, I often searched for affordable ways to present myself at events. A friend of mine had launched a
Why export controls accelerate innovation: Evidence from the 2007 US ‘China Rule’
A key debate surrounding export controls is whether they accelerate innovation in targeted rivals. This column studies this question using a set of US export
What money will become: Seven key questions
The digital age has ushered in an era of transformation for money, triggering debates about the role of cryptocurrencies, central bank digital currencies, stablecoins, and
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
Assessment of disruptive innovation in science and technology policy: Insights from meta-science research trends
Technological innovation, including disruptive innovation, is a driving force for economic growth and social change, but early identification of such technologies and assessments of their
What corporate earnings calls reveal about the AI stock rally
The launch of ChatGPT in late 2022 marked a turning point in how firms and investors view generative artificial intelligence. This column measures the extent
Mission possible: When innovation meets outcomes
Peter Drucker, often called the father of modern management, once wrote that “innovation is the specific instrument of entrepreneurship…the act that endows resources with a
