The design and effect of tariff retaliation: Evidence from the EU
As global trade policy becomes increasingly protectionist, the threat of tariff retaliation looms large. This column analyses how the EU’s 2018 response to US steel
Global trade linkages and the cross-country distribution of the gains from AI
Productivity gains from AI are expected to be significant, but how international trade shapes the cross-country distribution of these gains remains an open question. This
South Asia opens up: How trade reforms impact households and sectors
Over the next decade, about 280 million people will come of working age in South Asia. The region needs a robust growth engine to create jobs
Big cities and globalisation
Globalisation has deepened economic inequalities between large cities and the rest. This column examines foreign trade integration in larger cities versus other regions across Brazil,
The narrowing path: Trade and development in a new era
For decades, international trade has been a powerful engine of development. Countries like South Korea and China achieved remarkable transformations – moving from low-income agricultural
The economic value nations create for others relative to domestic gains
True economic power lies not only in what a country gains from trade, but also in how much it contributes to the prosperity of others.
Dollar dominance and the Trump administration
There is general agreement that a currency’s safe-haven status can be gauged by its response to changes in financial volatility. This column documents how, in
A Three-Pronged Strategy Can Help Developing Economies Attract FDI and Unlock its Full Potential
Foreign direct investment (FDI) plays a critical role in the world economy. Global FDI flows averaged almost $2 trillion per year during the past decade, up
US budget deficit forecast $1trln higher over next decade, watchdog says
The Committee for a Responsible Federal Budget’s latest forecasts show a cumulative deficit of $22.7trln from fiscal 2026 to 2035. U.S. federal budget deficits will
Adjusting productivity for carbon emissions: A new perspective on the growth slowdown
Productivity growth has been lacklustre over the past 20 years in most advanced economies. But standard productivity measures ignore the progress that some economies have
