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Development Economy Featured Finance

Industrial policy lessons from East Germany’s privatisation

There has been renewed interest in industrial policy as a tool to reshape the structure of economic activity, but little evidence exists on the successful design and implementation of these policies. This column examines the transformation of East Germany’s state-controlled economy after the collapse of socialism and draws valuable lessons from the experience for contemporary […]

Climate Development Energy Environment Featured

What will it cost to build the cities of the future?

Cities are engines of economic growth and job creation, and their future pathways will shape global development outcomes for decades to come.  But the success of this transformation depends on making the right investments now—investments that strengthen essential infrastructure, unlock new jobs, and build cities that are more sustainable and resilient.  The charts below visualize […]

Economy Featured Finance News

Fiscal stagnation

Public debt-to-GDP ratios have climbed to historic highs in most advanced economies. This column studies the connection between productivity growth, fiscal policy, and public debt. Using a theoretical model, it argues that a feedback loop is possible between fiscal policy and growth. Large primary surpluses are associated with fiscal distortions which depress investment and productivity […]

Development Featured Innovation News Productivity

The global impact of AI: Mind the gap

Artificial intelligence is widely seen as a transformative force for productivity and innovation. Yet, its macroeconomic implications remain uncertain, especially from a global perspective. This column shows how structural differences in AI exposure, preparedness, and access in advanced economies, emerging markets, and low-income countries shape the distribution of AI-induced productivity gains. While improvements in AI […]

Covid-19 Economy Featured Finance

When upskilling is good but not enough: Understanding labour shortages through a job-quality lens

Advanced economies are still experiencing labour shortages in the aftermath of the COVID-19 pandemic. This column examines the high labour shortages across OECD countries, focusing on wage and non-wage job quality. Real wages have generally increased, but with differences between countries and industries. Beyond pay, job insecurity, poor working conditions, and exposure to health risks […]