Carbon risk in loan pricing: Commitment channels and real effects
Transition risks related to climate change are increasingly recognised in equity and bond markets. This column uses syndicated loan tranches issued to US firms to
Baby busts and GDP booms: Demographic change and the macroeconomy
Globally declining birth rates have, over the last seven decades, slowed population growth and raised average ages. This column argues that despite widespread economic pessimism,
Ray of hope? The rise of solar energy in China
China’s solar industry is a poster child for the country’s economic rise over the last four decades. The output of Chinese solar grew by 76%
A silver lining to the European energy crisis: Energy efficiency, productivity, and potential output
The 2022 natural gas price shock triggered the largest rise in fossil fuel prices in Europe since the 1970s. This column examines the impact on
Multinational firms and global innovation
Multinational companies are at the heart of two key globalisation trends: the fragmentation of production and the internationalisation of innovation. This column studies the global
House prices in big cities cannot be expected to come down any time soon
House prices have increased sharply in many advanced economies, often leading to populist revolt and social crises. This column argues that agglomeration externalities foster urbanisation
Aligning drug prices and innovation: How global spillovers shape the future of medicines
As the US and EU push forward with drug-pricing reforms, the topic has moved to the centre of political debate. This column shows how national
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
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
Is AI adoption impacting job markets in South Asia?
The rapid development of artificial intelligence (AI) is transforming the global economy and reshaping labor markets. What does this mean for the South Asia region?
