US-Japanese knowledge transfer programme in the aftermath of WWII
Following WWII, Japan experienced three decades of rapid productivity growth and convergence with the US. This column studies the Japanese Productivity Program, a joint US-Japanese
European defence governance and financing
In a context of shifting US commitments, external threats, and global competition over trade, technology, critical minerals, talent, and intellectual property, Europe’s lack of defence
Frontiers of digital finance, part 1: A global perspective
The digitisation of payment, trading, and settlement systems is reshaping the financial architecture. This column, the first in a two-part series, offers an overview of
EU agrees weakened climate target in final-hour deal for COP30
EU climate ministers agreed a 2040 climate change target in the early hours of Wednesday after watering down the goal in last-minute negotiations, as they
Data, power and emissions: How AI’s growth may slow down the green transition
AI and other data-intensive technologies may help optimise energy use, but the technologies themselves are power hungry. This column explores how the diffusion of AI
Leading firms are falling behind in developing East Asia
For decades, East Asia has been a paragon of economic dynamism. But today, in an era of rapid global technological advances, productivity growth in the
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’.
The impact of fintech on lending
Fintech has improved efficiency and inclusion in banking, especially lending, but has also raised concerns about financial stability, privacy, discrimination, and overall wellbeing. This column
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
The new curse of critical minerals
A race is raging among global powers to secure access to critical minerals to power the simultaneous energy and digital transitions the world is experiencing.
