The hidden costs of China’s industrial policy
China uses a wide array of industrial policies, such as subsidies and regulations, to promote strategic economic sectors. This column estimates that the equivalent fiscal
The unbearable lightness of promises
When reforms are judged by their plans rather than their impact, they risk drifting into the lightness of promises unmet. An “outcome reflex” mindset restores gravity—anchoring
US bank stocks plunge as investors grow uneasy about mounting risks
U.S. bank stocks, including Zions Bancorporation, Jefferies, and Western Alliance, fell sharply on Thursday as investors grew uneasy about risk in the sector, which has
Many paths to jobs: New World Bank Group Scorecard insights
Two years ago, the World Bank Group launched a revamped Scorecard not as another report but as a promise: that measuring impact would become part of how
Information and the labour market
Workers often remain in their jobs even when they know they may get higher wages elsewhere, raising questions about the effectiveness of pay transparency laws.
The market implications of industrial subsidies
Governments are increasingly employing industrial subsidies, raising questions about their market implications. This column undertakes a thorough econometric testing of the causal impacts of subsidies
