Sustainable Growth Newswire
EPF compiles a selection of policy oriented-research from around the globe pertaining to its policy initiatives. To receive a weekly email of the newswire, please subscribe to our newsletter
Globalization in transition: The future of trade and value chains
In 2014, the McKinsey Global Institute proposed a new way of looking at globalization: by measuring global flows of goods, services, finance, and people. In 2016, they returned to the topic, highlighting the contrast between flattening trade in physical goods and soaring cross-border data flows. That report described a more digital form of globalization that has opened the door to new participants, created new sources of value, and introduced new opportunities and risks. McKinsey & Company| Globalization in transition: The future…
Blockchain and Associated Legal Issues for Emerging Markets
Blockchain, or distributed ledger technology (DLT), is a tamper-evident and tamper-resistant digital ledger implemented in a distributed fashion.This emerging technology, which enables direct transactions within a ledger without need for a central authority or trusted intermediary, has the potential to re-engineer economic models and enable the creation of markets and products previously unavailable or unprofitableacross emerging markets. However, in considering the potential benefits of blockchain, organizationmust also consider the associated risks and how they can be managed.These risks include jurisdictional…
Global Opportunity Index 2018: Emerging G20 Countries and Capital Flow Reversal
Attracting foreign investors into emerging market economies has been made more arduous by rising U.S. interest rates and heightened geopolitical risks. As their share of capital inflows grows, emerging market economies have also diversified the composition of these inflows away from foreign direct investment (FDI) toward bank and portfolio capital. However, portfolio flows are highly cyclical and 2018's drop in inflows reflects a reversal of the previous year's rise. The 2008 financial crisis triggered the last comprehensive discussion on financial…
International financial centres and development finance
Economic growth in some of the world’s poorest nations is being held back by a lack of financing. International financial centres (IFCs) have a crucial role to play in mobilising such finance as they can provide secure jurisdictions, fund structuring and tax neutrality for both private investors and public–private co-financing. The paper finds it is important that policy balance the trade-offs involved in fostering IFC intermediation of development finance, while ensuring that illicit activities continue to be tackled resolutely. It…
Global Economic Prospects – Darkening Skies
Global economic prospects have darkened. Financing conditions have tightened, industrial production has moderated, and trade tensions remain elevated. The recovery in emerging market and developing economies has stalled, and some countries have experienced significant financial stress. Downside risks have increased, including the possibility of disorderly financial market movements and escalating trade disputes. It is thus critical to rebuild policy buffers while fostering potential growth by boosting human capital, promoting trade integration, and addressing informality. The report contains pieces on the…
The Global Risks Report 2019
The Global Risks Report 2019 is published against a backdrop of worrying geopolitical and geo-economic tensions. If unresolved, these tensions will hinder the world’s ability to deal with a growing range of collective challenges, from the mounting evidence of environmental degradation to the increasing disruptions of the Fourth Industrial Revolution. This year’s report includes another series of “what-if” Future Shocks that examine quantum computing, weather manipulation, monetary populism, emotionally responsive artificial intelligence and other potential risks. The theme of emotions…
Leapfrogging: Look before you leap
New technologies, such as digital mobile communications, drones for precision agriculture and decentralized renewable energy systems that provide electricity in rural areas far from the grid, open up opportunities for leapfrogging. As developing countries have limited capabilities, opportunities for leapfrogging in these countries are presented primarily through the adoption of technologies. Innovation policies can help developing countries foster and facilitate the deployment of frontier technologies and their adaptation to meet their needs, to promote sustainable development. UNCTAD| Leapfrogging: Look before…
Rewriting the Future of Work
Three common assumptions skew economists' forecasts of automation’s impact on employment. Addressing each is essential to protect workers’ rights and change the fatalistic storyline of the prevailing narrative. Project Syndicate| Rewriting the Future of Work