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Otaviano Canuto, World Bank: The Metamorphosis of Financial Globalisation
After a strong rising tide starting in the 1990s, financial globalisation seems to have reached a plateau since the global financial crisis. However, that apparent stability has taken place along a deep reshaping of cross-border financial flows, featuring de-banking and
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Otaviano Canuto & Matheus Cavallari, World Bank: Bloated Central Bank Balance Sheets
Central banks of large advanced and many emerging market economies have recently gone through a period of extraordinary expansion of their balance sheets and are all now possibly facing a transition to less abnormal times. However, the fact that one
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DeVere Group: Decisive Move Into Private and Investment Banking
One of the world’s largest financial consultancy services providers has moved into banking. Late last year, deVere Group acquired the St Lucia branch of Arton Bank in order to gain a foothold in private banking, and earlier this month the
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Davos: Growing Awareness of Growing Unease
William F Browder of Hermitage Capital Management has been a Davos regular for over twenty years, unfailingly embarking every January on a pilgrimage to the Swiss resort town to mingle with his peers, swap experiences, and ponder the challenges ahead.
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Gavin Wilson, CEO IFC AMC: Mobilising Private Capital for Sustainable Development
Building and upgrading the infrastructure to underpin sustainable development in emerging markets and elsewhere requires additional investments estimated at around one trillion dollars annually. To support expected economic growth rates, and meet the UN’s Sustainable Development Goals (SDGs), the McKinsey
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European Investment Bank: Investment Plan for Europe
Investment Plan for Europe – Paradigm Shift in the Use of Public Resources The Marshall Plan did much to inject life into the post-war recovery of Europe. Initially comprising $13 billion, mostly in direct aid, the plan constituted a substantial
Read More Otaviano Canuto, IMF: What Happened to World Trade?
World trade suffered another disappointing year in 2015, experiencing a contraction in merchandise trade volumes during the first half and only a low recovery during the second half (Figure 1). While last year’s trade performance can be associated to the
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Ann Low, US Department of State: Good Corporate Governance is Good Business
OECD Guidelines on Corporate Governance of State-Owned Enterprises. Over the past decade, cross-border trade and investment by state-owned enterprises (SOEs) has surged. According to the OECD, whereas in 2005, there were only three SOEs in the Fortune Global 50 list
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Building Stronger Governance and Compliance Foundations in Sub-Saharan Africa
Analysts, politicians, economists and media pundits have kicked off 2016 with a largely pessimistic outlook for the global economy. Clearly none of us can predict where the economy will be in twelve months but we do know that we are
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Michael Pettis: Money Is Not Created Out of Thin Air
A recurring conversation I have with clients concerns the ability of banks to create credit, and of governments to monetise debt, and whether this ability is the solution to or the cause of financial instability and economic crisis. Monetarists and structuralists
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