Financial Centres Promote Economic Development: AIFC Goes for Growth by Backing SMEs Globally

International Financial Centres (IFCs) are a necessary component of national and global economic growth. And increasingly, it is co-operation between IFCs, rather than competition, that drives the development agenda of the world’s established and emerging financial centres. As the Astana

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Joseph E Stiglitz: Beyond GDP

Just under ten years ago, the International Commission on the Measurement of Economic Performance and Social Progress issued its report, Mismeasuring Our Lives: Why GDP Doesn’t Add Up. The title summed it up: GDP is not a good measure of

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Nouriel Roubini and Brunello Rosa: The Makings of a 2020 Recession and Financial Crisis

As we mark the decennial of the collapse of Lehman Brothers, there are still ongoing debates about the causes and consequences of the financial crisis, and whether the lessons needed to prepare for the next one have been absorbed. But

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Lawrence Summers: Setting the Record Straight on Secular Stagnation

Joseph Stiglitz recently dismissed the relevance of secular stagnation to the American economy, and in the process attacked (without naming me) my work in the administrations of Presidents Bill Clinton and Barack Obama. I am not a disinterested observer, but

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PwC: Nigerian Report on Ease of Doing Business

In 2016, the Nigerian economy was in a recession recording negative growth of 1.5%. This was mainly triggered by the fall in crude oil prices. There were also foreign exchange shortages and inflation which affected the growth of the services

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Kenneth Rogoff: Are Emerging Markets the Canary in the Financial Coal Mine?

Are brewing exchange-rate and debt crises in Argentina and Turkey localised events without broader implications? Or are they early warning signs of deeper fragilities in bloated global debt markets that are being exposed as the US Federal Reserve continues to

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Otaviano Canuto, World Bank: Can Services Replace Manufacturing as an Engine for Development?

Manufacturing expansion has been a vehicle for job creation, productivity increases, and growth in non-advanced economies since the second half of the last century. First in Latin America, followed by Asia, and a renewal of production systems in Eastern Europe,

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EY: Argentina – Aspects of the Labour & Social Security Reform

A labour and social security reform bill has been recently sent to the Argentine Congress. In general, proposed amendments represent material changes to current regulations and introduce new concepts. Although the government has the support of the main labour unions,

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UNCDF: Bringing New Parties to the Table – Engaging the Private Sector to Drive Investment into Least Developed Countries

It is widely understood that the world is falling far short of the funding flows required to achieve the Sustainable Development Goals, particularly in the world’s 47 poorest countries, known as Least Developed Countries. The financing gap is estimated at

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FMO: Unlocking Scale Potential of Green Bonds in India – Lessons from Global Markets

The global green bonds market has gone from strength to strength in recent years, with issuance for 2017 already exceeding $100bn, some $20bn more than the total issuance in 2016 and the first time this benchmark has been breached. According

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