Current Account Deficits and Safe Assets
The International Monetary Fund has issued its External Sector Report for 2017, and among its key findings: “Global current account imbalances were broadly unchanged in 2016…” The U,S. continues to…
Why Lebanon’s New Government Needs a New Economic Model
After a two and a half year political impasse, Lebanon now has a new government. And after 12 years without a budget Lebanon’s government led by new Prime Minister Saad…
A New Banking Crisis?
Bad Numbers Today, there are over $3 trillion in stressed loan assets, compared to around $1 trillion of US sub-prime loans which was the catalyst for the 2008/2009 crisis. The…
John Maynard Keynes and Effective Macroeconomic Policy
“The ghost of John Maynard Keynes…has returned to haunt us”, commented Martin Wolf (2008) in the wake of the global financial crisis, suggesting that the lessons from the father…
Can Uganda Step Up to New Economic Challenges?
photo: Mark Nelson Leif Rosenberger: Former Professor of Economics, US Army War College & Former Chief Economist at CENTCOM and PACOM Back in the 1970s, Uganda was one of the worst…
New Pragmatism: Economics and Economic Policy for the Future
New pragmatism is an original, paradigmatic and heterodox theoretical concept within the field of economic science, which attempts to address current civilizational challenges and factors that will determine the…
Transformative Changes in World Energy Production and Trade
Major changes in oil production have transformed the US from a major importer to a major producer and sometime exporter of oil. The market power of OPEC and its non-member…
Matchmaking Finance and Infrastructure
The world economy – and emerging market and developing economies in particular – display a gap between infrastructure needs and its finance (Canuto, 2014). On the one hand, infrastructure investment has…
Turkey: Lower Reserves and Higher Rates, but Market Turmoil Is Unlikely
Key takeaway – Despite declining reserves and increased interest rates, Turkey is unlikely to suffer a market-crash over the next 12 months. What happened? Since the July 2016 coup attempt,…
European Union Recovery – Surprise Economic Story of 2017
Against all odds, and contrarily to a generalized gloomy scenario of the past years about the destiny of the European Union, the Euro area has surprisingly recorded a stronger…