News & Research Archive

Industrial Policy Revisited
Industrial policy has always been controversial and practiced by many countries in some fashion or other. The development experience that most exemplifies successful industrial policy (IP) is that of South Korea, where despite its excesses and negatives, it was part of a package of successful policies pursued by a government0led development strategies.
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Trade is Slowing Down: What Does This Imply for Globalization?
As is widely reported by the IMF and others, global trade is growing at a far slower pace since 2012 than at any time in the previous 30 years. This is all the more worrying since economic growth itself has been anemic since the Great Recession and current forecasts are not terribly ebullient.
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Why Do Governments Have So Much Difficulty Dealing With Troubled Banks?
Why Do Governments Have So Much Difficulty Dealing With Troubled Banks?
The latest spate of banking problems in Italy highlights the rather remarkable truth that governments have enormous difficulties dealing with banking crises. This situation prevails despite decades of experience on what not to do and what works in terms of bailouts.
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The Long and the Short of It: Dilemmas for U.S. Growth
The Long and the Short of It: Dilemmas for U.S. Growth
Alan Blinder at a recent LEAD Conference at Georgetown University said that the U.S. report card should be marked, “needs improvement,” next to both “growth” and “sharing of income gains.” In what he calls “a horribly muddled debate,” Blinder reminds us that growth is demand-driven in the short run and supply-driven in the long run.
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Poor Civics, Bad Economics and Worse Outcomes
Poor Civics, Bad Economics and Worse Outcomes
The plight of the U.S. economy has been variously described as a consequence of prolonged over spending and under saving, poorly conducted monetary policy and abysmal regulation, or increasing entitlements combined with tax avoidance. There is truth in each of these criticisms, and yet, the economic challenges facing the world’s largest economy are eminently solvable.
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