In a well-functioning parliamentary system, the state budget is overseen by a group of elected authorities in a relatively transparent manner. No one person has the power to shape the process in self-serving ways. Embedding checks and balances into governance – particularly to limit the executive’s discretionary budgetary authority – is integral to accomplish the kind of structural transformation developing countries need if they are to create more stable, prosperous futures well beyond 2030. By Tania Masi, Roberto Ricciuti, Antonio Savoia, and Kunal Sen.
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Results for Op-Ed Global Economics
Tuesday 23 July 2019
Manchester, United Kingdom
Tuesday 11 June 2019
After three decades of moving toward a single global market governed by the rules of the World Trade Organization, the international order has undergone a fundamental change. The United States and China are locked in a tariff war that at first seemed to be about the bilateral trade balance, but has turned out to be about much more. Until recently, one could find hope in the fact that, despite frequent exchanges of threats, the two countries were negotiating. Not anymore. - By Joschka Fischer.
Thursday 2 May 2019
The problem is staggering, even existential. Global emissions of greenhouse gases – especially carbon dioxide – are rapidly driving up global temperatures, transforming life as we know it. If those temperatures reach 2oC above pre-industrial levels, scientists warn, the results will be catastrophic. An international conference is called, under the auspices of the United Nations. Politicians declare that the world must curb CO2 emissions to avoid exceeding the 2oC threshold. And then nothing substantial happens. By Mats Persson.
Thursday 4 October 2018
New Delhi, India
Whatever the reason for Asia’s profusion of strongmen, people and markets have gotten it wrong for too long. Strongman rulers are bad for democracy, and they are really bad for the economy. By Jayati Ghosh.
Tuesday 19 June 2018
According to an old African proverb, “When elephants fight, it is the grass that suffers.” The same is true for full-blown trade wars: when major economies clash, developing countries will be among the hardest hit.
Monday 7 May 2018
From 1949, when Mao Zedong’s communists triumphed in China’s civil war, until the collapse of the Berlin Wall 40 years later, Karl Marx’s historical significance was unsurpassed. Nearly four of every ten people on earth lived under governments that claimed to be Marxist.... On the 200th anniversary of Marx’s birth on May 5, 1818, it isn’t far-fetched to suggest that his predictions have been falsified, his theories discredited, and his ideas rendered obsolete. So why should we care about his legacy in the twenty-first century? By Peter Singer
Monday 11 December 2017
New York, USA
Globalization, which was supposed to benefit developed and developing countries alike, is now reviled almost everywhere, as the political backlash in Europe and the US in recent years has shown. The challenge is to minimize the risk that the backlash will intensify, and that starts by understanding – and avoiding – past mistakes.
Monday 7 August 2017
National and international institutional frameworks must continue to guard against destructive actions by political leaders. In the final analysis, confidence in these institutions’ resilience – and in an eventual end to the current political dysfunction – is what markets seem to be banking on. by Michael Spence.
Saturday 10 June 2017
New York, USA
After 16 years of negotiations, 11 Pacific island nations will sign the Pacific Agreement on Closer Economic Relations (PACER Plus) in Tonga on 14 June. By Daniel Gay. Inter-Regional Adviser on least developed countries, UN Committee for Development Policy Secretariat, New York.