There is a sizeable gap between the world economy’s infrastructure needs and available financing. The shortfall is especially pronounced in emerging markets. Infrastructure investment has fallen short of what is needed to support…
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 an increasing weight of non-banking financial cross-border transactions. Sources of potential instability and long-term funding challenges have morphed accordingly
15 July 2017 - Otaviano Canuto, Aleksandra Liaplina The world economy – and emerging market and developing economies in particular – display a gap between their infrastructure needs and the…
One major policy issue in Brazil is how to boost productivity, while following a path of fiscal consolidation that will take at least a decade to bring the public-debt-to-GDP…
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.
ECON+ has, once again, the pleasure of bringing you an exclusive interview with Otaviano Canuto, Executive Director at the World Bank. This time, the article “The Mist of Central Bank…
The Mist of Central Bank Balance Sheets Otaviano Canuto | Mon, 24 April 2017 This podcast is performed by Mr. Otaviano Canuto. Central banks of large advanced and many…
In previous pieces, we have analyzed the run up to the still-ongoing Brazilian recession as a combination of factors. Given an “anemia” of productivity increases, an appetite for public…
Small states, like the Caribbean countries, have been negatively affected by recent “de-risking” policies implemented by international banks, with particularly damaging consequences on correspondent banking relationships.
The AIIB will help fill the infrastructure finance gap 9 April 2015Author: Miriam L. Campanella, University of Turin The China-led Asian Infrastructure Investment Bank (AIIB) will serve to ease the…
Since last year there has been much talk of possible financial stress stemming from increased debt leverage in non-financial corporates of emerging markets economies. A recent study has brought…
The world economy faces huge infrastructure financing needs that are not being matched on the supply side. Emerging market economies, in particular, have had to deal with international long-term…
Book launch (2014-01-29) - "Dealing with the challenges of macro financial linkages in emerging markets" Click here to download To watch the book launch, click here or copy and paste…
The global economy looks poised to display better growth performance in 2014. Leading indicators are pointing upward – or at least to stability – in major growth poles. However, for this to translate into reality policymakers will need to be nimble enough to calibrate responses to idiosyncratic challenges.
Global financial integration and the linkages between the financial and the real sides of economies are sources of huge policy challenges. This is now beyond doubt, after what we saw in the run-up to and the unfolding of the 2008 global financial crisis. As a consequence, the established wisdom regarding monetary policies and prudential regulation has been subject to a deep critical review, including a demise of the belief that they should be maintained as fully independent functions.