Publications

Economic Policies for Affordable, Secure and Clean Energy: Synthesis Report

 | 5 June 2026
Fiscal, Policy Briefs | Tags: Decarbonization, Energy, Industrial Policy, Policy Coherence, Tax Expenditures
Recent energy crises, surging electricity demand and accelerating climate change have pushed affordable, secure, and clean energy to the top of policy agendas worldwide. The challenge respects no borders,making cross-country perspectives timely. ... continue reading

Tax Expenditures Country Report: Zimbabwe

 and | 20 May 2026
Fiscal, Discussion Notes | Tags: GTED, GTETI, Tax Expenditures, Zimbabwe
Tax expenditures (TEs) in Zimbabwe represent a significant portion of government spending, amounting to 2.8 percent of GDP, 24.7 percent of total revenue, and 21.2 percent of public spending in 2023. Companies benefitting from TEs enjoy tax savings that trigger a reduction in government revenue, ... continue reading

VAT and Social Equity: The Case of Period Products

 | 18 May 2026
Fiscal, Blog | Tags: Gender, Inequality, Tax Expenditures, VAT
Value added tax (VAT) is one of the most important revenue sources for the 21st-century tax and welfare state. This holds true for OECD Member Countries as well as EU Member States, and more so for low-income countries. ... continue reading

ASEAN Central Banks Need New Tools for New Risks

 and | 13 May 2026
Monetary, Op-Eds | Tags: ASEAN, Central Banks, Energy, Systemic Risks, Targeted Refinancing Lines
Southeast Asia faces a growing exposure to novel interacting risks that drive inflation and financial instability. Under the Philippines’ leadership as 2026 ASEAN chair, there is an opportunity to strengthen the region’s response to reduce exposure to and manage the risks through the ASEAN Finance ... continue reading

Japan Needs a New Framework for a Post-Deflation Economy

 | 29 April 2026
Monetary, Blog | Tags: Central Banks, Economic Growth, Governing Finance, Japan
Japan’s policy-makers should reconsider whether the institutional framework governing relations between the government and the Bank of Japan still fits the country’s economic priorities. ... continue reading

Macroprudential Policy for a Low Carbon Economy: The Case of Cross-Border Funding in China

 and | 24 April 2026
Monetary, Policy Briefs | Tags: China, Decarbonization, Macroprudential Policy
Understanding how macroprudential frameworks can be designed and adapted to support cross-border flows is therefore an increasingly pressing question for policymakers. This paper distills the lessons from China on how to do so. ... continue reading

Closing the Gap to Boost Asean Resilience Against Novel Risks

 | 23 April 2026
Monetary, Op-Eds | Tags: ASEAN+3, Central Banks, Financial Supervision, Macroprudential Policy, Systemic Risks
The Philippines deserves genuine credit for its stewardship of this year’s Asean Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM). Various novel risks and challenges have been discussed – from geoeconomic and geopolitical risks to cross border payments, financial resilience and climate risk management. ... continue reading

Why Tax Expenditure Reporting Is a Missing Link in Financing for Development

 , , , , and | 21 April 2026
Fiscal, Blog | Tags: Domestic Revenue Mobilization, GTED, Tax Expenditures
With aid budgets shrinking and debt vulnerabilities mounting, the $4 trillion governments forgo annually through exemptions, credits, and preferential rates demands greater transparency and accountability. ... continue reading

Digital Trade in Africa: A Research Agenda

 and | 20 April 2026
Trade, Books | Tags: Africa, Digital Economy, Digital Trade, Services Trade
Africa’s digital economy is poised for significant growth, driven by initiatives like the recently adopted Digital Trade Protocol under the African Continental Free Trade Area (AfCFTA), which aims to reduce trade barriers and enhance regional integration. ... continue reading

Japan Shifts to a New Fiscal Anchor

 | 15 April 2026
Fiscal, Blog | Tags: Debt, Fiscal Rules, Japan
Japan is redefining the framework that anchors its public finances. Following the belated approval of the 2026 financial year budget, attention will turn to the Sanae Takaichi administration’s shift from a single-year primary balance target towards a medium-term approach centred on stabilising the debt-to-gross domestic product ratio. ... continue reading

How Can Ministries of Finance Support the Low-Carbon Transition Through Coherent ‘Policy Packages’?

 | 13 April 2026
Fiscal, Monetary, Blog | Tags: Carbon Pricing, Energy, Industrial Policy, Policy Coherence, Tax Expenditures
The transition towards greener and more resilient economies is one of the defining economic opportunities of our time. From growth and innovation to enhanced competitiveness and long-term savings, the potential gains are substantial. ... continue reading

Insurance Protection for Climate-Resilient Progress

 | 27 March 2026
Fiscal, Monetary, Op-Eds | Tags: Climate Risks, Insurance, Vietnam
This op-ed was first published in the Vietnam Investment Review. The World Bank has estimated that about $300 billion of the country’s commercial and industrial assets are vulnerable to climate-related disasters. Patrick Lenain, senior associate at the Council on Economic Policies, looks at the gaps ... continue reading

Fortifying the Role of Finance After Indonesia’s Floods

 and | 14 March 2026
Monetary, Op-Eds | Tags: Climate Risks, Financial Stability, Governing Finance, Indonesia, Macroprudential Policy
The floods are a stark reminder that finance is never neutral. When well governed, it can absorb shocks, speed reconstruction and strengthen resilience. When misaligned, it can amplify fragilities and lock in future risks. ... continue reading

Upgrading Housing: the Potential and Limits of Borrower-Based Measures

 , , , , and | 3 March 2026
Monetary, Discussion Notes | Tags: Credit Risk, Energy, Financial Stability, Housing, Macroprudential Policy
This paper explores how borrower-based measures (BBMs) can be adjusted to provide additional funding for housing-related energy-efficiency investments without compromising financial stability objectives. ... continue reading

Governing Tax Expenditures: Lessons from Four Advanced and Emerging Market Economies

 , and | 2 March 2026
Fiscal, Blog | Tags: Brazil, Domestic Revenue Mobilization, France, India, Tax Expenditures, United Kingdom
This blog builds on four Tax Expenditures Country Reports published within the series hosted by CEP and IDOS, and shows how Brazil, France, India, and the United Kingdom govern tax expenditures across three critical dimensions: benchmark definition, reporting, and evaluation. ... continue reading
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