Does Fintech Promote Entrepreneurship? Evidence from China
Peter Knaack | 24 January 2023
Monetary,
Blog | Tags:
Digital Economy,
Entrepreneurship,
Fintech Policy moves and public statements in recent years indicate that Beijing seeks to simultaneously support the growth of internet finance platforms and reign in anticompetitive practices and risky behavior.
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Tax Expenditure Scrutiny Can End Trillion-Dollar Political Game
Flurim Aliu,
Doug Koplow and
Agustin Redonda | 19 January 2023
Fiscal,
Commentary | Tags:
Income Tax,
Inequality,
Tax Expenditures,
United States Too often, government spending is understood only as cash payments to specific individuals or groups. However, targeted exemptions or reductions in taxes owed strain public coffers similarly to direct spending, though often with far less visibility.
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The Return of China: Mostly Positive News for Vietnam
Patrick Lenain | 17 January 2023
Trade,
Commentary | Tags:
China,
Covid-19,
Trade,
Vietnam In light of China's reopening, many forecasters now see a strong V-shaped rebound from mid-2023, led by private consumption.
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The Swiss National Bank Struggles to Manage Climate Risks
Pierre Monnin | 6 January 2023
Monetary,
Commentary | Tags:
Central Banks,
Climate Risk,
Financial Stability In Europe and elsewhere, central banks are implementing measures to contain financial risks associated with climate change in their asset portfolios. The Swiss National Bank is not among the leaders in this area.
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Trade Protection – What Impact on Jobs and Wages?
Nicolas Benoit and
Patrick Lenain | 23 December 2022
Trade,
Blog | Tags:
Protectionism,
Trade Liberalization,
Unemployment,
Wages New research indicates that import tariffs by the US on China increased employment and wages in the targeted industries. The benefits are counterbalanced, however, by several costs to the economy as a whole.
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Supporting the Just Transition: a Roadmap for Central Banks and Financial Supervisors
Pierre Monnin and
Nick Robins | 22 December 2022
Monetary,
Policy Briefs | Tags:
Central Banks,
Financial Inclusion,
Financial Supervision,
Inequality,
Transition risks Shifting to a sustainable economy will reshape the outlook for countries and sectors across the world. Managed well, the net zero transition could lead to more and better jobs as well as reduced risks from climate shocks. Managed poorly, however, it could result not
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Trade in Marine Debris Collection Services
Hildegunn Kyvik Nordås and
Ronald Steenblik | 15 December 2022
Trade,
Policy Briefs | Tags:
Biodiversity Risk,
Environmental Services,
Services Trade The economic costs of marine debris to the APEC region are high. It is critical to remove restrictions on trade, investment and the temporary movement of people needed to engage in debris clean-up services. APEC Ministers have noted how environmental services are important to prevent,
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How the State Bank of Vietnam Deals With Climate Risks
Pierre Monnin and
Patrick Lenain | 13 December 2022
Monetary,
Commentary | Tags:
Central Banks,
Climate Risk In Vietnam, the central bank has successfully supported economic growth. However, by doing that, the State Bank of Vietnam (SBV) has also contributed – unintentionally – to fast-rising greenhouse gas emissions.
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The Devil in the Detail? Eight Lessons from Tax Expenditure Reporting in Rwanda and Uganda
Hazel Granger,
Kyle McNabb and
Harshil Parekh | 22 November 2022
Fiscal,
Blog | Tags:
Fiscal Policy,
Tax Expenditures Tax expenditures (TEs) are used widely around the world. Their role in the fiscal systems of low- and middle-income countries has recently attracted increased scrutiny.
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All Hands On Deck To Confront The Energy Crisis
Patrick Lenain | 15 November 2022
Trade,
Blog | Tags:
Carbon Pricing,
Energy,
Fossil Fuel Subsidies The current energy crisis illustrates once again the importance of reliable, diversified and affordable energy sources. Strong price increases inflict heavy economic damages: if coal, oil and gas retain their recent high prices, global spending on energy will reach 13% of GDP in 2022 –
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Is the Current Macroprudential Framework Fit for Climate Systemic Risk?
Pierre Monnin | 13 November 2022
Monetary,
Blog | Tags:
Central Banks,
Climate Risks,
Financial Stability,
Macroprudential Policy,
Systemic Risks Climate change and the transition to a low-carbon economy have a clear systemic dimension, and they potentially pose a systemic risk for the financial sector. This has been highlighted by several international and national financial authorities and urgently needs to be addressed.
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China’s Structural Monetary Policy Tools: Objectives, Limitations, Unintended Consequences
Sebastian Guo | 7 November 2022
Monetary,
Policy Briefs | Tags:
Central Banks,
China,
Targeted Refinancing Lines Central bank interventions have intended and unintended structural effects. A growing number of monetary authorities are acknowledging these structural implications of monetary policy and have started addressing them more actively. In line with this development, the People’s Bank of China (PBC) has introduced a range
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Digital Industrialization: Building Internationally Competitive Digital Industries With Global Value Chain Connectivity
Hildegunn Kyvik Nordås,
Rupa Chanda,
Yose Rizal Damuri,
Jane Drake-Brockman,
Dionisius Narjoko,
Neha Mishra,
Matthew Stephenson and
Makoto Yokazawa | 14 October 2022
Trade,
Policy Briefs | Tags:
Digital Economy,
Trade Governance Formulating domestic strategies to develop digital industries and increase participation in fast growing “tech trade” has emerged as a policy priority across the G20. This requires a balancing act between industrialization versus employment objectives, data protection and national security goals versus international competitiveness and openness.
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Tax Expenditures and Female Labour Force Participation
Agustin Redonda,
Jacob Bastian,
Amina Ebrahim,
Nora Lustig and
Miranda Stewart | 4 October 2022
Fiscal,
Policy Briefs | Tags:
Employment,
Fiscal Policy,
Tax Expenditures The gender gap in labour force participation (LFP) has been a long-standing issue worldwide. On average, female LFP is currently 25 percentage points below men’s. The impact of the COVID19 pandemic has widened the gap since women have been hit harder by the crisis.. The
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A Silent Wave of Financial Stress Threatens Crisis in Emerging Markets
Avinash Persaud | 5 September 2022
Blog | Tags:
Debt,
Financial Markets A silent wave of financial stress is running through world markets and will soon crash onshore. The yield on long-term sovereign debt is a measure of pressure. It is no surprise that you can’t easily find prices for Sri Lankan, Ukrainian, El Salvadoran, Venezuelan and
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