Two Sessions 2023: Reforming China’s Financial Governance
Sebastian Guo and
Peter Knaack | 22 March 2023
Monetary,
Blog | Tags:
China,
Economic Growth,
Financial Stability
Over the past years, China has reformed the governance of its financial system to better serve its development path.
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Inflation Reduction Act vs. Green Deal: Transatlantic Divergences on the Energy Transition
Patrick Lenain | 20 March 2023
Monetary,
Trade,
Blog | Tags:
Decarbonization,
Energy,
Industrial Policy,
Protectionism,
Tax Expenditures
The U.S. Inflation Reduction Act (IRA) has caused significant transatlantic tensions since its signing by Joe Biden in August 2022. The White House aims to break with the country’s high levels of fossil fuel consumption and switch to clean energy - a change that Europeans
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The Digital Transition of Services: Getting Regulation Right From the Start
Hildegunn Kyvik Nordås | 9 March 2023
Trade,
Blog | Tags:
Competition,
Digital Economy,
Innovation,
Privacy,
Services Trade
The digital transition and the introduction of artificial intelligence (AI) in services are blurring the boundaries of both occupations and sectors. At the same time, new or rekindled trade-offs between different regulatory objectives arise, transgressing sectoral and occupational boundaries as we know them. Services regulations,
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Keeping Risks in Check. Towards a Comprehensive Reflection of Climate Risks on Central Bank Balance Sheets
Julia Anna Bingler | 27 February 2023
Monetary,
Blog | Tags:
Asset Purchases,
Central Banks,
Climate Risks,
Financial Governance
Central banks have been highlighting the financial risks from climate change for several years. The fact that they are still not accounting for these risks across all their operations is striking. This must change.
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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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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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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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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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