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Tag Archives: Government

Cybersecurity Threats Call for a Global Response

By David Lipton عربي, 中文, Español, Français, Русский  Last March, Operation Taiex led to the arrest of the gang leader behind the Carbanak and Cobalt malware attacks on over 100 financial institutions worldwide. This law enforcement operation included the Spanish national police, Europol, FBI, the Romanian, Moldovan, Belarusian, and Taiwanese authorities, as well as private cybersecurity companies. Investigators found out that hackers were operating in at least 15 countries. We all know...

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For Venezuela’s Neighbors, Mass Migration Brings Economic Costs and Benefits

By Emilio Fernandez Corugedo and Jaime Guajardo Español, Português The world’s newest migration crisis is unfolding in Latin America, where Venezuela’s economic collapse and unprecedented humanitarian crisis has sparked a wave of emigration to neighboring countries. While these countries are providing helpful support to migrants in many areas, large migration flows have strained public services and labor markets in these countries. According to the Response for Venezuelans, which is a...

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Reform Doesn’t Have to Cost Votes

By Davide Furceri, Jonathan D. Ostry, and Chris Papageorgiou Economic reforms are often painful in the short term and hence unpopular, but does that mean reform-minded leaders always pay a price at the ballot box? Not necessarily, we learned in our analysis of structural reforms and election outcomes in 66 countries. The question is timely, because the economic policy agenda in both advanced and developing economies is increasingly focused on structural reforms, amid persistently weak...

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US Business Investment: Rising Market Power Mutes Tax Cut Impact

By Emanuel Kopp, Daniel Leigh, and Suchanan Tambunlertchai US business investment has been on the rise. Since the passage of the Tax Cuts and Jobs Act at the end of 2017, US businesses have bought more machinery, developed software, and created new intellectual property. Some believe that the key to this growth in business investment has been the Act’s cut to the corporate tax rate from 35 percent to 21 percent, which lowered the cost of capital. Lower capital costs could, at least...

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The Slope of the US Yield Curve and Risks to Growth

By Tobias Adrian, Rohit Goel and Fabio Natalucci The slope of the yield curve in the US has inverted in recent months, making long-term debt significantly cheaper than short-term debt. This inversion is a gauge of investors’ confidence in the economy and signals doubts about future growth. The slope of the Treasury yield curve is the difference between the interest rate on long-term and short-term debt; and each time the curve inverts, there are questions about the reliability of the...

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Chart of the WeekGrowing Through Education in Nigeria

By Vivian Malta and Monique Newiak Our chart of the week, drawn from the IMF’s 2019 economic health check for Nigeria, highlights substantial inequality in access to education between girls and boys, and between rich and poor. It is widely accepted that addressing educational gaps results in rapid and large benefits for children, their families, communities, and the country more broadly.   Limited schooling for girls According to a survey conducted by the Nigeria Bureau of...

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A Global Picture of Public Wealth

By Jason Harris, Abdelhak Senhadji, and Alexander F. Tieman Español, Português Our new data on government assets shows that when governments know what they own, they can make better use of the assets for the well-being of all their citizens.  We make these data free and publicly available for all to use because we believe transparency can help create better public policy.  The chart shows that advanced economies have larger balance sheets compared to emerging markets and low-income...

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State Ownership in Europe’s Former Socialist States: The Unfinished Reform Agenda

By Poul Thomsen As we approach the 30th anniversary of the fall of the Berlin Wall, the former socialist countries of Central, Eastern, and Southeastern Europe (CESEE) have made tremendous progress in becoming full-fledged market economies and raising income levels. Large-scale privatization in the 1990s was a key element of this transition but produced mixed results. In some cases, privatization generated broad-based ownership and healthy competition, while in some other countries,...

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Chart of the WeekKeeping the Wheels of Commerce Turning

By IMFBlog The tariff disputes roiling markets are a reminder that the global system of free trade, which has delivered so much prosperity, is a fragile one. We all know what happened in the 1930s, when trade wars only served to deepen the misery inflicted by the Great Depression. That is why, after World War II, countries agreed to gradually reduce tariffs. But many continued to restrict flows of goods across borders in other ways as they sought to give their domestic industries an edge...

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How to Help, Not Hinder Global Growth

By Christine Lagarde As the G-20 finance ministers and central bank governors gather this week in Fukuoka, they can take inspiration from their host city. Known as Japan’s “startup city,” Fukuoka has flourished in recent decades by embracing trade, innovation, and openness. That spirit is needed more than ever to help reduce trade tensions and clear other stumbling blocks on the way back to higher and more sustainable growth. The goal must be to help, not stand in the way of global growth....

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