While Latin America’s development bank, Fondo Latinoamericano de Reservas (the Latin American Reserve Fund, or FLAR) went largely unnoticed for much of the 20th century, it has evolved considerably during its more than four decades in operation. It began as a small reserve pooling arrangement for Andean countries and now occupies a vital role as […]
By Sayuri Kataoka and Claire Paul The Fall 2023 Global Economic Governance Book Talk Series convened five distinguished scholars with recent books on topics ranging from Active Non-Alignment in Latin America to the political economy of sovereign debt default and more. The Global Economic Governance Initiative (GEGI) advances policy-oriented research to align global economic governance […]
By Sayuri Kataoka The Boston University Global Development Policy (GDP) Center is pleased to present the 2023-2024 cohort of Global Economic Governance Fellows. These four excellent scholars join the GDP Center from various backgrounds and universities, including Stony Brook University, American University and Syracuse University. They have or will be completing doctoral degrees in disciplines […]
Euro area central banks are reporting losses as they pay banks 4 percent but collect only 1 percent on trillions of euros of bonds bought to spur growth with lower yields. Once central banks exhaust their capital, they may need to go to their governments. Recently, the European Central Bank (ECB) ceased to pay interest […]
By Tim Hirschel-Burns From October 9-15, thousands of finance ministry representatives, policymakers, researchers and academics, civil society advocates, press and other stakeholders convened in Marrakech, Morocco for the 2023 International Monetary Fund (IMF)/World Bank Group Annual Meetings. These meetings, the first time an African member state has hosted them in 50 years, came at a […]
Countries will need to mobilize a stepwise increase in domestic resources and put in place a broad array of new policies in order to meet the targets set out under the Paris Agreement on climate change and the United Nations 2030 Sustainable Development Goals (SDGs). Delivering economic growth and prosperity in a manner that is […]
By Praveena Bandara On September 26, 2023, the Boston University Global Development Policy (GDP) Center hosted Margarita Fajardo, Professor of History at Sarah Lawrence College, to discuss her new book ‘The World That Latin America Created: The United Nations Economic Commission for Latin America in the Development Era.’ In the book, Fajardo draws on various […]
By Rachel Thrasher On October 5, 2023, the Boston University Global Development Policy (GDP) Center hosted Jerome Roos, Fellow in International Political Economy at the London School of Economics & Political Science, to discuss the main ideas of his book, “Why Not Default? The Political Economy of Sovereign Debt.” The event, which was the third […]
As pandemic fears gripped investors in March 2020, foreign officials, US leveraged funds and US bond funds all dumped US bonds. This massive selling severely strained the working of the US bond market. In a new book chapter in Fault Lines after COVID-19: Global Economic Challenges and Opportunities, Robert N. McCauley discusses the response of […]
By Sayuri Kataoka and Samantha Igo Policymakers are facing a critical inflection point: the window to act on climate change is rapidly closing, climate shocks and overwhelming debt service payments threaten to undo decades of progress and stymie future investments in emerging markets and developing economies (EMDEs), while, concomitantly, the existing international financial system is […]