In March 2022, the Brazilian Development Association (Associação Brasileira de Desenvolvimento – ABDE) launched the ABDE 2030 Sustainable Development Plan with public policy proposals to catalyze $380 billion in investments by 32 institutions of the National Development System (Sistema Nacional de Fomento – SNF) for the implementation of the UN 2030 Sustainable Development Goals (SDGs). […]
When the euro arrived in 1999, London’s established dollar business conferred an advantage in intermediating the new number two global currency. The dollar business dominates London’s international financial business, as it has since the 1960s, but London’s share in the global euro business tended to exceed its global dollar share. The Brexit vote in 2016 […]
By Yaechan Lee Financial globalization under the dollar-based structure of the international monetary system is increasingly demanding more proactive policy actions from central banks to prepare against potential capital outflow as investors make the dash for the dollar during financial crises. During the COVID-19 crisis, research finds that even the central banks of developing economies […]
Financial liberalization has noticeably reduced the role of the state in effectively influencing the economy in post-developmental states, yet many studies have found that the legacies of the developmental model continue to influence the policies, institutions and socioeconomic challenges that are faced by the states that previously adopted the model. These studies, however, do not […]
By Lara Merling This November, the Group of Twenty (G20) Leaders’ Summit in Bali, Indonesia was held in parallel to the 27th United Nations Climate Change Conference (COP27) in the Egyptian resort town of Sharm El-Sheikh. World leaders, researchers and activists met amid a charged and challenging global context, from Russia’s war in Ukraine to […]
South Africa is one of the most unequal countries in the world, with clear race and gender factors seeming to play a major and increasing role in soaring wealth inequality and income inequality. Upon a closer look at inequality, there is a strong relationship between the size distribution of households and sectoral inequality. The link […]
By Rachel Thrasher A controversial legal process known as investor-state dispute settlement (ISDS) threatens to hamper the ability of governments to mobilize finance for ambitious climate action and a just transition. When assets are protected by international investment agreements (IIAs) with ISDS, private investors in the fossil fuel sector can bring legal claims against countries […]
The World Trade Organization (WTO) came into existence in 1995, replacing the 50-year-old trade regime known as the General Agreement on Tariffs and Trade (GATT) that had governed trade among capitalist countries in the geopolitical context of the Cold War. The new regime was emblematic of a moment in time, when global economic integration was […]
A controversial legal process known as investor-state dispute settlements (ISDS) is making it difficult for governments to mobilize finance for ambitious climate action. When assets are protected by international investment treaties, like the Energy Charter Treaty, legal claims can be brought against countries by investors who feel they are negatively impacted by government policies. For […]
Embedded in the foreign exchange (FX) market is huge, unseen dollar borrowing. In an FX swap, for instance, a Dutch pension fund or Japanese insurer borrows dollars and lends euro or yen in the “spot leg”, and later repays the dollars and receives euro or yen in the “forward leg.” Thus, an FX swap, along […]