By Xia Li Facilities across the globe are facing climate change exposure or physical climate risks, such as sea-level rise, heat stress, wildfire and floods. In 2021, floods in Germany and China disrupted the global shipping industry. Heat stress caused substantial labor productivity loss in countries like Australia, while rising sea levels affected infrastructure investments […]
Physical climate risks, defined as risks arising from the physical effects of climate change, increasingly affect facilities worldwide across industries including foreign assets, or foreign direct investment (FDI). Despite the increasing impact of physical climate risks on firms and facilities globally, little is known about how multinational companies incorporate such risks into their overseas investment […]
As the world comes to grips with the devastating economic and public health consequences of COVID-19, Southern-led alternative institutions for finance and development have taken on more importance than ever. The new book, “South-South Regional Financial Arrangements: Collaboration Towards Resilience,” from William N. Kring and Kevin P. Gallagher, in partnership with Diana Barrowclough and Richard […]
The onset of the COVID-19 pandemic triggered a sudden reversal in global capital flows, compounding the fallout from the pandemic for emerging market and developing economies. Between mid-January and mid-March 2020 alone, the Organization for Economic Co-operation and Development (OECD) estimated outflows from these countries at $103 billion. The consequences of such sudden stops or […]
By Samantha Igo After two years of severe economic stress from the COVID-19 pandemic, economies are just beginning to recover as international leaders make use of a variety of policy tools. However, capital flow management measures (CFMs), a key tool that could support economic recovery, remain out of reach for many. In 2012, the International […]
The COVID-19 pandemic has resulted in the most serious global health crisis of the past century. For many African countries in particular, the pandemic has also had severe social and economic impacts. Already fragile welfare systems have been threatened or overwhelmed. In addition, the pandemic has adversely affected African intraregional and international trade, investment flows […]
In just over a decade, China’s two major policy banks provided more financing for overseas coal-fired power plant expansion than any other public financier in the world economy. In a new journal article published in the Journal of East Asian Studies, Bo Kong and Kevin P. Gallagher examine the political economy of Chinese overseas development finance […]
In 2018, overseas energy financing by China’s two global policy banks—the China Development Bank (CDB) and the Export-Import Bank of China (CHEXIM) —was at its lowest level since 2013. These two banks provided just $8.62 billion to foreign countries in financing for energy sector activity overseas in 2018, down 69 percent from the $28.04 billion […]
In 2019, overseas energy financing by China’s two policy banks with global operations —the China Development Bank (CDB) and the Export-Import Bank of China (CHEXIM) —was at its lowest level since 2008. In 2019, China’s policy banks issued only three loans for energy projects totaling just $3.2 billion, down 71 percent from the $11.08 billion […]
There is now a consensus that climate change and climate change policy pose ‘macro-critical risks’ to national economies and the global economy as well. The frequency of climate-related disasters has increased by an order of five over 50 years, according to the World Meteorological Organization. Furthermore, transition risks emerge from a late and uncoordinated introduction […]