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 […]
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 […]
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 […]
By Katie Gallogly-Swan On Thursday, January 20, the Boston University Global Development Policy (GDP) Center and the United Nations Conference on Trade and Development (UNCTAD) co-hosted a webinar book launch of ‘The Case for a New Bretton Woods’, authored by GDP Center Director, Kevin P. Gallagher, and Richard Kozul-Wright, Director of UNCTAD’s Globalization and Development […]
Amid the devastation of World War ll, the United Nations Monetary and Financial Conference convened in Bretton Woods, New Hampshire with the goal of designing an interdependent economic architecture for mutual prosperity. Based on a set of common principles of peace, equity and employment, the International Monetary Fund (IMF) and precursors to the World Bank […]
In offering loans to developing countries in exchange for policy reforms, the International Monetary Fund (IMF) typically sets the fiscal parameters within which development occurs. Among the drivers of socio-economic development, an important, yet insufficiently understood, international-level determinant is the spread of IMF austerity policies to developing countries. A new journal article in the Journal for Globalization […]
The International Monetary Fund (IMF) has been tasked with quickly devising a climate change strategy that helps its members meet collective climate change and development goals while maintaining financial stability. A new journal article in Climate Policy by Luma Ramos, Corinne Stephenson, Irene Monasterolo and Kevin P. Gallagher develops an analytical framework of the ‘macro-critical’ nature […]
The next decade will be a critical period for global sustainable development. China’s Belt and Road Initiative (BRI) promises to help countries reach their national goals for economic growth, trade and development, but widespread concerns remain over how this boom in Chinese foreign direct investment (FDI) will impact social-ecological systems. A new journal article co-authored […]
In the wake of the global financial crisis, economic research has shown that regulating cross-border financial flows helped prevent and mitigate financial crises. This research played a role in the political economy of the post-crisis governance architecture where the International Monetary Fund (IMF), Group of Twenty (G20) and other international bodies recommitted policy frameworks to […]
When it comes to the provision of global public goods, the two largest and most systemically connected countries in the world must work in parallel at minimum and together at optimum in order to achieve and maintain a more equal, stable and sustainable global economy. This is not to ignore the fact that the two […]