Tag: kevin p. gallagher

Chart of the Week: Shrinking Policy Space in International Trade Treaties

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 […]

Global Risks and Investment Uncertainty: Chinese Global Energy Finance in 2018

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 […]

Climate Change and IMF Debt Sustainability Analysis

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 […]

Webinar Summary: The Case for a New Bretton Woods

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 […]

The Case for a New Bretton Woods

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 […]

Poverty, Inequality and the IMF: How Austerity Hurts the Poor and Widens Inequality

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 […]

Climate Risk and IMF Surveillance Policy: A Baseline Analysis

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 […]

Policy Space for Capital Flow Management: An Empirical Investigation

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 […]