European Parliament Library

Finance & Development, September 2012

Label
Finance & Development, September 2012
Language
eng
Abstract
Technology is generating a global convergence. A "big bang" of information—and education as well—is improving human lives. And with global interconnectivity growing by leaps and bounds, we are all witness to a rapid spread of information and ideas. But, as we have seen from the prolonged global financial crisis, our interconnectedness carries grave risks as well as benefits. This issue of F&D looks at different aspects of interconnectedness, globally and in Asia. • Brookings VP Kemal Devis presents the three fundamental trends in the global economy affecting the balance between east and west in "World Economy: Convergence, Interdependence, and Divergence." • In "Financial Regionalism," Akihiro Kawai and Domenico Lombardi tell us how regional arrangements are helping global financial stability. • In "Migration Meets Slow Growth," Migration Policy Institute president Demetrios Papademetriou examines how the global movement of workers will change as the economic crisis continues in advanced economies. • "Caught in the Web" explains new ways of looking at financial interconnections in a globalized world. • IMF Managing Director Christine Lagarde provides her take on the benefits of integration and the risks of fragmentation in "Straight Talk." Also in this issue, we take a closer look at interconnectedness across Asia as we explore how trade across the region is affected by China's falling trade surplus, how India and China might learn from each others' success, and what Myanmar's reintegration into the global economy means for its people. F&D's People in Economics series profiles Justin Yifu Lin, first developing country World Bank economist, and the Back to Basics series explains the origins and evolution of money
resource.governmentPublication
international or intergovernmental publication
Literary Form
non fiction
Main title
Finance & Development, September 2012
Nature of contents
dictionaries
Series statement
Finance & Development
Table Of Contents
Cover; CONTENTS; DEPARTMENTS; In Brief; People in Economics; The Man with the Patience to Cook a Stone: F&D profiles Justin Yifu Lin, first developing country World Bank chief economist; FEATURES; GLOBAL INTERCONNECTIVITY; The Global Village Has Arrived: Interconnectivity is growing by leaps and bounds; World Economy: Convergence, Interdependence, and Divergence: Growth in emerging market and developing economies is less dependent on advanced economies over the long run, but in the short run they dance together; Charts; Growth and cycles; Sustained difference; Cyclical interdependenceCaught in the Web: Network analysis looks at financial connections in a globalized world and the risks they poseIn the center; Core flows; Spreading to the periphery; Migration Meets Slow Growth: The global movement of workers will change as the economic crisis continues in advanced economies; Heavy U.S. unemployment; Youth at risk; Immigrant influx; Pressure on workers; Financial Regionalism: Regional arrangements are reshaping the international financial architecture and helping global financial stabilityStraight Talk: Fragmentation Risks: The benefits of globalization must be preserved by enhancing the international structures that ensure financial stabilityINTERCONNECTED ASIA; Sino-Spending: China must boost household consumption even further to make its growth more inclusive; Tallest tower; Corner player; Low and lower; Save it; Just behind; A Change in Focus: China's external surplus is dwindling, with repercussions for its Asian trading partners; Shrinking imbalance; Terms-of-trade shift; Shifting focusThe Tiger and the Dragon: India and China can learn a lot from each other as they advance in their development journeysBack on the Map: Myanmar's reintegration into the global economy promises a better future for its people; Picture This; Access to Banking Services: New database shows gaps in how people save, borrow, make payments, and manage risk; ALSO IN THIS ISSUE; Taxing Finance: Many European policymakers are warming to the idea of broadening taxation of the financial sector; Fueling Risk: Energy subsidies in low- and middle-income countries can take a big toll on their fiscal healthAbsorbing increasesBig budget hit; It All Falls into Place: Piecing together "missing links" in a jigsaw puzzle of data sets helps shed light on the global financial crisis; Back to Basics; What Is Money?: Without it, modern economies could not function; Book Reviews; Reforming the Unreformable: Lessons from Nigeria; Russia: A Long View; Double Entry: How the Merchants of Venice Created Modern Finance; Data Spotlight; Tracking Use of Fiscal Rules: Numerical limits have emerged as a key response to the fiscal legacy of the crisis
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