Wednesday, 15 January 2014
"The delay has clearly ‘broken’ the implicit contract underpinning the G20 spirit or contract whereby advanced economies would support a greater voice for emerging economies in global governance arrangements and the latter would take more responsibility as full-fledged stakeholders of the global economy,” says Domenico Lombardi, Director of CIGI's Global Economy program, commenting on a US budget package that left out funds for the IMF.
Monday, 6 January 2014
“This visit is a sign that Europe is still under close monitoring by the administration as it continues to pose a systemic threat to the world economy,” says Domenico Lombardi, Director of CIGI's Global Economy Program, commenting on U.S. Treasury Secretary Jacob J. Lew's meeting with European officials.
Friday, 3 January 2014
From time to time, calls are made for a “new” Bretton Woods, including in the dark days of late 2008, when the global economy was thought be perched perilously on the precipice of an economic abyss. At the time, it wasn’t entirely clear to me what, exactly, was being proposed. In the event, the crisis response mobilized by the G20 in late 2008 and early 2009 succeeded in stopping the economic dégringolade and, seemingly, refuted Hegel. But, while the global economy was stabilized by 2010, for most major advanced economics, the subsequent recovery has been tepid. As Brad DeLong estimates, absent measures to restore U.S. growth to its pre-crisis rate, the potential output lost as a result of the “Great Stagnation” could well exceed that of the Great Depression.
Two Canadians among 23 recipients of $2.1M in research grants from CIGI and Institute for New Economic Thinking
Monday, 23 December 2013
Two Canadians are among 23 recipients of a total of $2.1 million in grants for research projects, announced by the Centre for International Governance Innovation (CIGI) and the Institute for New Economic Thinking (the Institute).
Wednesday, 11 December 2013
This week podcast co-host Andrew Thompson is joined by Peter Blair Henry, Dean of the NYU Stern School of Business, who shares insights from his new book Turnaround: Third World Lessons for First World Growth. Centering on three key principles — discipline, clarity and trust — the discussion considers approaches to policy reform that support global economic growth and prosperity.
Wednesday, 11 December 2013
Just as parents can learn from their children, Peter Blair Henry believes the world’s advanced economies should show some humility and take a few lessons from some of the third-world countries they once lectured on the fundamentals of economic growth. Drawing from his most recent book, Turnaround: Third World Lessons for First World Growth (Basic Books, 2013), Henry said in his public lecture at CIGI that the world’s “aging economies,” such as Canada, the US and much of Western Europe, need to “adopt or re-learn” three main principles of growth they once espoused to the third world: discipline, clarity and trust.
Monday, 9 December 2013
"Instead of winning international public criticism of China’s currency policies, Washington had to beg Beijing to keep buying U.S. debt to help stabilize markets," writes WSJ blogger Ian Talley, in his overview of CIGI Senior Fellow Paul Blustein's book Off Balance.
Friday, 6 December 2013
Ok, so I may be hyper sensitive to this stuff, but is seems to me that, over the past six months or so, increasing attention has focused on the pernicious effects of uncertainty on global economic prospects. To be sure, this isn't entirely surprising given the game of chicken played out at the edge of the U.S. fiscal cliff just a couple of months ago and the threat of deflation that looms menacingly over the euro zone. But still, the notion that there is an unusual degree of uncertainty has seemingly gained traction; that — dare I say it — we live in a New Age of Uncertainty.
Tuesday, 26 November 2013
“The (IMF) has been bruised and abused. But in the end there is no trade-off between austerity and debt restructuring — you have to do both,” says Senior Fellow Susan Schadler, citing conclusions from her recent CIGI paper.
Wednesday, 20 November 2013
In analyzing the financial crisis five years down the road, CIGI Research Fellow David Kempthorne notes that "the line between legality and morality [was] one of the key issues." This week, co-host David Welch chats with Kempthorne on key structural failures that lead to the 2008 financial crisis and the subsequent reaction from the international financial regulatory system.