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Finance & Development, March 2015, Vol. 52, No. 1 Çağlar Özden PDF version Immigrants do more good than harm when they enter a country’s job market John, a Wall Street hedge fund manager, and Juan, a Nicaraguan construction worker, have an important trait in common: they are both global arbitrageurs. John looks for small differences … Read more

Finance & Development, March 2015, Vol. 52, No. 1 Prakash Loungani PDF version The global economy is in slow recovery from peak unemployment thanks to governments’ vigorous policy responses The onset of the Great Recession in 2007 led to job losses around the world not seen since the Great Depression of the 1930s. By 2010, … Read more

Finance & Development, March 2015, Vol. 52, No. 1 Laura Wallace PDF version Raghuram Rajan predicting the crisis Laura Wallace profiles Raghuram Rajan, the prescient finance economist now steering India’s central bank Raghuram Rajan, now the head of India’s central bank, was the IMF’s youngest, and first nonwestern, chief economist. But when Rajan, then 40, … Read more

Finance and Development, June 2015, vol. 52, no. 2 Simon Wilson PDF version South Africa pays tribute to the country’s diversity in its latest currency design Countries with more than one official language often use public signs as an affirmation of the status and use of national mother tongues. Thus, traffic signs, official publications, national … Read more

Download PDF In rebuilding after COVID-19, authorities must invest in innovative technology to overcome obstacles to inclusive development. Africa has enjoyed strong economic growth for most of the 21st century, mainly due to strong global demand for commodities. But the “Africa Rising” narrative that accompanied this growth is primarily a GDP growth story, which is … Read more