Global Economic Governance
Are China's shadow banks going to bring the economy down?
There has been much fretting about China's growth over the past five years. One special focus for hand-wringing has been the Chinese financial system and its non-banking component…
UK budget: A test for 'expansionary austerity'
The 2008 global financial crisis provided a rare test-bed for macroeconomics — an opportunity to sort out some old controversies. One issue dominated the debate during the…
China and the AIIB: Towards a new rules-based order?
Australia's likely decision to become a founding member of the Asian Infrastructure Investment Bank (AIIB) marks the loosening of America's 70 year command over global governance…
The Asian Infrastructure Investment Bank and the rise of regionalism
Should Australia join the Chinese-sponsored Asian Infrastructure Investment Bank (AIIB)? As often happens in international affairs, the answer is not found in the technical pros…
Negative interest rates: We are flying blind
We live in strange economic times. Depositors in Denmark are paying interest to their banks and borrowers are being paid when they take out a loan. The basic principles of finance…
The G20 can help women enter the global economy
International Women's Day was celebrated yesterday, and there is cause for optimism with regards to progress in women's rights and important commitments undertaken to reduce…
Ukraine: IMF sent in where others fear to tread
This week the IMF Executive Board will consider a proposal to provide Ukraine with a US$17.5 billion Extended Fund Facility. The IMF Managing Director explains that this program …
Will the Trans-Pacific Partnership be a good deal for Australia?
The Trans-Pacific Partnership (TPP) is close to the make-or-break stage. It will either get US Congressional blessing soon or lose momentum and slip from the agenda. So it is…
Quantitative easing was not a 'beggar-thy-neighbour' policy
It seems my colleague Stephen Grenville is somewhat sceptical of quantitative easing (QE). He says 'QE might have been an admirable second-best policy, but it was still "beggar…
The 'beggar-thy-neighbour' currency wars
Leon Berkelmans is in good company in defending the policy actions which have come to be described as 'currency wars'.
Ben Bernanke gave the same defence of the US Fed's actions…