Economics

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Snapshot,
Diane Coyle

The economy’s character -- and what citizens value -- is changing, and that the way we measure the economy will have to keep up. In particular, economists will have to grapple with three issues: complexity, driven by innovation; the increasing share in advanced economies of intangibles, such as online activities with no price; and sustainability.

Snapshot,
Bhaskar Chakravorti, Jianwei Dong, Kate Fedosova

European corporations have an important competitive advantage in many emerging markets: a legacy of colonialism that provides cultural, linguistic, and political ties. The fact that the United States has no such legacy is a liability as U.S. firms try to catch up to their European competitors and seize new opportunities in the world’s fastest-growing economies.

Comment, 2014
Jan-Werner Müller

Ten years ago, eight eastern European states joined the European Union, seemingly locking them onto an upward developmental trajectory. But now this supposed triumph is in serious doubt, as most those countries are experiencing profound political crises.

Comment, 2014
Jake Kendall and Rodger Voorhies

Most of the world’s poor lack a basic savings account, but the humble cell phone may change all that. Thanks to mobile finance, banks can now offer critical services to more people and in more places than ever before, helping them escape poverty for good.

Interview, 2014
Ngozi Okonjo-Iweala

Nigeria's finance minister speaks with Foreign Affairs about the developing world's role in international financial institutions, the fight against corruption, and her mother's politically motivated kidnapping.

Essay, 2014
Zachary Karabell

The notion that a few simple numbers such as GDP or inflation can capture today’s multifaceted economic systems is a myth worth abandoning. Instead, economists should ask specific new questions and embrace new ways of answering them.

Snapshot,
Piotr Zalewski

Many market watchers were relieved when Turkey's central bank recently raised its lending rate. Turkey's prime minister was not one of them.

Letter From,
Alexander Wooley

The Tanzanian government hopes to turn the inefficient port of Dar es Salaam into a major regional trade hub, catapulting Tanzania into the global ranks of middle-income countries. But traveling the traffic-clogged roads that take the port's imports to the rest of the country, it is clear that the government has a lot of work to do.

Snapshot,
Eduardo J. Gómez

By some measures, the BRICS have squandered their years of plenty. Even as they poured money into building dynamic economies and gaining global power, they neglected to invest in their own populations. Another group of nations -- Mexico, Colombia, and Singapore -- has struck a better balance and, as a result, makes a better model than the BRICS for other emerging economies.

Snapshot,
Yuri Takhteyev and Mariana Mota Prado

Bitcoin presents regulating agencies with difficult questions: Should they try to control it? Can they? If that sounds familiar, it should. The world faced these same questions in the early days of the Internet. Whether Bitcoin is more like AOL or Google, of course, is yet to be seen. Still, how governments choose to respond to it could change global finance for good.

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