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GLOBAL PERSPECTIVES

The Frontiers of Growth

Have Russia and China proved that authoritarianism and capitalism can go hand-in-hand? Can legality be imported? Are some countries fated to race ahead while others lag? Does culture shape economics? Is unrestricted foreign investment a help or a hindrance to countries seeking to escape from poverty?

Understanding the ingredients of what makes economies grow is one of the most vexing tasks facing policymakers and economists. Across the globe, growth is universally seen as the elixir for the alleviation of human misery. Improved growth rates are also critical to the future of the developed countries, for the cost of backwardness is vast and rises with every new technological advance.

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  • Rebuilding Haiti From Davos

    Kanayo F Nwanze Series: Frontiers of Growth
    2010-01-25
    When the captains of business and industry meet in Davos for the World Economic Forum this month, the devastation caused by the recent earthquake in Haiti will be near the top of their agenda. It should be, for there is much they can do to help.... read
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  • Is Bankers’ Pay Really the Root of Financial Evil?

    Steven N. Kaplan Series: Frontiers of Growth
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    cartoon Compensation practices at financial firms have been accused of being a primary cause of the recent global financial crisis, and restricting bankers’ pay is said to be the answer. But, before instituting such invasive regulation, we should examine more closely whether past compensation structures really were at the heart of our recent problems.... read
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  • Rethinking Poverty Reduction

    Jomo Kwame Sundaram Series: Frontiers of Growth
    2010-01-15
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  • Breaking the Bankers?

    Ronald Gilson Series: Frontiers of Growth
    2009-12-22
    The plot of the morality play set in motion by the United Kingdom’s announcement of a 50% tax on bankers’ bonuses has now taken form. And it is a play that holds an important lesson about how politicians are managing – or mismanaging – demands for financial reform.... read
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    Edmund S. Phelps Series: Frontiers of Growth
    2009-12-08
    cartoon BERLIN – The near global financial meltdown and ensuing downturns left the Anglo-Saxon nations pondering what they should do both to set their economies on a path toward recovery and to avoid a similar crisis in the future. Some recommendations by members of Columbia University’s Center on Capitalism and Society were sent to last April’s G20 meeting. To create more jobs in the economy, I proposed that governments establish a class of banks that would acquire the lost art of financing investment projects in the business sector – the type of financing the old “merchant” banks did so well a century ago. I also renewed my support for a subsidy to companies for their ongoing employment of low-wage workers. (Singapore adopted this idea with enviable results.)... read
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    Sylvester Eijffinger and Edin Mujagic Series: Frontiers of Growth
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    Lorenzo Bini Smaghi Series: Frontiers of Growth
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    Lars G. Josefsson, Jamshyd N. Godrej, Peter A. Darbee and Steve Holliday Series: Frontiers of Growth
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    Thomas I. Palley Series: Frontiers of Growth
    2009-10-30
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