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Kevin P. Gallagher

Kevin P. Gallagher

12 commentaries

Kevin P. Gallagher is Professor of Global Development Policy at Boston University and Director of the Boston University Global Development Policy Center.

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  1. The IMF Needs to Mitigate Climate Transition Risk
    xhe1_ AKSARA M. RAHMANAFP via Getty Images_indonesiacoal Aksara M. Rahman/AFP via Getty Images

    The IMF Needs to Mitigate Climate Transition Risk

    Apr 11, 2022 Xiaobei He, et al. call for more coordination to prevent policies in one country from destabilizing economies elsewhere.

  2. The IMF's Unfinished Business
    stiglitz301_OLIVIER DOULIERYAFP via Getty Images_imf OLIVIER DOULIERYAFP via Getty Images

    The IMF's Unfinished Business

    Mar 7, 2022 Joseph E. Stiglitz & Kevin P. Gallagher urge the Fund to greenlight members' use of capital controls as a tool to preserve financial stability.

  3. China Takes the Lead in Development Finance
    gallagher10_Zhang PengLightRocket via Getty Images_china development bank Zhang Peng/LightRocket via Getty Images

    China Takes the Lead in Development Finance

    Dec 9, 2020 Kevin P. Gallagher & Rebecca Ray highlight the potential benefits and risks of the country's massive increase in lending to poorer economies.

  4. The G20 Debt Plan Does Not Go Far Enough
    akhtar2_ Artur WidakNurPhoto via Getty Images_covid business closed Artur Widak/NurPhoto via Getty Images
    Free to read

    The G20 Debt Plan Does Not Go Far Enough

    Nov 24, 2020 Shamshad Akhtar, et al. propose a comprehensive new initiative aimed at fostering an inclusive green recovery worldwide.

  5. The Need for Debt-for-Climate Swaps
    akhtar1_krisanapong detraphiphatGetty Images_moneyplantgrowthsustainability Krisanapong Detraphiphat/Getty Images

    The Need for Debt-for-Climate Swaps

    Aug 17, 2020 Shamshad Akhtar, et al. call for a new global facility that would combine debt relief with investments in sustainability.

  1. pisaniferry143_FABRICE COFFRINIAFP via Getty Images_johnkerrychina Fabrice Coffrini/AFP via Getty Images
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    Can “Cooperative Rivalry” Work?

    Jean Pisani-Ferry worries that America and China will be unable to find common ground on preserving the global commons.
  2. rajan82_BRENDAN SMIALOWSKIPOOLAFP via Getty Images_jeromepowell Brendan Smialowski/Pool/AFP via Getty Images
    5

    The Fed’s Role in the Bank Failures

    Raghuram G. Rajan & Viral V. Acharya

    There are four reasons to worry that the latest banking crisis could be systemic. For many years, periodic bouts of quantitative easing have expanded bank balance sheets and stuffed them with more uninsured deposits, making the banks increasingly vulnerable to changes in monetary policy and financial conditions.

     show how the US central bank's liquidity policies created the conditions for runs on uninsured deposits.
  3. velasco135_Nancy LaneMediaNews GroupBoston Herald via Getty Images_bank run Nancy Lane/MediaNews Group/Boston Herald via Getty Images
    1

    Policymakers Keep Solving the Wrong Banking Problem

    Andrés Velasco

    When a bank fails, the first response by policymakers and the public is to blame risk-loving speculators, greedy investors, or regulators asleep at the wheel. But quenching our thirst for moral adjudication is a poor basis for policy, because the truth is both simpler and more troubling.

     argues that recent market turmoil has revealed that the sector’s main vulnerability is unavoidable.
  4. ito25_Chip SomodevillaGetty Images_yellen Chip Somodevilla/Getty Images
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    An Insolvency Iceberg?

    Takatoshi Ito considers the risk that other banks will experience liquidity problems as interest rates continue to rise.
  5. skidelsky185_Wiktor SzymanowiczAnadolu Agency via Getty Images_jeremyhunt Wiktor Szymanowicz/Anadolu Agency via Getty Images
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    Can Governments Still Steer the Economy?

    Robert Skidelsky explains why international finance and geopolitics make it harder to influence major performance indicators.
  6. sinn109_ DANIEL ROLANDAFP via Getty Images_financial crisis DANIEL ROLAND/AFP via Getty Images
    3

    Accounting for Casino Capitalism

    Hans-Werner Sinn draws parallels between recent bank collapses and the late-nineteenth-century “founders’ crash.”
  7. zadek25_ FABRICE COFFRINIAFP via Getty Images_creditsuisseUBS Fabrice Coffrini/AFP via Getty Images
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    Who Should Be Bailed Out Next?

    Simon Zadek urges rich-country governments to aid debt-distressed poor countries as urgently as they have their failing banks.
  8. callegari1_Getty Images_crowd population Getty Images
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    The Population Boon

    Beniamino Callegari & Per Espen Stoknes correct popular myths about the threat of demographic growth to sustainable development.
  9. songwe8_NIPAH DENNISAFP via Getty Images_ghana NIPAH DENNIS/AFP via Getty Images
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    Where Is the Global South’s Rescue Brigade?

    Vera Songwe decries the unequal responses to liquidity crises in Silicon Valley compared to the developing world.

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