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Curated by Project Syndicate

Michael Spence on Reinventing Growth

13 commentaries

Today's seismic shifts in the global economy have left advanced and developing countries alike struggling to restore – or sustain – economic growth. In these commentaries, written exclusively for Project Syndicate, Nobel laureate Michael Spence examines the policy challenges posed by structural change, and offers proposals aimed at smoothing countries' adjustment.

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  1. op_schauble6_YANNSCHREIBERAFPviaGettyImages_ecbcovid Yann Schreiber/AFP via Getty Images

    Are We Risking a Debt Pandemic?

    Wolfgang Schäuble

    Even in a crisis as grave as the COVID-19 pandemic, money is not a panacea, and borrowing makes sense only if it is carried out prudently and reasonably. Otherwise, states will jeopardize their long-term financial flexibility, price stability, and competitiveness.

    worries that monetization of pandemic-related government borrowing will boost inflation and erode competitiveness.
    7

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