http://www.Imf.org/external/pubs/ft/fandd/index.htmThis quarterly magazine presents articles and book reviews on a wide variety of topics in international economics and finance, as well as economic development.Imf.Org RSS Feed GeneratorENhttp://www.imf.org/external/pubs/ft/fandd/2009/09/index.htmSeptember 2009: Recovery from the deepest recession in 60 years has started. But sustaining it will require delicate rebalancing acts, both within and across countries. IMF chief economist Olivier Blanchard writes in our lead article that the turnaround will not be simple. The crisis has left deep scars that will affect both supply and demand for many years to come. This issue of F&D also looks at what’s next in the global crisis and beyond. We look at ways of unwinding crisis support, the shape of growth worldwide after the crisis, ways of rebuilding the financial architecture, and the future of reserve currencies. Jeffrey Frankel examines what’s in and what’s out in global money, while a team from the IMF’s Research Department looks at what early warning systems can be expected to deliver in spotting future problems. In our regular People in Economics profile, we speak to Nobel prize winner Daniel Kahneman, whose work led to the creation of the field of behavioral economics, and our Picture This feature gives a timeline of how the Bank of England’s policy rate has fallen to its lowest level in 300 years. Back to Basics gives a primer on monetary policy, and Data Spotlight looks at how the crisis has affected the eastern European banking system.10 Sep 2009 08:52:26 ESThttp://www.imf.org/external/pubs/ft/fandd/2009/09/index.htmhttp://www.imf.org/external/pubs/ft/fandd/2009/09/blanchardindex.htmBy Olivier Blanchard - The IMF’s Chief Economist explained in a November 2008 lecture how a crisis that began in mortgage-backed securities turned into the worst recession since the 1930s.10 Sep 2009 08:52:16 ESThttp://www.imf.org/external/pubs/ft/fandd/2009/09/blanchardindex.htmhttp://www.imf.org/external/pubs/ft/fandd/2009/03/index.htmMarch 2009: 'Crisis Stalls Globalization: Reshaping the World Economy' examines the multiple facets of the recession--from the impact on individual economies to the effect on the external accounts of the world’s lenders and borrowers--and offers a variety of suggestions for supporting a recovery and averting future crises. Several IMF studies shed light on the depth of the crisis--including a survey of the sharp drop in trade finance, along with quantitative findings about the direct and indirect costs of the financial turbulence--and debate what is to be done from several angles, including the redesign of the regulatory framework and ways to plug large data gaps to prevent future crises and aid in the creation of early warning systems. Opinion pieces discuss the shifting boundaries between the state and markets, the agenda for financial sector reform, and the governance of global financial markets. The issue also includes a historical perspective to see when restructuring the global financial architecture actually succeeds. 'People in Economics' profiles Nouriel Roubini; 'Back to Basics' looks at what makes a recession; and 'Data Spotlight' examines Latin America's debt.30 Jun 2009 11:11:37 ESThttp://www.imf.org/external/pubs/ft/fandd/2009/03/index.htmhttp://www.imf.org/external/pubs/ft/fandd/2009/06/index.htmJune 2009: 'Crisis Shakes Europe: Stark Choices Ahead' looks at the harsh toll of the crisis on both Europe's advanced and emerging economies because of the global nature of the shocks that have hit both the financial sector and the real economy, and because of Europe's strong regional and global trade links. Marek Belka, Director of the IMF's European Department, writes in our lead article that beyond the immediate need for crisis management, Europe must revisit the frameworks on which the European Union is based because many have been revealed to be flawed or missing. But in many respects, one key European institution has proved its mettle—the euro. Both Charles Wyplosz and Barry Eichengreen discuss the future of the common currency. Also in this issue, IMF economists rank the current recession as the most severe in the postwar period; John Lipsky, the Fund's First Deputy Managing Director, examines the IMF's role in a postcrisis world; and Giovanni Dell'Ariccia assesses what we have learned about how to manage asset price booms to prevent the bust that has caused such havoc. In addition, we talk to Oxford economist Paul Collier about how to help low-income countries during the current crisis, while Donald Kaberuka, President of the African Development Bank, writes about how African policymakers can prepare to take advantage of a global economic recovery. 'Picture This' looks at what happens when aggressive monetary policy combats a crisis; 'Back to Basics' gives a primer on fiscal policy; and 'Data Spotlight' takes a look at the recent large swings in commodity prices.22 Jun 2009 11:51:38 ESThttp://www.imf.org/external/pubs/ft/fandd/2009/06/index.htmhttp://www.imf.org/external/pubs/ft/fandd/2008/12/index.htmSeptember 2008: Examines key issues facing low-income countries, including how they should respond to high oil and food prices. Some African economies are now successfully attracting international investors and are seen as a new tier of frontier emerging markets. Separate articles look at problems of aid effectiveness, aid predictability, and aid fragmentation. Other articles include an account by Eswar S. Prasad and Raghuram G. Rajan of their new report on financial sector reforms in India; Martin Ravallion and Dominique van de Walle draw lessons on reducing poverty from Vietnams agrarian reforms; Sanjeev Gupta and Shamsuddin Tareq make a strong case for sub-Saharan countries to mobilize their domestic revenue bases. In addition, Simon Willson profiles Beatrice Weder di Mauro, the first woman on Germanys Council of Economic Experts; and the outgoing IMF Chief Economic Simon Johnson talks about the new drivers of global growth emerging markets.09 Dec 2008 16:56:18 ESThttp://www.imf.org/external/pubs/ft/fandd/2008/12/index.htmhttp://www.imf.org/external/pubs/ft/fandd/2008/12/article_index.htmIndex of Articles in 200808 Dec 2008 17:27:22 ESThttp://www.imf.org/external/pubs/ft/fandd/2008/12/article_index.htmhttp://www.imf.org/external/pubs/ft/fandd/2008/09/index.htmSeptember 2008: Examines key issues facing low-income countries, including how they should respond to high oil and food prices. Some African economies are now successfully attracting international investors and are seen as a new tier of frontier emerging markets. Separate articles look at problems of aid effectiveness, aid predictability, and aid fragmentation. Other articles include an account by Eswar S. Prasad and Raghuram G. Rajan of their new report on financial sector reforms in India; Martin Ravallion and Dominique van de Walle draw lessons on reducing poverty from Vietnams agrarian reforms; Sanjeev Gupta and Shamsuddin Tareq make a strong case for sub-Saharan countries to mobilize their domestic revenue bases. In addition, Simon Willson profiles Beatrice Weder di Mauro, the first woman on Germanys Council of Economic Experts; and the outgoing IMF Chief Economic Simon Johnson talks about the new drivers of global growth emerging markets.25 Aug 2008 16:25:42 ESThttp://www.imf.org/external/pubs/ft/fandd/2008/09/index.htmhttp://www.imf.org/external/pubs/ft/fandd/2008/06/index.htmJune 2008: The June 2008 issue tackles the crisis in financial markets in industrial countries from a number of angles. Articles look at the origins of the crisis in the subprime mortgage market in the United States and track its spillover into other markets. Then authors examine what can be done to prevent future crises. Other articles look at bank capital adequacy rules and Basel II, whether emerging markets and industrial economies are decoupling or converging, capital flows to low-income countries, efforts to achieve the MDGs, and currency intervention. Back to Basics looks at over-the-counter (OTC) markets and the People in Economics column profiles Jacques Polak. Picture This is on the digital divide.26 Jun 2008 15:47:25 ESThttp://www.imf.org/external/pubs/ft/fandd/2008/06/index.htmhttp://www.imf.org/external/pubs/ft/fandd/2008/03/index.htm'Commodity Boom: How Long Will It Last?' asks how economies will fare after the record-high prices of key raw materials posted in recent months, which build on dramatic increases from their lows of 2000. The lead article warns that the impact on headline inflation levels might persist throughout 2008, even without further commodity price hikes. It urges policymakers to ensure efficient functioning of market forces at the global level, and to move swiftly to protect the poorest. Another article addresses the effects of climate change on agriculture, warning that farm production will fall dramatically—especially in developing countries—if steps are not taken to curb carbon emissions. Other articles on this theme argue that policies to reduce greenhouse gas emissions need not hobble economies, and that financial markets can help address climate change. 'People in Economics' profiles John Taylor; 'Picture This' says the global energy system is on an increasingly unsustainable path; 'Country Focus' spotlights South Africa; and 'Straight Talk' examines early warnings provided by credit derivatives. Also in this issue, articles examine China's increasing economic engagement with Africa, and the outsourcing of service jobs to other countries.08 Apr 2008 08:44:57 ESThttp://www.imf.org/external/pubs/ft/fandd/2008/03/index.htmhttp://www.imf.org/external/pubs/ft/fandd/2007/12/index.htm'Global Governance: Who's in Charge?' examines the challenges—financial, health, environmental, and trade—facing the international community in the 21st century and asks whether today';s system of global governance is equipped to cope with them. The lead article asserts that the system that served as a model for much of the 20th century is out of date, and it explores what needs to be done to strengthen it. Other articles on this theme look at the recent U.S. subprime market crisis, the differences between financial crises of the 19th and 20th centuries and what future crises will look like, the need for a stronger system of multilateral trade, and how global health threats can be handled. 'People in Economics' profiles Michael Kremer; 'Picture This' describes the changing aid landscape; 'Country Focus' spotlights the United Arab Emirates; and 'Straight Talk' examines the impact of high food prices. Also in this issue, articles examine development in Africa, and 'backcasting' data in Latin America.05 Dec 2007 14:35:26 ESThttp://www.imf.org/external/pubs/ft/fandd/2007/12/index.htm