WHAT NEXT FOR EMERGING MARKETS?

Is the Emerging World Still Emerging?

Jim O’Neill

Two decades on, the BRICs promise lingers

End of the Line

Rabah Arezki and Per Magnus Nysveen

A looming oil price super cycle will likely be the last

Global Clout, Domestic Fragility

David Dollar, Yiping Huang, and Yang Yao

China’s long-term success will depend primarily on addressing its internal challenges

Inequality in the Time of COVID-19

Francisco H. G. Ferreira

All metrics are not equal when it comes to assessing the pandemic’s unequal effect

A COVID-19 Tantrum?

Şebnem Kalemli-Özcan

The Federal Reserve’s post-pandemic stance will expose vulnerabilities in emerging markets with high private external debt

Emerging Markets in Flux

Mahmood Pradhan chats with Richard House and David Lubin on the outlook for this group of countries

From Stream to Flood

Adam Behsudi

Streaming video offers emerging markets an avenue for content at home and around the world

ALSO IN THIS ISSUE

Monetary Meld

Eswar Prasad and Vera Songwe

A currency union encompassing all of West Africa promises benefits but faces a multitude of obstacles

Inequality Interest

Nina Budina, Chiara Fratto, Deniz Igan, and Hélène Poirson

Central banks should better communicate monetary policy’s distributional effects

Citizenship for Sale

Francisca Fernando, Jonathan Pampolina, and Robin Sykes

Programs that offer passports in return for investment have financial integrity risks that must be managed

What We Owe Each Other

Minouche Shafik

We need a new social contract fit for the 21st century

Military Spending in the Post-Pandemic Era

Benedict Clements, Sanjeev Gupta, and Saida Khamidova

Countries’ efforts to secure a more peaceful world could have a positive economic effect

Editor's Letter

The Next Move

Gita Bhatt

We focus this issue on the road ahead for emerging markets, a label frequently applied to economies in the middle—neither advanced nor low-income.

In the Trenches

Putting People First

Analisa Bala

South Africa’s longest-serving finance minister, Trevor Manuel, reflects on the country’s lost decade

Picture This

Jobs Dilemma

Sergi Lanau

Creating sufficient employment in emerging market economies will require a big boost to economic growth

Book Reviews

The Spirit of Green: The Economics of Collisions and Contagions in a Crowded World, William D. Nordhaus

Rebellion, Rascals, and Revenue: Tax Follies and Wisdom through the Ages, Michael Keen and Joel Slemrod

The Profit Paradox: How Thriving Firms Threaten the Future of Work , Jan Eeckhout