Climate finance: poorer countries need it as a matter of urgency
Climate change will shrink the economies of rich, poor, hot and cold countries alike, and will make it more difficult and more expensive to raise the finance needed to decarbonise in the future. This column, which originally appeared on The Conversation website, argues that the cost of early action is far cheaper than the cost of delayed action. Mobilising climate finance is a win-win for both the developed and developing economies.
Rising temperatures, melting ratings
Enthusiasm for ‘greening the financial system’ is welcome, but does the explosion of ‘green’ finance indicators reflect the science? This column reports research that uses artificial intelligence to construct the world’s first ‘climate smart’ sovereign credit rating. The results warn of climate-driven downgrades as early as 2030.
Economic consequences of Covid-19: a counterfactual multi-country analysis
The Covid-19 pandemic poses formidable challenges to policy-makers and to the empirical analysis of its effects within the interconnected global economy. This column quantifies the impact along several dimensions, showing that the global recession will be long lasting, with no countries escaping regardless of their mitigation strategies. The findings call for a coordinated multi-country policy response.
When is debt a drag on economic growth?
Is there a tipping point for public indebtedness beyond which growth drops off significantly; and does a build-up of public debt slow the economy in the long run? This column reports the results of an empirical analysis of these questions for 40 advanced and developing economies over nearly half a century.
Implications of the current low oil prices for MENA countries
The current low oil price environment, in part driven by the US shale oil revolution, has important macroeconomic implications for the Middle East and North Africa (MENA). This column reports research evidence on its likely impact on both oil-exporting and oil-importing countries in the region.