Category: International Economy, The

Merchants of death: in a booming business, small-arms brokers make a killing John A. Kruger Late one balmy evening in August 2000, Italian police, acting on an anonymous tip, burst through the door of room 341 at the Hotel Europa outside Milan. Inside they found Leonid Minin, a notorious Ukrainian arms dealer, partying with prostitutes–accounts […]

Is the Japanese recovery for real? After all, for more than a decade, Japan’s economy has experienced a series of false starts on the road to recovery. Is the current economic upswing for once the real thing? If so, to what extent is Japan’s expansion too dependent on exports to China? If China experiences a […]

Do budget deficits affect long-term interest rates? U.S. federal budget deficits are back big time. What will be their long-term consequences? Seven big thinkers enter the ring, gloves up – A Symposium Of Views GLENN HUBBARD Former Chairman of the Council of Economic Advisers under President George W. Bush, Russell L. Carson Professor of Economics […]

Will China surpass the United States? The dangers of the game of extrapolation John A. Tatom To read the press, one might think that China’s economy would soon surpass in size and prosperity the world’s remaining superpower. There is some basis for this speculation, though it is wildly premature at best, and very unlikely for […]

The International Economy power tree GERMANY Hans Eichel Federal Minister of Finance Tel: (30) 2242-0 Fax: (30) 2242-3258 Dr. Alfred Tacke State Secretary, Federal Ministry of Economics & Technology Tel: (1888) 615-9 Fax: (1888) 615-7010 Joschka Fischer Federal Minister for Foreign Affairs Tel: (1888) 17-0 Fax: (1888) 17-3402 Dr. Werner Mueller Federal Minister of Economics […]

Oh, Behave! – voluntary corporate codes of conduct Susan Ariel Aaronson Voluntary Codes Can Make Corporations Model Citizens In 1851, Great Britain organized the first world’s fair, which attracted some six million visitors to London. By comparing foreign and British products, the “Great Exhibition” celebrated British industrial prowess. It implicitly highlighted British democratic capitalism as […]

Euro Blues? Janet Bush The euro’s future is on shaky ground. No sooner had one crunch point for the euro passed, than another, far more worrisome one sailed into view. On the September night that Denmark shocked the European Union establishment to the core by voting against membership in the euro-zone–but far more pertinently against […]

The week the fed saved the world: an inside glimpse at the Greenspan-McDonough-Ferguson team’s backroom maneuvering – Federal Reserve, Allan Greenspan, William McDonough, Roger Ferguson Dina Temple-Raston No one anticipated the September 11th terror attacks, but preparation for Y2K and lessons learned from such things as the 1987 stock market crash and the Mexican peso […]

Iraq’s currency solution: the importance of adding oil to the equation Jeffrey Frankel Well-functioning monetary arrangements are as important as other aspects of the infrastructure in putting Iraq back on the road of economic development. After the unification of the two kinds of dinars that have been circulating, the next order of business will be […]

Restructuring: a how-to guide: successful debt restructurings in emerging markets require careful planning by foreign creditors Steven T. Kargman Since the onset of the Asian financial crisis, many foreign creditors have been faced with the challenge of restructuring troubled loans to private companies in the emerging markets. Foreign creditors have been reminded once again of […]