How the financial authorities can take advantage of artificial intelligence
Artificial intelligence will both be of considerable help to the financial authorities and bring new challenges. This column argues the authorities...
Chinese Debt Capital Markets - An Emerging Global Market with Chinese Characteristics
With the deepening of China's reform and opening up, and the sustained development of the Chinese economy, the Chinese bond market has become an...
Collateral Effects: The Role of FinTech in Small Business Lending
This paper investigates the impact of introducing junior unsecured loans (i.e., FinTech loans) in the small business lending market. Using French...
The meandering path of gender reform in Africa
Informality prevails in Africa, especially among women. Eighty-eight per cent of working African women were employed in the informal economy in 2022...
All The President’s Money: Market Concentration, Oligarchs and Sanctions in Hybrid Regimes
Hybrid regimes feature combinations of democratic and autocratic attributes. Their common element is a leader who cultivates a clientele of favored...
Gender-based violence blocks Pakistan’s economic development
Despite some advances in women’s rights in Pakistan, economic and political unrest has increased gender-based violence in the country. A system of...
A growth plan for Greece
In January 2020, the Greek government appointed a Commission to propose a growth plan for the Greek economy. The Pissarides Commission produced a...
A Growth Strategy for the Greek Economy
The Greek government appointed in January 2020 a Commission chaired by Nobel Prize winner Christopher Pissarides to propose a growth plan. The...
The Uneven Path Towards Women’s Rights in Argentina
Argentina’s progress towards legal equality for women has been slower than in most other Latin American countries. In 1971 Argentina’s score of 31 on...
What’s at stake for women in Argentina
The stakes are high for gender equality in Argentina, which has a chequered history in gender reform. Now the next president might be an extreme-right...
The gap between perceptions and outcomes of women’s rights in the United Arab Emirates
The United Arab Emirates have taken steps to alleviate gender inequalities in its legal system, amending their labour, personal status and criminal...
The Sudden Surge in Gender Legal Reform in the UAE
Since 2017, the United Arab Emirates have introduced several gender legal reforms after decades of poor performance on economic and social equality...
Multinationals and Structural Transformation
We study the role of multinationals (MNCs) in facilitating firm-level and aggregate structural transformation. Using a stylized model of multinational...
Cleansing by tight credit: Rational cycles and endogenous lending standards
Journal of Financial Economics, 150(1), 46-67
Low Rates and Bank Loan Supply: Theory and Evidence from Japan
In this paper, we explore the consequences of low nominal interest rates for credit supply, macroeconomic outcomes and policy. Using the protracted...
