Many governments have to mitigate concerns about fiscal sustainability, without triggering near-term output losses or reversing progress on containing poverty or inequality. This column assesses
Scientific research has long been recognised as a central driver of technological progress and economic growth (Romer 1990). It also plays a critical role in
Industrial policies are rarely connected to global imbalances. Yet, they are a key feature of many countries running persistent trade surpluses. Take the case of
As governments expand industrial subsidies in the name of economic security, debate intensifies over whether such policies distort trade or enhance competitiveness. This column presents
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