The role of non-bank financial intermediaries (NBFIs) in the financial system has increased markedly over recent decades. Research has highlighted both the benefits of this
Pension fund investors have been typically viewed as some of the most dependable investors in global bond markets. Their long-term obligations make government and corporate
Foreign investors’ growing holdings of dollar-denominated bonds have created a large demand to hedge dollar risk. Using outstanding FX forward and swap positions for seven
The Turkish central bank cut interest rates over 2021-2023, on the politically driven view that higher rates cause inflation. This column analyses the policies used
Predictions about the workplace impact of artificial intelligence often begin with what the technology can do captured by occupations’ exposure to AI. Using representative data
Firms in low- and middle-income countries persistently pay more to borrow than firms in high-income economies. Drawing on a new World Bank Group study of
Data show that trade sanctions reduce commerce between the countries imposing them and their targets. But this bilateral success can conceal a wider failure if
Many countries have adopted different price regulations to contain pharmaceutical prices, even in markets exposed to generic competition. This column documents subtle pricing patterns in
Governments around the world are increasingly mandating the digitalisation of business records, yet little is known about the effects of these policies beyond tax compliance.