Risk-based approaches, inclusive policymaking, and strategic frameworks will allow developing countries in Asia and the Pacific to navigate the challenges of artificial intelligence while ensuring its benefits are shared equitably. Rapid advancements in artificial intelligence (AI), fueled by ever-increasing computing power and data, are transforming industries worldwide and bringing significant benefits to individuals and organizations. […]
The ‘doom loop’, or ‘sovereign–bank nexus’, has been identified as a key driver of the European debt crisis. It has been back in the spotlight recently, as the response to the public health crisis and the Russian invasion of Ukraine have caused sovereign debt levels to balloon. This column explores the impact of default risk […]
The US stands unrivalled as both a military and financial superpower. This column uses a game-theoretic model to show how the global dominance of the US dollar – what economists call the ‘exorbitant privilege’ – is inextricably linked to America’s unmatched military strength. This dual hegemony allows the US to finance its defence spending at […]