Natural resource dependence presents significant macroeconomic and structural challenges, often referred to as the “resource curse.” While much of the literature has focused on the export side, particularly the Dutch disease—where resource booms lead to a loss of competitiveness in other sectors—less attention has been paid to the import side. Yet, the economic significance of imports […]
Central banks have made substantial progress in the fight against inflation. In July 2022, the median inflation rate worldwide was 9.4 percent, the highest since 2008. By last month, it had been whittled down to 2.9 percent. This decline in inflation has been broad-based: in 90 percent of countries it is now lower than in July 2022. […]
Power markets and their structure are complex and critical to providing reliable, affordable electricity worldwide. This is no simple task, as supply and demand must be balanced every second and the market must send the correct price signals to motivate efficient generation and investment in the sector over time. The structure of global power markets […]