Capital account liberalization may have substantial benefits, but recent experience also underscores its risks. How should liberalization be sequenced and managed to ensure that the benefits dominate?

Trade theorists continue to puzzle over their surprisingly small estimates of the impact of trade liberalization on imports. All explanations of the puzzle treat trade liberalization as a given. But ...

It is well accepted that trade generates winners and losers. The past few decades have seen increases not just in trade in goods and services but trade in assets, as countries relax restrictions on ...

At the beginning of the 1990s, policy doctors were almost unanimous in advocating a strong dose of capital and financial market liberation for developing countries as a way to improve their prospects ...

What conditions lead to world-changing innovation? It’s an important question for business and government leaders. Contrary to the traditional notion of the solitary scientist, new products, services ...

Millennials are constantly reminded about life in India’s big cities and beyond, and are well aware of the opportunities and the wealth accumulated by those living in these places. (Photo: Priyanka ...

We study the consequences of interest-rate liberalization in a two-sector general equilibrium model of China. The model captures a key feature of China’s distorted financial system: state-owned ...

The rupee devaluation in 1966 turned out to be a political disaster for Indira Gandhi. A decade of economic vandalism followed. Photo: Jan E Carlsson/AFP Explaining the decision to not de-license the ...

Welcome to Wider Europe, RFE/RL's newsletter focusing on the key issues concerning the European Union, NATO, and other institutions and their relationships with the Western Balkans and Europe's ...