Author Archives | Ned Pagliarulo
Japan US Abe Obama

Energy shortfall reshapes Japan’s foreign policy

Since the Fukushima disaster, Japan has been forced to import much of its energy. This has created significant geo-political and economic risks and has reshaped its foreign policy. In June, Toshikazu Okuya, Director of Japan’s Energy Supply and Demand Office, presented Japan’s fourth strategic energy plan. The plan details policy options for addressing Japan’s future […]

Continue Reading

How will the Fed normalize monetary policy post-taper?

As the Federal Reserve continues to reduce the pace of asset purchases, attention has turned to the impending rise in interest rates. But to control short-term rates, the Fed will need to rely on new tools. Ever since the Federal Reserve pushed interest rates down to effectively zero, the central bank has relied on large-scale […]

Continue Reading
rajan India central bank

Modi and Rajan face uphill battle with India’s growth and inflation

Given the potential conflict between Narendra Modi’s focus on growth and the Reserve Bank of India President Raghuram Rajan’s goal to curb inflation, both will need to work together to ensure a stable India. In the run up to Narendra Modi’s smashing victory in the Indian elections, rumors spread that the governor of the Reserve […]

Continue Reading

US Decline Series: Financial sector health makes US a sound investment

The US regulatory response to the crisis has resulted in a stronger market and equipped the US to deal with future crises. This GRI series challenges the myth of the American decline. Despite being half a decade removed from the global financial crisis, concerns remain about the health of financial systems in advanced countries. A closer […]

Continue Reading
mosque

Senegal sukuk bond signals wider African interest in Islamic finance

Senegal plans to issue an Islamic law compliant bond in 2014, building on momentum in sukuk issuance globally.  Senegal’s government looks set to issue a type of Islamic bond, known as sukuk as the country hopes to tap financing from wealthy Islamic states. According to reports from a recent meeting of the African Development Bank, […]

Continue Reading
Protests in Ukraine; Source: Helgi via Wikipedia

IMF approves support program for Ukraine, but risks could derail it

The $17 billion package will support fiscal adjustment and increased competitiveness. But the threat of losing control of Eastern Ukraine and risks in implementation make stability far from certain. The International Monetary Fund (IMF) approved a two-year, $17.01 billion economic support package for Ukraine on April 30, with just over $3 billion slated for immediate […]

Continue Reading
Dodd-Frank

“Too Big to Fail” banks enjoy lower funding costs despite stronger regulations

Implicit subsidies for large systemic banks has come down since the crisis but it is still higher than before, reflecting an ongoing perception of government support for the largest banks. While the US economic recovery has strengthened recently, the effects of the financial crisis and subsequent government intervention still linger. The problem of “too big to […]

Continue Reading
Abuja Nigeria

Nigeria becomes Africa’s largest economy after GDP revision

Nigeria has begun using a new base year for its GDP calculations and has added new sectors to the economy. The change in calculation has nearly doubled its GDP estimate for 2013. At the beginning of April, Nigeria overtook South Africa as the largest economy on the continent, nearly doubling its GDP through a statistical revision. […]

Continue Reading
Nigeria Oil (REUTERS/Akintunde Akinleye)

Part IV of IV: Nigeria’s failed attempt at subsidy reform

This final part in the GRI Series on energy subsidies examines Nigeria’s attempt at reform, and why it went wrong. Gradual adjustment and decision transparency are key elements of success. Nigeria provides an excellent case study on the failure to properly manage the removal of energy subsidies. Currently the eighth most populous country in the […]

Continue Reading
Source: Andrew Taylor via Flickr

Part I of IV: Why energy subsidies still exist despite inefficiencies

GRI Series on energy subsidies: Despite resolve to remove them, governments around the world continue to subsidize energy production and consumption. This series explores why. At the G20 Leader’s summit in 2009, member countries shifted their focus from containing the global financial crisis to rebuilding global growth. Among the measures taken, the G20 committed to phasing […]

Continue Reading