Economy

The global economy thrives on globalization and the increasing interdependence of finance, production, consumption and trade. Such integration has reduced poverty, yet varying national policies along with ever-increasing speed of transactions and market news have also contributed to imbalances, both among nations and within. Regulations often do not keep pace in managing cross-border debt, foreign direct investment, corporate practices, tax codes or economic bubbles. The eurozone crisis and the US subprime mortgage crisis have demonstrated that one nation’s problems and panic can spread like wildfire. Nations must combine a competitive spirit with cooperation to achieve stable economic growth and sustainable prosperity.

Recently in YaleGlobal

Amitav Acharya
YaleGlobal
, 3 July 2014
New World order emerges, one that requires cooperation and ability to build regional ties
Anthony Rowley
YaleGlobal
, 1 July 2014
New casinos? Wall Street re-labeled developing nations as emerging markets for investors
Chandran Nair
YaleGlobal
, 17 June 2014
Developing nations are well versed on inequality – Piketty book neglects the role of natural capital
Loro Horta
YaleGlobal
, 22 May 2014
Timor-Leste, struggling since independence in 2002, cannot take international generosity for granted
Farok J. Contractor
YaleGlobal
, 8 May 2014
China resists further currency appreciation to remain competitive in manufacturing and job creation
Michael Mandelbaum
YaleGlobal
, 24 April 2014
Fierce opposition to immigration festers in US and Europe – the US political backlash will be less severe
> MORE YALEGLOBAL ARTICLES

In the News

Min Zeng
The Wall Street Journal
, 18 July 2014
Analysts are scratching their heads
World Bank News
, 15 July 2014
The highly skilled may not agree that they are truly the best paid
Yale Books Unbound
, 14 July 2014
China has started rebalancing its economy while the United States balks
TNN
The Times of India
, 14 July 2014
Families scramble to find documents to prove citizenship
Allan Sloan
Fortune
, 11 July 2014
Multinationals want nations to slash corporate tax rates – or expect relocation
Nayan Chanda
The Times of India
, 7 July 2014
China’s economy outweighs those of Brazil, Russia, India and South Africa combined
> MORE IN THE NEWS

More On Economy

COLUMN
India’s universal ID card could lead to social and economic innovations
VIDEO
In an interview with with YaleGlobal editor Nayan Chanda, Dr. Raghuram Rajan, Chief Economic Adviser to the Government of India and former Chief Economist of IMF explains the background of the global economic crisis, mixed US success in containing it, Europe's challenge and background to reforms on FDI and subsidy launched in India in September, 2012.
AUDIO
BOOK REVIEW
Alistair Burnett reviews Edward Luce’s Time to Start Thinking: America and the Spectre of Decline, calling it a stern wake-up call from a friend.
BOOK EXCERPT
The world is slowly eliminating poverty and seeing a rising middle class, which along with education and technology, brings an unprecedented convergence of interests, cultures and standards.
ACADEMIC PAPER
Wage inequality may have little association with economic growth, and reversing it would have little impact on growth