This weekend’s spring meetings of the World Bank and IMF take place in the context of a fragile global recovery and the need to balance the risks of asset bubbles caused by expansive monetary policy with those of slowing growth through hiking interest rates.
CGD Policy Blogs
This is a joint post with Julia Clark and Christian Meyer.
Industrial policy—as many have already commented—is back. (See here, here and here).
The recent wave of post-financial-crisis interventionism has reignited the classic (and often heated) debate about whether governments can in fact nurture economic growth. Previous analysis of the East Asian miracle, and frustration at the perceived failure of certain liberalization policies, has led many to (again) embrace a more activist role for governments in economic development.