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The ECB's toxic bond-purchase programme

By Lars P. Feld, Clemens Fuest and Volker WielandBERLIN    With eurozone inflation rising rapidly, the European Central Bank (ECB) recently increased its benchmark interest rate by 50 basis points and introduced a new asset-purchase programme, the Transmission Protection Instrument (TPI), aimed at limiting yield differentials between member states’ bonds. But the ECB’s latest ....

Justus Haucap , Volker Wieland , Heike Schweitzer , Larsp Feld , Mario Draghi , Clemens Fuest , Bertholdu Wigger , European Central Bank , German Constitutional Court , University Of Freiburg , Ifo Institute , Institute For Monetary , Walter Eucken Institute , University Of Munich , European Court , Financial Stability At Goethe University , Transmission Protection Instrument , Outright Monetary Transactions , European Stability Mechanism , Walter Eucken , Managing Director , Financial Stability , Goethe University , Project Syndicate ,

Economic Diversification in Africa: How and Why It Matters


Carnegie Endowment for International Peace
Source: Getty
Summary:  Many African countries have placed economic diversification high on the policy agenda, yet they first need to define what it means in their specific structural and socioeconomic contexts.
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Summary
For decades, economic diversification has been a policy priority for low- and middle-income economies. In the words of former managing director of the International Monetary Fund (IMF), Christine Lagarde, “We know that economic diversification is good for growth. Diversification is also tremendously important for resilience.” Unfortunately, this goal continues to elude many African countries. In fact, the continent is home to eight of the world’s fifteen least economically diversified countries. This reality weakens the foundation of their economic transfomation and slows their pace of progress. It also ma ....

United States , United Kingdom , Sri Lanka , Noord Holland , National Bureau Of Economic Research , New York , South Africa , Carnegie Endowment For International Peace , District Of Columbia , Columbia University , International Institute , City Of , Equatorial Guinea , Saudi Arabia , World Bank , Republic Of South Africa , J Peter Neary , Ralf Ruhwedel , Michael Ferrantino , Francisco Garfias , Fuad Hasanov , Francesco Trebbi , Harinder Kohli , Roberto Alvarez , Young Eun Kim , Heiko Hesse ,