Economics & Global Affairs

On June 24, Turkey will go to early presidential and parliamentary polls. The snap elections come amidst significant macroeconomic turmoil. As fears persist over the strength of Turkey’s economy, what can be said about how the ruling Justice and Development Party (AKP) has managed public resources since its arrival into power in 2002? Do patterns of government spending reflect development or economic needs or do political priorities largely dictate how budgets are allocated?

Throughout the 2000s, Turkey was portrayed as a model of social and economic success for other countries in the MENA region. Ahead of the country’s early presidential and parliamentary polls, this column reports research evidence on how the ruling Justice and Development Party has managed public resources and fostered local economic development since it took power in 2002. The government has played a substantial role in influencing local economic performance on a discretionary basis.

While money managers from Goldman Sachs Group Inc. to UBS Wealth Management still tout investing opportunities in emerging markets, the asset class has one notable critic: Harvard professor Carmen Reinhart.

Once in a while, humankind gets blessed with prodigious talents to light the world and dispel darkness. Civilizations and breakthroughs in human history have arisen from such gifted people.

Such was Professor Calestous Juma, who passed away on 15 December 2017, after a battle with cancer, and interred on 6 January 2018 in his home country, Kenya.

Despite specialised press coverage, little is known about the potential wider socioeconomic implications of digital wealth management solutions. This column examines how ‘robo-advisors’ offer an opportunity to democratise finance and decrease wealth inequality. These algorithmic investment advisors stand to disrupt the wealth management sector through their ‘low-cost, accessible to most’ business models. However, the entrance of traditional wealth managers into the robo-advisor market could threaten this disruption.

Combined with a greater level of regulatory oversight and new mining laws in some countries, these factors indicate that the mining industry in Africa may be on the cusp of a period of sustained growth.

Brexit’s impact on India and its relationship with the UK continue to garner significant attention and even more speculation. What are its implications for bilateral ties and how does India view the UK’s controversial decision to leave the EU? Will Brexit allow the two countries to forge an even closer relationship as supporters of the Leave campaign allege, or has the vote introduced a new degree of uncertainty into the relationship?

Dr. Ian Bremmer, expert in political risk and founder of the Eurasia Group, gave a seminar sponsored by the the Future of Diplomacy Project on Thursday, November 9 at the Harvard Kennedy School, titled “Managing Risk in an Unstable World."

The Right Honourable Douglas Alexander offered his views on European security in a discussion moderated by FDP Executive Director Cathryn Cluver.

This paper constructs and tests the robustness of consistently measured poverty trends in the Islamic Republic of Iran after 2008, using international poverty lines based on U.S. dollars at 2011 purchasing power parity. The constructed estimates reveal three distinct periods of welfare in the Islamic Republic of Iran: increase in poverty and inequality between 2008 and 2009, decline in poverty and inequality between 2009 and 2012, and gradual deterioration of both indicators again after 2012. The results are robust regardless of the choice of welfare aggregate, inclusion or exclusion of different components, and spatial adjustment accounting for regional variation in food and housing prices.