Postcard from Davos

An EBRD delegation took to the Swiss Alps this week for the traditional World Economic Forum in Davos. An annual get-together of the great and the good, it’s the sort of place where you can’t walk more than 50 yards …

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The "invisible hand" of advanced country central banks in emerging markets

We all know that most emerging market economies have limited policy room to deliver massive counter-cyclical crisis response. This affects their risk perception, investor confidence, and capital inflows. Indeed, most emerging markets have limited fiscal space (except for those with …

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