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Finance and Economy

Financial instability can have significant effects on economic growth.  It afflicts primarily countries in the process of economic development, which are vulnerable to instability and unable to cope with the consequences as smoothly as more economically advanced economies. 

Summaries and download links to all our research papers on Financial and Economy below.

Publications

Bangladesh Priorities: VAT, Nandi and Khondker

Government tax revenue is equal to just 11 percent of the size of the entire economy in Bangladesh. So despite the fact that the country has great potential to boost revenue earnings, much of it goes...

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Bangladesh Priorities: Secondary Bond Market, Mortaza

Research by M.G. Mortaza, an economist at the Asian Development Bank, and Wasel Bin Shadat, a lecturer in econometrics at the University Of Manchester, examines a related proposal to boost investment...

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Bangladesh Priorities: Microfinance, Bairagi and Bin Shadat

Research by Subir Bairagi, an economist at the Institute of Policy and Social Sciences (IPSS), and Wasel Bin Shadat, executive director of IPSS and lecturer of econometrics at the University of...

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Assessment Paper

Post-2015 Consensus: IFF Assessment, Cobham

The initial formulation of a target to address illicit financial flows as part of the Post-2015 Development Agenda was by means of a monetary sum, but the Open Working Group’s current proposals now...

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Perspective Paper

Post-2015 Consensus: IFF Perspective, Cardamone Kar

GFI agrees with Cobham that the original targets proposed by the High Level Panel were undermined by framing them in dollars rather than percentage terms, that illicit flows are substantially larger than Overseas Development Aid and that they adversely affect economic growth, development outcomes, inequality and governance.

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Perspective Paper

Post-2015 Consensus: IFF Perspective, Reuter

The issue of illicit financial flows came to prominence as a public policy issue with the publication of Raymond Baker’s Capitalism’s Achilles Heel in 2005, but it is striking that today we know little more about the issue. Moreover, all the current estimates of such flows are based on those of Global Financial Integrity, set up by Baker after his book was published, and use a single methodology.

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Policy Advice

Preliminary Benefit-Cost Assessment of Final OWG Targets

This report assesses the targets in the OWG’s Final Outcome Document from 19 July 2014. This builds upon the information presented in similar documents which the Copenhagen Consensus Center released...

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Policy Advice

Preliminary Benefit-Cost Assessment for 12th Session OWG Goals

The Copenhagen Consensus has updated our benefit-cost assessment of UN Post-2015 Millennium Development Goals for the 12th session of the Open Working Group. The Copenhagen Consensus will present...

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Policy Advice

Preliminary Benefit-Cost Assessment for 11th Session OWG Goals

Some of the world’s top economists have assessed the targets from the 11th session Open Working Group document into one of five categories, based on economic evidence: Phenomenal, Good, Fair, Poor and Uncertain.

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Assessment Paper

Denmark Consensus: Public Investments or Tax Relief

By Jan Rose Skaksen. In the coming years Denmark will face low economical growth. A key question often asked in connection with this development is whether reductions in tax rates are the most effective way to ensure higher growth, or public investments.

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Assessment Paper

Copenhagen Consensus Latin America: Fiscal Problems

By Miguel Braun. Despite recent improvements in fiscal solvency, Latin America still faces serious challenges in this area. This paper discusses proposals to further secure the system against adverse shocks through improved debt management, implementing effective fiscal rules, and reforming tax systems.

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Assessment Paper

Copenhagen Consensus Latin America: Employment/Social Security

By Alejandra Cox Edwards. During the last few years Latin America has reluctantly begun a process of markets integration into the global economy. This process is likely to deepen in years to come, and workers in the region must have access to the opportunities that this global market place offers.

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Executive Summary

Financial Instability, summary

Financial instability can have significant effects on economic growth. A round estimate is that income growth in developing countries has been reduced by a quarter over the last 25 years due to its...

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Assessment Paper

Copenhagen Consensus Latin America: Poverty and Inequality

By Sebastian Galiani. With about one in five people in Latin America and the Caribbean classified as poor by international definitions, poverty remains at the top of the regional policy agenda. Economic growth is one way to reduce absolute poverty, and indeed seems a prerequisite for any significant improvement.

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Assessment Paper

Copenhagen Consensus: Financial Instability Assessment, Eichengreen

An Assessment Paper on Financial Instability was prepared for the 2004 Copenhagen Consensus by Barry Eichengreen. The working paper used by the Expert Panel is available for download here, the...

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Perspective Paper

Copenhagen Consensus: Financial Instability Perspective, Henry

For Copenhagen Consensus, Peter Blair Henry wrote a Perspective Paper in response to Barry Eichengreen's Assessment Paper on Financial Instability.

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Perspective Paper

Copenhagen Consensus: Financial Instability Perspective, Wyplosz

Charles Wyplosz wrote a Perspective Paper in response to Barry Eichengreen's Assessment Paper on Financial Instability for Copenhagen Consensus.

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