Member Views

Asian Emerging Markets in the era of Infinity War

It was just a year ago that Argentina issued a 100-year bond which offered a dollar coupon of less than eight percent for which, there was three times as much demand as supply. Shortly afterwards, major investment banks issued their outlook for 2018.

Asia’s emerging markets hold the keys to sustainable investment

Japan’s newly re-elected prime minister, Shinzo Abe did not mince words in a recent article that led the Financial Times opinion page: Environmental risks are exacerbating. More robust action is needed. “And swiftly.”

Attaining Ajay Banga’s New Bank Vision – Mainstreaming Partnerships with Civil Society

President Ajay Banga has huge ambitions for the World Bank. But are they likely to impact climate change, reduce poverty, and strengthen prosperity? Or will they amount to no more than fine phrases in speeches and reports?

Avoiding the pain of China’s housing crisis risks infecting the wider economy

o The growing housing crisis threatens to spread like previous financial contagions and damage economies across the globe
o Policymakers need to let poor performers suffer the consequences of bad bets while looking after solvent banks and enacting land and property reforms

B Peter Rosendorff

The Bretton Woods Committee is pleased to welcome new member, B. Peter Rosendorff.

Rosendorff is a Professor of Politics at New York University with an affiliate appointment at NYU-Aby Dhabi. His research interests include the political economy of terrorism, bilateral trade and investment, sovereign debt, international organizations, and the anti-globalization backlash.

Bailouts Create a Moral Hazard Even if They're Justified. Is There Another Way?

BWC member Hung Tran argues "a much better approach would have been to protect large depositors up to the value of the closed banks’ high-quality bond portfolios, which are eligible as collateral to borrow from the newly launched Bank Term Funding Program."

Bank Runs Are Terrible. The Fed Can Eliminate Them.

The BWC is pleased to Member Spotlight BWC Chair Bill Dudley's recent Bloomberg Op-Ed, offering a nuanced analysis on substantial reforms for the Federal Reserve to effectively mitigate the occurrence of bank runs.

Barclays plc

This week we also welcome new member Barclays plc.

Barclays operates in over forty countries, employs over 80,000 people, and is the fifth largest bank in Europe by assets.

We appreciate their support for our work and mission, and we look forward to their engagement!

Barron’s 100 Most Influential Women in US Finance

BWC member Afsaneh Beschloss, founder and CEO of RockCreek was named to Barron’s 100 Most Influential Women in US Finance list for the second year in a row. The list honors leaders in the financial services industry who have made outsized contributions to strengthening the US financial system.

Beware the Government Debt-to-GDP Ratio

Government debt levels around the world are rising fast as governments run up large budget deficits because of the pandemic-induced recession. In judging the level of government debt, and how much of a potential problem it might be storing up for the future, a universally cited metric is the nominal government debt-to-GDP ratio, the amount of government debt expressed as a percentage of gross domestic product. 

Quoting government debt levels as a percentage of GDP is misleading.