The New Trilemma of Macroeconomic Policy: Future Policy Responses

La pandémie de la Covid-19 était venue contribuer au ralentissement de la cadence des investissements chinois dans le cadre de l’Initiative Ceinture et Route « Belt and Road Initiative (BRI) ». Entamée dès 2016, cette tendance à la baisse a été accentuée par les tensions géopolitiques et les problèmes internes qui ont affecté l'économie chinoise. Nonobstant ces contre-temps, la Chine a atteint l’un de ses plus grands objectifs : étendre son influence à travers le monde. À l’occasion ...

A 2023 United Nations progress report (UN, 2023) showed that, of the 169 targets that make up the Sustainable Development Goals (SDGs), only 15% are on track, and progress on many has either stalled or regressed. The Water-Energy-Food nexus approach has highlighted the utmost importance of understanding the interconnections between systems in order to accelerate the achievement of the SDGs. In this policy brief, we use the lessons learned from the water sector through a case study f ...

The debate on global value chains (GVCs) has emphasized countries’ contributions to value-added creation. From an intercountry perspective, a new body of research is addingto this debate by studying how subnational regions contribute to the indicators in specific countries. Proper assessment of economic contributions is essential for designing incentive policies. This paper analyzes the role played by the main trading partners of Moroccan regions in local value chains. We use input- ...

This paper was originally published on The South African Institute of International Affairs (SAIIA) In order for Africa to raise living standards, create employment for youth and diversify exports, it must industrialise. Until recently, sub-Saharan African (SSA) countries made limited progress in manufacturing value addition and employment, mirroring the de-industrialisation trend seen in many developing countries. To propel industrialisation, SSA countries should adopt flexible st ...

The Belt and Road Initiative (BRI), launched by Xi Jinping, passed its tenth anniversary in 2023. It has entered a third phase. The initiative added a label to China’s financing and construction of infrastructure abroad, which had already totaled more than $400 billion in the previous 10 years. In addition to the use of investment projects as part of Chinese ‘soft power’, the BRI has served to increase levels of usage of the country’s excess installed capacity. China’s economic re ...

This Paper was originally published on onlinelibrary.wiley.com   This study aims to shed new empirical light on the importance of the wage curve in a developing economy. The main contribution to the empirical literature is related to the analysis being conducted at different regional levels of a developing economy. This indicates that municipal-level data seems to be more adequate for wage curve evaluation, and that spatial dependency should be considered to adequately control for ...