Abhijit Banerjee, Esther Duflo, Victor Ginsburgh, Mr. Shlomo Weber, Tim Harford, and Jeff Madrick
'Wising Up to the Costs of Aging' looks at how falling fertility and rising life expectancy have combined to threaten the ability of many countries to provide a decent standard of living for the old without imposing a crushing burden on the young. In our lead article, Ronald Lee and Andrew Mason say that while population aging in rich industrial countries as well as in some middle- and lower-income countries will challenge public and private budgets in many ways, a combination of reduced consumption, postponed retirement, increased asset holdings, and greater investment in human capital should make it possible to meet this challenge without catastrophic consequences. Neil Howe and Richard Jackson publish a fascinating ranking of which countries are best and worst prepared to meet the needs of the growing wave of retirees. We also have articles on a broad range of current topics, including Middle East unemployment, the economic repercussions of the earthquake and devastating tsunami in Japan, and banking in offshore financial centers such as the Cayman Islands. Carmen Reinhart and Jacob Kirkegaard look at how governments are finding ways to manipulate markets to hold down the cost of financing huge public debts, and, in Straight Talk, the IMF's Min Zhu talks about the long-term challenges now facing emerging markets. Prakash Loungani speaks to Nobel Prize winner George Akerlof, and we discuss with three other laureates-Michael Spence, Joseph Stiglitz, and Robert Solow-what the global economic crisis has taught us. Back to Basics explains economic models, and Picture This highlights the great variations in the cost of sending money back home.
This report analyzes the Comprehensive Poverty Reduction and Growth Strategy (CPRGS), the poverty reduction strategy paper of Vietnam. It evaluates the CPRGS in the international context and the national situation, economic growth in individual sectors, and social achievements in poverty reduction. It analyzes the policy implementation, macroeconomic stability, administration reforms, modern governance, and challenges and measures in poverty reduction and growth. It provides details of strategy implementation and the monitoring and evaluating system.
International Monetary Fund. External Relations Dept.
When the world’s top financial leaders met in Washington on April 12 for the biannual meeting of the International Monetary and Financial Committee (IMFC)—against a backdrop of economic uncertainty and military conflict in Iraq—they promised to work to boost sluggish world growth, better prevent and resolve financial crises, rebuild Iraq, and reinvigorate the fight against poverty.