Front Matter

Front Matter Page

EDITOR-IN-CHIEF

Jeffrey Hayden

MANAGING EDITOR

Marina Primorac

SENIOR EDITORS

Gita Bhatt

Jacqueline Deslauriers

Hyun-Sung Khang

Natalie Ramírez-Djumena

James L. Rowe, Jr.

Rani Vedurumudi

Simon Willson

ASSISTANT EDITORS

Maureen Burke

Bruce Edwards

PRINT/WEB PRODUCTION SPECIALIST

Lijun Li

SOCIAL MEDIA MANAGER

Sara Haddad

SENIOR EDITORIAL ASSISTANT

Niccole Braynen-Kimani

EDITORIAL ASSISTANT

Meredith Denbow

CREATIVE DIRECTOR

Luisa Menjivar

GRAPHIC ARTIST

Michelle Martin

ADVISORS TO THE EDITOR

Bernardin Akitoby

Bas Bakker

Helge Berger

Paul Cashin

Adrienne Cheasty

Luis Cubbedu

Alfredo Cuevas

Domenico Fanizza

James Gordon

Thomas Helbling

Laura Kodres

Gian Maria Milesi-Ferretti

Inci Otker-Robe

Laura Papi

Uma Ramakrishnan

Abdelhak Senhadji

Janet Stotsky

Alison Stuart

Natalia Tamirisa

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F & D

FINANCE&DEVELOPMENT A QUARTERLY PUBLICATION OF THE INTERNATIONAL MONETARY FUND

June 2015 • Volume 52 • Number 2

Front Matter Page

  • FEATURES

  • A DEVELOPMENT AGENDA

  • Aiming High

  • New development goals could spur progress toward better-quality life around the world

  • Charles Kenny

  • A Quest for Quality

  • High growth alone will not improve social conditions

  • Montfort Mlachila, René Tapsoba, and Sampawende Tapsoba

  • Is the Glass Half Empty or Half Full?

  • Getting incentives right can go a long way toward managing water challenges while protecting the poor

  • Kalpana Kochhar, Catherine Pattillo, and Yan Sun

  • Straight Talk: Path to Development

  • International partnership, commitment, and flexibility are essential to improve the global condition

  • Christine Lagarde

  • Picture This: Global Goals

  • Governments put forward 17 goals to respond to global challenges

  • Natalie Ramírez-Djumena

ALSO IN THIS ISSUE

  • The Toll of Terrorism

  • Terrorists not only exact a direct human cost, they can cause innumerable economic problems too

  • Subhayu Bandyopadhyay, Todd Sandler, and Javed Younas

  • A Chain Unbroken

  • Outlawed almost everywhere, slavery lives on in the dark recesses of the global economy

  • Marja Ruotanen, Gianluca Esposito, and Petya Nestorova

  • Continental Reach

  • African banking groups are expanding across the region, challenging traditional players and supervisors

  • Alexandra Born and Paul Mathieu

  • The Rich and the Great Recession

  • Focusing on middle-class behavior to explain the boom and bust in the United States may be too narrow

  • Bas Bakker and Joshua Felman

  • Stymied Reform

  • The move to revamp over-the-counter derivatives markets is progressing, but well behind schedule

  • John Kiff

  • Capital Idea

  • By increasing spending on infrastructure, Germany will help not only itself, but the entire euro area

  • Selim Elekdag and Dirk Muir

  • Help Wanted

  • When a young person is jobless, it also damages family, community, and country

  • Hyun-Sung Khang

  • Four Years after the Spring

  • Despite progress, the Arab countries in transition still must correct some fundamental weaknesses in their economies

  • Adnan Mazarei and Tokhir Mirzoev

DEPARTMENTS

  • In Brief

  • People in Economics

  • Agent Provocateur

  • Jeremy Clift talks to Hélène Rey, professor of economics at the London Business School

  • Currency Notes

  • Paperback Builders

  • South Africa pays tribute to the country’s diversity in its latest currency design

  • Simon Willson

  • Back to Basics

  • What Is Capitalism?

  • Free markets may not be perfect but they are probably the best way to organize an economy

  • Sarwat Jahan and Ahmed Saber Mahmud

Photography: cover, IMF photos; p. 2, Philippe Lissac/Godong/Corbis, ThinkStock, Benedicte Desrus/Sipa USA/Newscom; p. 3, Doc-Stock/Corbis, Christophe Launey/Race for Water; p. 4, Steve Forrest/Panos; p. 7, Manar Hussain; pp. 8, 11, 13, Bart Verweij/World Bank; p. 10, Arne Hoel/World Bank; p. 12, Nahuel Berger/World Bank; p. 14, Kate Mitchell/Corbis; p. 18, Jim Lo Scalzo/epa/Corbis; p. 22, Stephen Jaffe/IMF; pp. 24–25, background photo, ThinkStock, all others, Corbis; p. 26 and p. 28, Porter Gifford/Corbis; p. 29, Rafael Ben-Ari/Chameleons Eye/Newscom; pp. 32–33, South African Reserve Bank; p. 34, Nadine Hutton/ Bloomberg via Getty Images; p. 38, Charles Smith/Corbis; p. 41, AP Photo/M. Spencer Green; p. 46, Arne Dedert/picture-alliance/dpa/AP Images; pp. 50–54, photos of Vanessa Tuduri, Henry Rivera Angulo, and Elizabet de Miguel Rodriguez by Gianluca Battista, photos of Ann-Marie Taylor by Sam Friedrich; p. 55, Philippe Lissac/Godong/Corbis.

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Finance & Development, June 2015
Author: International Monetary Fund. Communications Department