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F&D
FINANCE & DEVELOPMENT A QUARTERLY PUBLICATION OF THE INTERNATIONAL MONETARY FUND September 2016 • Volume 53 • Number 3
Front Matter Page
FEATURES
SMART TECHNOLOGY TAKES FLIGHT
Intelligent Technology
As digital applications encroach on various aspects of daily life, the impact on the economy will help us live smarter and better
Hal Varian
Robots, Growth, and Inequality
The robot revolution could have negative implications for equality
Andrew Berg, Edward F. Buffie, and Luis-Felipe Zanna
The Dark Side of Technology
The benefits of the digital age are tempered by the risks
Chris Wellisz
Picture This: Digital Divide
Despite the rapid spread of digital technologies, the anticipated benefits of higher growth and more jobs have fallen short
Natalie Ramirez-Djumena
Two Faces of Change
New financial technologies hold both promise and pitfalls
Aditya Narain
Straight Talk: Knowledge as a Public Good
The IMF is using technology to boost understanding of economic policy issues
Sharmini Coorey
Game Changer
Technology is transforming the way development agencies work
Big Data’s Big Muscle
Computing power is driving machine learning and transforming business and finance
Sanjiv Ranjan Das
Music Going for a Song
Protecting creative content could promote development in the digital age
Patrick Kabanda
ALSO IN THIS ISSUE
Tongue Tide
The economics of language offers important lessons for how Europe can best integrate migrants
Barry R. Chiswick
A Ride in Rough Waters
Emerging markets buoyed the world after the global financial crisis, but are now in a major slowdown
Raju Huidrom, M. Ayhan Kose, and Franziska L. Ohnsorge
Transmission Troubles
Heavy inflows of remittances impair a country’s ability to conduct monetary policy
Adolfo Barajas, Ralph Chami, Christian Ebeke, and Anne Oeking
Capital Buffers
How much capital banks need is an important public policy question
Jihad Dagher, Giovanni Dell’Ariccia, Lev Ratnovski, and Hui Tong
Dollar Dependence
The move away from domestic dollar use ended in most emerging markets after the global crisis, but not in Peru
Luis A.V. Catão and Marco E. Terrones
Hidden Value
Public-private partnerships have been criticized as too costly, but when the whole economic picture is considered, they look much better Edward F. Buffie, Michele Andreolli, Bin Grace Li, and Luis-Felipe Zanna
DEPARTMENTS
People in Economics
Swimming Upstream
Alan Wheatley profiles Nancy Birdsall, founding president of the Center for Global Development
Currency Notes
A Winning Note
Kazakhstan’s tenge has won several awards for best currency design Niccole Braynen-Kimani
Book Reviews
The Curse of Cash, Kenneth S. Rogoff Success and Luck: Good Fortune and the Myth of Meritocracy, Robert H. Frank
Capital without Borders: Wealth Managers and the One Percent, Brooke Harrington
Illustration: p. 26, Michael Gibbs.
Photography: Cover, p. 6, Colin Anderson/Getty Images; p. 2, IMF photo; p. 10, Fabrice Coffrini/AFP/Getty Images; p. 12, Toru Yamanaka/AFP/Getty Images; p. 14, Caroline Purser/Getty Images; pp. 18–19, Thinkstock; p. 20, Thinkstock; p. 22, IMF photo; pp. 24–25, agency logos used by permission; p. 29, Imaginechina/AP Images; p. 31, Michael Gottschalk/Photothek/Getty Images; p. 34, Juca Martins/MCT via Getty Images; pp. 38–39, banknote images used with the permission of the National Bank of Kazakhstan/IMF photos; p. 40, Schöning/ullstein bild via Getty Images; p. 44, Niklas Halle’n/AFP/Getty Images; p. 48, Victor J. Blue/Bloomberg/Getty Images; p. 51, Domingo Leiva/ Getty Images; p. 52, SIA Kambou/AFP/Getty Images; pp. 55–57, IMF photos.
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