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EDITOR-IN-CHIEF: Jeffrey Hayden

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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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Finance and Development, September 2016
Author:
International Monetary Fund. External Relations Dept.