Abstract
The COVID-19 crisis has made it clear that pandemic policy is economic policy.
Contents
The COVID-19 crisis has made it clear that pandemic policy is economic policy.
SAFEGUARDING HEALTH AND WELL-BEING
Rethinking Multilateralism for a Pandemic Era
Incremental changes to existing mechanisms have failed; a fundamental reset is needed
Ngozi Okonjo-Iweala, Tharman Shanmugaratnam, and Lawrence H. Summers
Pandemic Economics
A broad-based economic recovery requires an end to the pandemic
Ruchir Agarwal and Gita Gopinath
Accelerating Vaccinations
Expanded production and more money for research will get shots into arms faster
Arthur Baker, Esha Chaudhuri, and Michael Kremer
Going the Last Mile
Improving sub-Saharan Africa’s logistics could be the key to successful vaccine delivery
Eugene Bempong Nyantakyi and Jonathan Munemo
Reflections on a Healthy Society
Six thinkers explore lessons learned from the pandemic to cultivate a more resilient world
Michelle Bachelet, Jeffrey Sachs, K.K. Shailaja, Christian Happi, Kate Soper, and MarÃa del RocÃo Sáenz
Financing Health Systems for the Future
We must view universal health coverage as a public policy goal and an investment
Tedros Adhanom Ghebreyesus
A Life Well Lived
Tree countries provide lessons for improving health and promoting happiness
Analisa R. Bala, Adam Behsudi, and Anna Jaquiery
Measuring National Well-Being
The search continues for a better gauge of prosperity than GDP alone
Daniel Benjamin, Kristen Cooper, Ori Hefetz, and Miles Kimball
ALSO IN THIS ISSUE
Listening to Social Silence
Anthropology is vital for building back better
Gillian Tett
Toward Better Pandemic Preparedness
Infectious disease outbreaks are inevitable—but we can mitigate their effects by investing in prevention
Jay Patel and Devi Sridhar
Pandemic Lessons
Ruchir Agarwal interviews the Global Fund’s
Peter Sands on why economists should pay more attention to global health
A New Public Health Order for Africa
Regional solutions are what we need to get us through the next pandemic
John Nkengasong
Dementia Storm on the Horizon
The rising incidence of dementia around the world calls for global collaboration and decisive financing
Nathaniel Counts, Arindam Nandi, Benjamin Seligman, and Daniel Tortorice
The African Century
The right actions today will ensure that sub-Saharan Africa thrives in a post-COVID world
Abebe Aemro Selassie
Quantum Computing’s Possibilities and Perils
Quantum computers could crack the cryptography that underpins financial stability
José Deodoro, Michael Gorbanyov, Majid Malaika, and Tahsin Saadi Sedik
DEPARTMENTS
People in Economics Data-Driven
Chris Wellisz profiles MIT’s Amy Finkelstein, who tests economic models with large data sets
Picture This
The Journey of the COVID-19 Vaccine
The development of COVID-19 vaccines has been miraculous, but the path to inoculating the world presents many obstacles
Andrew Stanley
Back to Basics
What Are Global Public Goods?
Global institutions must coordinate to preserve the goods that benefit us all
Moya Chin
Book Reviews
Tumultuous Times: Central Banking in an Era of Crisis, Masaaki Shirakawa
The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance, Eswar S. Prasad
Where Credit Is Due: How Africa’s Debt Can Be a Benefit, Not a Burden, Gregory Smith
Title Page
FINANCE & DEVELOPMENT
A Quarterly Publication of the International Monetary Fund
EDITOR-IN-CHIEF:
Gita Bhatt
MANAGING EDITOR:
Maureen Burke
DEPUTY MANAGING EDITOR:
Peter Walker
SENIOR EDITORS:
Analisa Bala Adam Behsudi
ASSISTANT EDITOR:
Andrew Stanley
ONLINE EDITOR:
Lijun Li
PRODUCTION MANAGER:
Melinda Weir
COPY EDITOR:
Lucy Morales
ADVISORS TO THE EDITOR:
EDITOR’S LETTER
Bernardin Akitoby
Celine Allard
Steven Barnett
Nicoletta Batini
Helge Berger
S. Pelin Berkman
Paul Cashin
Martin Čihák
Alfredo Cuevas
Era Dabla-Norris
Mame Astou Diouf
Rupa Duttagupta
Hamid Faruqee
Davide Furceri
Deniz Igan
Kenneth Kang
Subir Lall
Raphael Lam
Christian Mumssen
Papa N’Diaye
Mahvash Qureshi
Uma Ramakrishnan
Daria Zakharova
© 2021 by the International Monetary Fund. All rights reserved. For permission to reproduce any F&D content, submit a request via online form (www.imf.org/external/terms.htm) or by e-mail to copyright@imf.org. Permission for commercial purposes also available from the Copyright Clearance Center (www.copyright.com) for a nominal fee.
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Finance & Development is published quarterly by the International Monetary Fund, 700 19th Street NW, Washington, DC 20431, in English, Arabic, Chinese, French, Russian, and Spanish. English edition ISSN 0145–1707
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