Category: International

Chart of the Month, Development, International

Chart of the Month – December 2021

In 2021, remittances to low and middle-income countries are predicted to total $589 billion. December’s Chart of the Month explains why these remittances (money sent by migrant workers back to their country) are so crucial to developing nations. Life for migrants has been tough since the pandemic hit. Many have been stranded from families overseas or been vulnerable to COVID-19 as their jobs were commonly on the … Continue reading Chart of the Month – December 2021

Unknown's avatarTristan HandLeave a comment
Business and Technology, International

How Long Will the Semiconductor Shortage Last?

The world’s shortage of semiconductors has had ramifications for the entire globe. Shortages have caused a drastic decrease in the production of electronic parts for renewable energy industries, consumer electronics, and most of all, the automotive industry. If Taiwan’s manufacturing factories experience other lockdowns and closures due to further outbreaks of Covid-19, the effect of the semiconductor shortage could last longer and be more damaging … Continue reading How Long Will the Semiconductor Shortage Last?

Unknown's avatarTorsai Kiernan1 Comment
Economics, International, Long Read

Modelling Supply and Demand: An Investigation of Price Volatility

Introduction     For those who have lived through a pandemic, price volatility is no new phenomenon. In the early days of lockdown restrictions, dramatic images of empty shelves surfaced across media outlets, prompting fears of widespread shortages and price increases. Economic theory provides a standard explanation: a change in consumer preferences (as the jargon goes) results in a rightwards shift in demand. This leads to shortages, … Continue reading Modelling Supply and Demand: An Investigation of Price Volatility

Unknown's avatarChenyang Li4 Comments
Environment, International

The Economics of Poaching

A century ago, more than ten million wild elephants roamed the forests and savannahs of Africa. Now there are fewer than 500,000 left. The exorbitant price of ivory, at $1,800 per kilo, makes the grisly economics of poaching extremely valuable, condemning 35,000 elephants each year to an ugly death. Despite its trade being banned since 1989 and a global struggle to enforce an ‘ivory crush’, strong demand from East Asia has seen the market expand by 66% since 2003 and has … Continue reading The Economics of Poaching

Unknown's avatarTristan HandLeave a comment
Development, International

Foreign Aid: The Double-Edged Sword

The coronavirus pandemic, dubbed the ‘Inequality Virus’, will push a further 150 million people globally into poverty by the end of 2021. The pandemic’s negative repercussions have been worst felt in low-income countries (LICs), where they have been described as ‘a serious setback to development progress’. Foreign aid has been at the forefront of supporting developing countries for many years, reaching ‘an all-time high of … Continue reading Foreign Aid: The Double-Edged Sword

Unknown's avatarAaryan HariaLeave a comment
Economics, International

Prospect Theory

How happy would you be if I said you won £1,000? Presumably rather elated; but would you be twice as happy if I’d instead told you that you’d won £2,000? To most people the answer is almost immediate: “Well I’d be happier but probably not twice as much!” Likewise, most people would choose a guaranteed £1,000 prize rather than a 50% chance of a £2,001 … Continue reading Prospect Theory

Unknown's avatarTristan HandLeave a comment
Economics, International, Politics, UK

Financing Think Tanks

Think tanks are defined by the Oxford English Dictionary as “a research institute or other organization providing advice and ideas on national or commercial problems.” In modern democracies, think tanks play a crucial role in economic decision-making. They help the public to understand both sides of important policy decisions whilst holding governments to account. They also help policymakers: governmental entities, such as the Low Pay … Continue reading Financing Think Tanks

Unknown's avatarChenyang Li1 Comment
International, Keynes Society Reports

Dr Jianhai Lin: “The Changing Global Economic Landscape: Challenges and Opportunities”

The Keynes Society was honoured to host Dr Jianhai Lin virtually. Dr Lin joined the IMF in 1989 and, from March 2012 to August 2020, was the Secretary of the International Monetary Fund, its Board of Governors and the International Monetary and Financial Committee. He had previously served in senior positions in the IMF’s Finance, Policy Development and Review, and Asian and Pacific Departments, working … Continue reading Dr Jianhai Lin: “The Changing Global Economic Landscape: Challenges and Opportunities”

Unknown's avatarJohn ChangLeave a comment
Business and Technology, International

The Data Revolution: The Rise of a New Economy

The rapid increase in global data production that is currently taking the world by storm is by no means a recent phenomenon. Indeed, ever since the very earliest stages of mankind’s existence, data in some form has been the metric used to evaluate almost everything, from decisions regarding the implementation of new technologies to deciding on the most suitable design for a product. It is … Continue reading The Data Revolution: The Rise of a New Economy

Unknown's avatarThomas MarshLeave a comment
Economics, International

Does Government Spending Benefit the Economy?

‘Spend as much as you can’, urged the IMF at the start of 2021 in order to accelerate the global economy’s revival. Others argue that the economy should be left to its own devices – government intervention only creates havoc. Governments spend in a plethora of ways, but we must examine the effects of government spending, originally intended to directly benefit the economy. On the … Continue reading Does Government Spending Benefit the Economy?

Unknown's avatarPeter PanLeave a comment