시리즈 - 헤럴드경제

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How to realize the flow of funds from savings to investment in Japan [SHIN-ICHI FUKUDA - HIC]

In Japan, many policymakers and academics have long advocated changing the flow of funds “from savings to investment” in financial markets. During the post-WWII period when Japan was catching up with advanced economies, the bank-centered financial system contributed significantly to economic growth by allocating money to growing sectors. However, as Japan has already become an advanced economy with high technology, achieving significant economic development under the bank-centered fi
2024.09.26 11:14
Modi 3.0: Emerging Economic Policy [Narendra Jadhav - HIC]

Prime Minister Narendra Modi has won a historic third five-year term, a feat that was achieved earlier only by India‘s first Prime Minister, Jawaharlal Nehru. Contrary to the pre-poll predictions, however, the mandate to PM Modi in the third round is much weaker. This could invariably be expected to affect economic policies of the newly formed government. In this article, the attention is focused on India’s fiscal policy. In India, the Central Government‘s budget, which in a ty
2024.09.23 11:23
Why and How All Businesses Should Consider Turning Their Products into Platforms [Andrei Hagiu-HIC]

In the current digital era, businesses are constantly seeking ways to innovate, grow, and maintain a competitive edge. One increasingly popular strategy is transforming products into platforms. This approach involves expanding existing products and services to also enable interactions among customers or between customers and external third-parties. With some creative thinking and careful implementation, this strategy can generate new revenue streams and enhance competitive advantage via network
2024.09.19 11:38
How to Shift Generative AI from Reality-Warping to Reality-Improving Applications [Frank Pasquale-HIC]

Google CEO Sundar Pichai has characterized AI as “the most profound technology humanity is working on. More profound than fire, electricity, or anything that we have done in the past. The hype around ”existential risk“ in AI follows a similar narrative, analogizing it to Oppenheimer‘s atomic bomb. Such grand pronouncements have stirred many a corporate board and government agency to develop AI deployment plans. The problem, though, is that it‘s not yet clear if th
2024.09.13 11:14
Will AI hit employment, raise productivity, and increase inequality?[Christophe André -HIC]

Will AI hit employment, raise productivity, and increase inequality? The release of ChatGPT in November 2022 has raised great hopes that artificial intelligence (AI) can contribute to solving problems in many fields and lift productivity, but also fears that many jobs may disappear, and that income inequality could rise further. AI is commonly seen as a general-purpose technology, like the internal combustion engine, early electricity-based technologies, and computers. Such technologies have the
2024.09.10 11:05
Creative disruption, essential for economic miracles [Diane Coyle - HIC]

How can countries avoid or escape the “middle income trap” as they develop and grow? One possible answer that emerges from this year‘s World Development Report (WDR) from the World Bank is that any country finding itself stuck at this level of around 10-20% of US GDP per capita (that is, in the range of $1,136 to $13,845) should follow South Korea’s example. The country‘s strategy since the 1960s illustrates what the Bank labels the ’3i‘ approach: &ldquo
2024.09.09 11:08
Harris vs Trump on the Economy [Barry Eichengreen-HIC]

Kamala Harris and Donald Trump [Gettyimage]This November‘s U.S. presidential election will have profound implications for American social policy, foreign policy and, not least, economic policy. In the economic-policy sphere, the two candidates’ approaches show the expected differences but also some surprising similarities. The next president will inherit a large public debt and a budget deficit that the nonpartisan Congressional Budget Office projects will approach 6.5 percent of GDP
2024.09.06 11:14
The Summit of the Future: waiting for renewal of the UN [Angel Alonso Arroba - HIC]

In Africa, there are many people living below the poverty line and suffering from hunger, and in Berlin, Germany, a protest against gas drilling was held on the 16th of last month. It is difficult to overcome poverty and the climate crisis, and the world is facing a serious humanitarian crisis due to the Russia-Ukraine war and conflict in the Middle East. The role of the United Nations, an international organization that will solve numerous problems, is attracting attention. [Source:AFP·E
2024.09.05 11:23
Implications of the Harris versus Trump Presidency for the World [Shang-Jin Wei-HIC]

US vice-president Kamala Harris outlined her vision for an ''opportunity economy'' in her acceptance speech at the Democratic National Convention in Chicago on Thursday-Andrew Caballero-Reynolds/AFP/Getty ImagesConvention Thursday, Aug. 22, 2024, in Chicago. [AP Photo/Brynn Anderson]Former President Donald Trump raises his fist July 18, 2024, during his speech the Republican National Convention in Milwaukee.[AP]One of the biggest uncertainties hanging over the world economy i
2024.08.29 11:45
Achieving Peace in the New Multipolar Age [Jeffrey D. Sachs - HIC]

With the demise of the Soviet Union in 1991, the US assumed that it would dominate the world as the unrivaled hegemon. Yet the US “unipolar” moment proved to be short-lived. US geopolitical dominance ended with the rise of China, the recovery of Russia from the period of Soviet collapse, and the rapid development of India. We have arrived to a new multipolar age. The US still fights to remain world hegemon, but this is delusional and doomed to fail. The US is in no position to lead t
2024.08.27 11:40