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Bailouts Create a Moral Hazard Even if They're Justified. Is There Another Way?

BWC member Hung Tran argues "a much better approach would have been to protect large depositors up to the value of the closed banks’ high-quality bond portfolios, which are eligible as collateral to borrow from the newly launched Bank Term Funding Program."

Barron’s 100 Most Influential Women in US Finance

BWC member Afsaneh Beschloss, founder and CEO of RockCreek was named to Barron’s 100 Most Influential Women in US Finance list for the second year in a row. The list honors leaders in the financial services industry who have made outsized contributions to strengthening the US financial system.

Beware the Government Debt-to-GDP Ratio

Government debt levels around the world are rising fast as governments run up large budget deficits because of the pandemic-induced recession. In judging the level of government debt, and how much of a potential problem it might be storing up for the future, a universally cited metric is the nominal government debt-to-GDP ratio, the amount of government debt expressed as a percentage of gross domestic product. 

Quoting government debt levels as a percentage of GDP is misleading. 

Beyond the Brink - Live with Dee Smith & Raoul Pal

What does life look like on the other side of COVID-19? This is a question that just about everybody on the planet is asking themselves at this point in time.

Beyond the Numbers: Why the World Needs a More Ambitious MDB Response to COVID-19

A recent CGD paper and the World Bank’s response  focused on precisely how much financial support the Bank is likely to provide this year to low- and middle-income countries (LMICs) and whether this would match with targets the institution set for itself at the start of the COVID-19 pandemic.

Biden Should Implement a “Yellen Bond” Plan for African Debt

The OECD has estimated that external capital inflows to emerging market countries shrank in 2020 by about $700 billion relative to 2019.

Biden's 'Breakthrough' Crypto Executive Order

Former Andreessen Horowitz Head of Global Policy Tomicah Tillemann, now taking part in Katie Haun's new crypto firm, joins Emily Chang and Bloomberg's Sonali Basak for a deep dive into U.S. President Joe Biden's crypto executive order and why he thinks it is a "breakthrough moment for democracy." He also shares his views on the role of crypto in the war in Ukraine, and how it is revolutionizing humanitarian aid efforts.

Blockchain’s Broken Promises

Boosters of blockchain technology compare its early days to the early days of the Internet. But whereas the Internet quickly gave rise to email, the World Wide Web, and millions of commercial ventures, blockchain's only application – cryptocurrencies such as Bitcoin – does not even fulfill its stated purpose.

Bretton Woods 4.0 Finding New Relevance in a New World Order

Institutions are products of their time, and essentially all have sell-by dates. They typically arise to meet a given challenge, and if proven durable become embedded in the fabric of their environment—at least, up to a point. 

Bretton Woods and Emerging Markets Investment: Toward A New Golden Age

Both the Committee and emerging market investment field have been in existence for roughly half the period of the 75-year history of the Bretton Woods institutions.