Markets

A notable element of South Korea’s general elections in April 2016 was the hypervisibility of anti-gay political rhetoric, promulgated especially by the fledgling Christian Liberal Party (CLP). An ultra-conservative Protestant political party established in March 2016, the CLP ultimately failed...

Sterling is continuing to move lower.  It has tested the $1.3050 area in the North American morning, having been under pressure through the Asian session and the European morning.  That the UK economy is slowing down, materially, as BOE Governor...

EM and risk recovered nicely from the Brexit turmoil last week.  Yet we think markets are being too carried away with the "low rates forever" theme and are likely underestimating the capability of the Fed to tighten before 2018.  This...

Whatever its final impact, in the short-term the UK’s EU referendum will increase global economic uncertainty, market volatility and economic risk. In Africa, most scenarios will prove costly, particularly among those economies highly exposed to UK trade, investment, banking and...

What happened to the innovation debate in our lengthy election campaign? This was supposed to be the centrepiece of Australia’s transition to a more balanced and diversified economy. Instead the debate is once again about who can return the budget...

Indonesia’s parliament approved a tax amnesty bill, Korea announced KRW20 trln ($17 bln) in fiscal stimulus, Czech President Zeman said a referendum on EU and NATO membership should be held, Russia ended its tourism ban to Turkey, Brazil’s central bank...

Public debate over how best to manage the interests of foreign investors and host states has resurfaced in Australia. Most of Australia’s free trade agreements (FTAs), like those of many other Asia-Pacific economies, follow a US approach to drafting substantive...

As a country prone to natural disasters, especially earthquakes, tsunamis and typhoons, Japan has a long history of disaster education. However, what does Japan’s public disaster education look like and how should it be further developed? Broadly speaking, disaster education...

In the current housing tax debate a number of studies have come out arguing that while prices will fall (by varying amounts) rents will not be affected. That rents will be unaffected is surprising and (in my view) wrong. Outside...

Some observers argue the media and some economists are exaggerating the impact of the UK vote a week ago. They talk about the petition for a second referendum. They talk about Scotland vetoing the decision to leave the EU.  They...

Prime Minister Abe is attempting to revitalise the Japanese economy after two decades of stagnant growth. In December 2012, he launched the reform program that became known as Abenomics, consisting of monetary policy aimed at reflating the economy, flexible fiscal...

The surprise announcement last week that Raghuram Rajan, Governor of the Reserve Bank of India, was stepping down sent shockwaves around the world. Rajan, a brilliant academic who came from the University of Chicago to take up the appointment under...

After two years of the Modi government, the Indian economy presents a mixed picture. Despite claims that it is the fastest growing large economy in the world, doubts linger about its actual health. These doubts stem from confusion about GDP...

Japan registered a travel surplus of about US$10.6 billion in 2015, suggesting its growing competitiveness as an exporter of tourism. According to the Japan National Tourism Organisation (JNTO), the number of inbound tourists increased by 47.1 percent to 19.7 million...

The Brexit vote is a game-changer for EM.  While the direct impact on EM is limited, the damage to market sentiment is undeniable.  In addition, to make matters worse, there will be a protracted period of uncertainty as the UK...