Will South Koreans earn higher wages than the French, Germans, Americans and Brits in twenty years or so? Perhaps, according to a study published on Thursday by professional services firm PwC. Continue reading »

By Shaomin Li and Seung Ho Park of the Skolkovo Institute for Emerging Market Studies, Moscow

If you suggest that Egypt, Morocco, and Bangladesh could be the next bright spots for high economic growth, you might get some sceptical reactions.

But this is outcome of our recent study on productivity. We found that culture influences productivity – and that productivity flourishes among people that rate long-term financial planning, entrepreneurial risk-taking, and family values, and who, controversially, prefer political stability to political freedom. On this basis, Egypt, Morocco and Bangladesh will all do well. Continue reading »

Well, they thought it was going to be bad. But not this bad. Consumer price inflation in Brazil was 0.88 per cent in the month to mid-January and 6.02 per cent over the previous 12 months, the IBGE, the national statistics institute, said on Wednesday.

On Monday, the central bank’s weekly survey of market economists showed inflation expectations were creeping up: the consensus for January had risen to 0.81 per cent from 0.78 per cent a week earlier. But Wednesday’s figure was off the chart. Continue reading »

By Marcos Troyjo of Columbia University

The timid expansion of Brazil’s GDP in the past 12 months at under 1 per cent deals a hard blow to the notion that its policy makers had devised an economic model uniting high growth with social inclusion. This sweet dream is over. It is wrong to assume that the set of policies Brazil has put in place in the past few years to boost its economy and upgrade its social data are pillars of a new development model. Continue reading »