We estimate ex post returns to emerging market debt by combining secondary-market prices with observed flows based on World Bank data. From 1970-2000, returns averaged 9 percent per annum, about the same as returns on a ten-year U.S. treasury bond. This reflects the combined effect of the 1980s...

The Economist first launched the concept of the Big Mac Index in 1986 as a guide to whether currencies were at their correct exchange rate; it is not intended to be a precise predictor of currency movements around the globe, but simply a way to make exchange-rate theory and discussions a bit more...

Purpose The author presents practitioners with an overview of experts’ outlook for China econmic future. While some observers see the likelihood of a decade of continued rapid growth ahead, others see major economic challenges on the horizon. Design/methodology/approach To better understand...

This article investigates the extent to which the dominance of the United States (U.S.) dollar as an international currency has been contingent on American diplomacy rather than the prosecution of expensive wars. Four wars are examined, the Korean War (1950-1953), the Vietnam War (1964-1975),...

This article investigates the extent to which the dominance of the United States (U.S.) dollar as an international currency has been contingent on American diplomacy rather than the prosecution of expensive wars. Four wars are examined, the Korean War (1950-1953), the Vietnam War (1964-1975),...