Global private capital flows have barely touched the poorest nations; the rich invest mostly with the rich. Confronted with this wealth bias in cross-border investment flows, one of the starkest facts of the global economy, theorists and empiricists have spent roughly the last decade looking for...

The global economy continued to recover in the winter semester, despite the number of new infections with the coronavirus rising sharply and containment measures tightened again in many countries. Industrial production and world trade have already fully catched up with activity levels before the...

Global growth has decelerated over the course of the year under the impact of high energy prices and great uncertainty. Monetary policy, which is being tightened very quickly in view of high inflationary pressure across the board, is now also putting a drag on economic activity. Overall,...