economy

Economists who study international development often focus on measuring countries’ aggregate and per-capita volumes of output. However, the mix of industries and products — the diversity within an economy — is an important and under-appreciated variable in predicting potential growth, according to scholars at the Center for International Development at the Harvard Kennedy School.

The record-breaking number of home foreclosures in recent years has prompted calls to ban subprime mortgage financial instruments. But there are a variety of types of subprime loans, and not all may be associated with higher default rates.

As supply chains stretch around the globe, scrutiny of working conditions in distant factories has increased. But international labor standards often depend on corporations engaging in “private voluntary regulation,” and even when such standards are adhered to, factory floor dynamics may determine their actual effectiveness.