Finance and Development Magazine

Finance & Development

Artist Jun Cen

Artificial intelligence | December 2023

The AI Awakening

Generative AI has introduced tantalizing new possibilities. Yet the initial excitement surrounding AI has given way to genuine and growing concerns. This issue is an early attempt to understand AI’s implications for growth, jobs, inequality, and finance.

EDITOR'S PICK

Artificial intelligence | December 2023

The Macroeconomics of Artificial Intelligence

The collective decisions we make today will determine how AI affects productivity growth, income inequality, and industrial concentration

ERIK BRYNJOLFSSON

GABRIEL UNGER
Artificial intelligence | December 2023

Rebalancing AI

The drive toward automation is perilous—to support shared prosperity, AI must complement workers, not replace them

DARON ACEMOĞLU

SIMON JOHNSON
Artificial intelligence | December 2023

Scenario Planning for an A(G)I Future

AI may be on a trajectory to surpass human intelligence; we should be prepared

ANTON KORINEK

Artificial intelligence | December 2023

Harnessing AI for Global Good

Maximizing the benefits of artificial intelligence and managing the risks will require innovative policies with global reach

Growth slows, risks abound, but economic and financial collapse can be avoided

Monetary policy | December 2023

China Stumbles but Is Unlikely to Fall

Growth slows, risks abound, but economic and financial collapse can be avoided

Eswar S. Prasad

Inflation

Inflation | December 2023

History’s Inflation Lessons

A study of 100 inflation shocks since the 1970s provides valuable pointers for policymakers today

finance and development

Issues Archive | Download PDF

Subscribe now for cutting-edge research and analysis of key economic, finance and development issues including climate change, corruption, digital currencies, trade, inequality and more...

UPDATES | FREE PRINT

Artificial Intelligence

Artificial intelligence | December 2023

AI Lexicon

A brief guide to Artificial Intelligence lingo

;

AI in Practice

AI Health

Artificial intelligence | December 2023

AI’s Healing Powers

Artificial intelligence shows promise in medicine, but there are recognized drawbacks and risks

KERRY DOOLEY YOUNG

Tea plantation in Hangzhou, China: AIdriven smart agriculture provides tremendous potential for boosting food security and to reduce or even end hunger in many regions.

Food security | December 2023

Growing More with Less

In the battle against hunger, AI can help fewer farmers generate more food

AI Army

Artificial intelligence | December 2023

New Model Army

AI has accelerated shifts in battlefield dynamics, and policymakers are playing catch-up

JEREMY WAGSTAFF

Point of View

AI Gov

Artificial intelligence | December 2023

Building Blocks for AI Governance

Policymakers must adhere to five guiding principles to govern AI effectively

MUSTAFA SULEYMAN

Artificial intelligence | December 2023

Fostering More Inclusive Democracy with AI

AI can enhance democratic institutions by ensuring citizens’ voices are truly heard

HÉLÈNE LANDEMORE

Illustration by Joan Wong

Artificial intelligence | December 2023

Unlocking India’s Potential with AI

India is on the brink of a transformation that could change its economic and social future

NANDAN NILEKANI

Back to Basics

Artificial intelligence | December 2023

Artificial Intelligence’s Promise and Peril

Generative AI is poised to unleash a wave of creativity and productivity but poses important questions for humanity

HERVE TOURPE

Migrant labor | September 2023

Resilient Remittances

The money that migrant workers send home provides stable income to millions of people in developing economies

Dilip Ratha

Protectionism | June 2023

Subsidy Wars

Cooperation and common understanding could dial back trade tensions

ELIZABETH VAN HEUVELEN

Inflation | March 2023

Price Prediction

Today’s inflation expectations are likely to become tomorrow’s inflation reality

Francesco Grigoli

More

PICTURE THIS

Financial safety nets | December 2023

Global Financial Safety Net

In a more shock-prone world, strengthening the financial safety net is more important than ever

Population and demographics | September 2023

African Century

A demographic transformation in Africa has the potential to alter the world order

Globalization | June 2023

Globalization’s Peak

Trade plateaus and restrictions rise, marking a new era for globalization

IMF/ Adobe Stock

Monetary policy | March 2023

Forces At Play

Advanced economies are contending with several major long-term structural changes that will affect the way monetary policy is conducted.

More

PEOPLE IN ECONOMICS

PIE

Labor | December 2023

Lawrence F. Katz: The Inequality Economist

Bob Simison profiles Harvard’s Lawrence F. Katz, whose research changed economists’ understanding of economic disparity

Minouche Shafik

Economic theory | September 2023

Minouche Shafik: The Everywhere Economist

Our People in Economics profile of Columbia’s Minouche Shafik, whose career spans international development, central banking, and writing on the social contract

IMF/Joshua Roberts

Trade policy | June 2023

Anne O. Krueger: World Trade Defender

Bob Simison profiles Anne O. Krueger, whose research helped build the global trading system that’s now under attack

IMF/ Adobe Stock

Monetary policy | March 2023

Lars Svensson: Central Banking Revolutionary

Prakash Loungani profiles former Swedish central banker Lars E.O. Svensson, a leader of the inflation-targeting revolution

PRAKASH LOUNGANI

More

Currency Notes

Currency Notes

Currencies | December 2023

On the Brink

Catalyzing support for the Philippine national bird could stem its rapid decline.

ANALISA R. BALA

GIUSEPPE CACACE/ Getty Images

Money | September 2023

Reaching for the Red Planet

The United Arab Emirates honors the visionary behind the country’s ambitious space program

ANALISA R. BALA

Money | June 2023

Face Value

Many Commonwealth countries are reconsidering whom to feature on their banknotes

Love cricket

Currencies | December 2022

For the Love of Cricket

Barbados’ $5 banknote pays tribute to the man who united West Indian cricket

ANALISA R. BALA

More

Book Reviews

Climate change | December 2023

Risk and Resilience in the Era of Climate Change

Raising the base of a house and mixing cement into its earth foundation make it less likely to collapse in a flood.

Income inequality | December 2023

Thinking about Inequality

Rising economic inequality in many countries, especially the rich ones, in recent decades has emerged as an important topic of political debate and a major public policy concern.

Economic theory | December 2023

The Flourishing Society

Among the early graduate school memories of many macroeconomists are the “golden rule” of saving, the micro-foundations of wage and employment theory, and structural theories of unemployment

Income inequality | September 2023

A Wide-Angle View of Inequality

Economics in America: An Immigrant Economist Explores the Land of Inequality (Book Review)

More

December 2023: Artificial Intelligence

What AI means for economics

The Macroeconomics of AI

The Macroeconomics of Artificial Intelligence
Rebalancing AI
Scenario Planning for an A(G)I Future
Technology’s Bifurcated Bite
AI’s Reverberations across Finance
Technology for Development
AI Lexicon

Analytical Series

Editor's letter

The AI Awakening

Also in this Issue

Back to Basics

Artificial Intelligence’s Promise and Peril

Point of View

Picture This

Global Financial Safety Net

People in Economics

Lawrence F. Katz: The Inequality Economist

Straight Talk

Harnessing AI for Global Good

Book Reviews

Currency Notes

On the Brink

More

Latest Issues

December 2023

September 2023

June 2023

New Directions for Monetary Policy

March 2023

More