Martin Hutchinson covers emerging markets and economic policy, drawing on 25 years of experience as an international merchant banker. He ran derivatives platforms for two European banks, before serving as director of a Spanish venture capital company, advisor to the Korean conglomerate Sunkyong and chairman of a US modular building company. In Zagreb he established the Croatian debt capital markets and set up the corporate finance operations of Privredna Banka Zagreb. Since 2000 he has been a financial journalist, and is the author of "Great Conservatives," a book on British political history. He has a first class Honours degree in Mathematics from Trinity College, Cambridge and a Harvard MBA.
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Post-2008 navel-gazing has produced some doubtful notions. Thomas Piketty’s excessively popular wealth theory is one. Others are a déjà-vu fear of stagnation and overdone hopes for monetary policy and regulation. Maybe another year’s Jackson Hole gathering will debunk them.
Marina Silva, set to be the opposition presidential candidate after Eduardo Campos’ plane-crash death, is a fresh threat to Dilma Rousseff. Silva has long fought special interests. If she wins October’s election, a plausible outcome, Brazil could gain from less state meddling.
When growth is slow or when resource wealth is pouring in, developing country governments often ramp up investment programs. An IMF paper shows these surges don’t boost GDP, largely because so much money is wasted. State investments should progress with the rest of the economy.
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- Colombia sets example for U.S. and Africa alike
- Investment is America's key to African riches
- Old-style IMF sado-austerity suits Ghana
- Steady U.S. jobs one facet of new, rockier normal
- U.S. GDP gyrations obscure still slow, steady growth