This one-day workshop will focus on hybrid threats in the context of the financial system by examining vulnerabilities and raising awareness, looking for solutions in the form of effective protection measures and improved resilience.
In the last decade, most advanced economies have grown more slowly than before. Slower growth has frequently been seen as a legacy of financial crises, especially that of 2007–2009.
How do states exercise power through global economic networks? The multilateral world order is supposed to be harmonious, but by seizing the nodes of production, powerful forces can control access to the global economic system and threaten to lock their rival out. This week, Nicholas Barrett and Guntram Wolff are joined by Henry Farrell, Professor of political science and international affairs at the George Washington University, and Abraham L. Newman, Professor of Government at the Georgetown University, to discuss their theory of weaponised interdependency
The U.S. and China’s negotiations on a phase-one deal seem to have stalled again. The market was already aware of the limited nature of the likely deal, but was still hoping for it. Against this backdrop, the investors have reacted negatively to the increased likelihood of not reaching a deal on December 15. If this is the case, the U.S. will apply additional tariffs on Chinese imports. The obvious question to address, thus, is, what can happen to China under such a scenario?
Small European firms are falling behind in the race to digitalise, but so are their American counterparts.
Recent developments have re-opened the debate on the future of money. This Policy Contribution discusses two aspects: the implications of the rise of global private stablecoins, such as Facebook's Libra, and the role that public central bank digital currencies could play.
Over the past few years, new business models have emerged, empowered by digital technologies. These have disrupted a range of activities, from food delivery and transportation to accommodation and venture capital. Digital companies and their new business models collectively make up the so-called platform or collaborative economy. New forms of work have been created posing the question: How can the social contract catch up?
Buying a car, a house or a cryptocurrency has never been easier: with a simple click, digital banking has made financial operations accessible to everyone. But, while Fintech has become widespread, financial literacy does not seem to keep up the pace. This week Maria Demertzis and Nicholas Barrett are joined by Annamaria Lusardi, Denit Trust Endowed Chair of Economics and Accountancy from George Washington University School of Business to discuss financial literacy.
How to ensure the safe use of digital payments and other technological innovations in the area of personal finance?
Today banks are facing competition from non-bank firms whose core strategy is based on technological innovation - Big Tech and Fin Tech. What is in store for the future of banking?
Commissioner Vestager has been given two portfolios; Executive Vice-President for a Europe fit for the Digital Age and Competition Commissioner. While having more than one portfolio may not be new, combining an important policy coordination function and an enforcement function is a novel approach. This raises a number of important questions related to how the objectives of either portfolio can be delivered cleanly.
FinTech and Big Tech firms are both increasingly stepping on banks’ traditional turf. This column introduces the 22nd Geneva Report on the World Economy, which looks at the challenges generated by new technology-enabled entrants to the global banking industry and the public authorities that oversee it. It argues that to respond adequately to the FinTech/Big Tech challenge, authorities will need to raise their game and enter uncharted territories.