Stock Markets EM FX ended Friday on a mixed note, capping off a largely softer week. Best performers last week for MYR and TWD while the worst were ZAR and ARS. US stocks clawed back early losses and ended the week on a firmer note but we think further market turbulence is likely. Stock Markets Emerging Markets, March 03 Source: economist.com - Click to enlarge Malaysia Malaysia reports January...
Read More »The World Bank’s Doing Business project claims to provide objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level. In the Wall Street Journal, Josh Zumbrun and Ian Talley report that the ranking must be revised. Over time, World Bank staff put a heavy thumb on the scales of its report by repeatedly changing the methodology that was used to calculate the country rankings, Mr. Romer said. The focus of...
Read More »On Project Syndicate, Andres Velasco argues that one of the sources of the current problems with the Chilean pension system are the high fees charged by fund managers: A government-appointed commission recently concluded that managers have generated high gross real returns on investments: from 1981 to 2013, the annual average was 8.6%; but high fees cut net returns to savers to around 3% per year over that period. The commission’s report.
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