When monetary policy becomes subordinate to fiscal policy

The Dow Jones Industrial Average's recent "flash crash," in which it plunged by nearly 1,600 points, revealed just how addicted to expansionary monetary policy financial markets and economic actors have become. Prolonged low interest rates and quantitative easing have created incentives for investors to take inadequately priced risks. The longer...

Preparing for LDC graduation

Bangladesh has crossed the per capita income level of $1,045 and become a lower middle-income county. The country is now in the process of graduating from the status of least developed country (LDC) to that of developing country as categorised by the United Nations (UN). The World Bank (WB) has...