Michael Spence

For Michael Spence's latest contributions to The Japan Times, see below:

Emerging vulnerabilities in emerging economies

Commentary / World Aug 27, 2018

Emerging vulnerabilities in emerging economies

For many emerging economies, it is imperative to pursue a rebalancing of growth patterns, with a more active approach to managing debt and capital flows and their effects on asset prices, exchange rates, and growth. Otherwise, the dangers of unsustainable growth patterns will bring ...

Making migration work

Commentary / World Jan 29, 2018

Making migration work

The U.N. is right to underscore the benefits of broad-based international cooperation on migration, but to be politically acceptable in virtually any country, such cooperation must respect national sovereignty.

Commentary / World Nov 30, 2016

Brexit, Trump and a new economic order

Multilateralism is giving way to national self-interest. As inequality across countries has declined, inequality within countries has surged — to the point that the reversal of priorities was probably inevitable.