The Next Convergence
In The Next Convergence, Michael Spence succinctly describes how the recent period of growth in developing countries is leading to a convergence with the advanced countries, or developed world.
Distinguished Visiting Fellow
Growth and development economics and policy, structural change in the global economy, impact on advanced and developing countries, informational structure of markets, growth and policy in the major emerging markets; China, India, Brazil.
In The Next Convergence, Michael Spence succinctly describes how the recent period of growth in developing countries is leading to a convergence with the advanced countries, or developed world.
Jobs growth was slow in May, renewing pessimism about the U.S. economy.
This Working Paper analyzes trends in the American economy's performance over the past two decades; in particular, it examines changes in employment and value added in U.S. industries.
Michael Spence surveys a variety of economic development models, highlighting the problems of long-term sustainability inherent to each.
See more in Economics, Economic Development, Emerging Markets, Geoeconomics, Labor, Trade
Michael Spence writes that myopic U.S. energy policies highlight the need for persistence, longer-term thinking, and bipartisanship in U.S. policymaking.
See more in United States, Economics, Economic Development, Geoeconomics, Industrial Policy, Energy/Environment, Energy, Energy Security, Natural Resources Management
To achieve sustainable economic growth, Michael Spence says education and values must promote greater awareness of the consequences of individual and collective choices.
See more in Economics, Economic Development, Financial Crises, Geoeconomics
Michael Spence wants to rethink the role of the state in addressing the problems of instability and inequality that are endemic to free-market systems.
See more in Economics, Economic Development, Geoeconomics, Industrial Policy
Experts forecast the five most consequential trends in 2012, following a year in which the global economy struggled amid high unemployment and mounting debt crises.
See more in Economics, Geoeconomics
Michael Spence says too much blame has been heaped upon currencies for the West's economic woes.
See more in Economics, Financial Crises, Geoeconomics
Michael Spence says Italy can be saved only if both it and the European Union commit boldly and unconditionally to aggressive action on stabilization and reform.
See more in Italy, EU, Economics, Financial Crises, Geoeconomics
Michael Spence and Mohamed El-Erian explain how a fundamental review of the way political decisions are made in the United States and Europe can improve policymaking.
See more in United States, EU, Economics, Economic Development, Geoeconomics
Michael Spence presents three major employment challenges facing the global economy as it undergoes massive structural change.
See more in Economics, Economic Development, Geoeconomics, Labor
Is globalization to blame for rising unemployment and income inequality in the United States?
See more in Geoeconomics, Poverty
Michael Spence writes that structural change and expansion in the tradable sector will be necessary to restore U.S. economic growth.
See more in Economics, Financial Crises, Labor, Trade
Michael Spence argues reduced deficits, restored demand, and investments in productivity and competitiveness can help turn the economic tide.
See more in Financial Crises
Amid fears of another global recession, investors are focused on U.S. policymakers. Restoring confidence in the world's largest economy will require both national sacrifice and innovation--not more Fed intervention, says CFR's A. Michael Spence.
See more in United States, Economics, Financial Crises
Michael Spence says recent worldwide market volatility is the result of weak economic fundamentals and disappointing policy responses.
See more in Economics, Financial Crises, Geoeconomics
Michael Spence argues that advanced economies must adopt a flexible policy attitude toward long-term structural changes if they are to bounce back from the 2008 crisis.
See more in Economics, Economic Development, Financial Crises
Michael Spence says the temporary effects of a stimulus package will not fix the lasting effects of structural change.
Jobs growth was slow in May, renewing pessimism about the U.S. economy.
Michael Spence surveys the rocky road to recovery that lies ahead of both advanced and emerging economies.
See more in Economics, Emerging Markets, Financial Crises, Geoeconomics, International Finance
Michael Spence emphasizes the importance of a fair and open selection process in choosing the IMF's next leader.
See more in Economics, Emerging Markets, International Finance, IMF
Michael Spence describes how Asia's emerging economies will have to incorporate sustainability into their plans for growth.
See more in Asia, Economics, Economic Development, Comparative Environmental Policies, Natural Resources Management
58 East 68th Street
New York, New York 10065
CFR Distinguished Visiting Fellow
| Jonathan Hill |
Foreign Affairs Managing Editor Jonathan Tepperman interviews Nobel Prize-winning economist Michael Spence on current trends in unemployment, government spending and policy, the speed of globalization, and Obama's options for a troubled economy.
In this interview with France 24, Michael Spence explains why he believes the euro is not out of the woods yet.
Peter Robinson of Human Events magazine's "Uncommon Knowledge" video series talks with Michael Spence.