NEW DELHI—Multilateral development banks (MDBs), chief among them the World Bank, were established to provide capital to developing countries that couldn’t raise it at home or on affordable terms abroad. For decades they filled that gap. But as more countries move from low- to middle-income status (according to the World Bank’s classification), and the global financial environment becomes more challenging, the role of MDBs must evolve, too.

Jason Fochtman/Houston Chronicle via Getty Images Innovation 5 The Tech-MAGA Breakup Is Coming Stephen Holmes thinks the deepest fissure opening up in Donald Trump’s political base runs through the US electrical grid.

The Tech-MAGA Breakup Is Coming

ismagilov/Getty Images Longer Reads 10 The Mismeasurement of Europe’s Productivity Philippe Aghion, et al. The recent claim by a leading economist that the productivity gap between Europe and the US is a statistical mirage is demonstrably wrong. It is also dangerous to the extent that it lends support to those who claim that no major change in European growth and innovation policy is required. rebut the Nobel laureate economist Paul Krugman's recent claim that the gap with the US is a statistical mirage.

The Mismeasurement of Europe’s Productivity

The recent claim by a leading economist that the productivity gap between Europe and the US is a statistical mirage is demonstrably wrong. It is also dangerous to the extent that it lends support to those who claim that no major change in European growth and innovation policy is required.

Ronny Hartmann/AFP via Getty Images Economics 1 Why Isn’t Europe Poorer Than the US? Dalia Marin Nobel laureate Paul Krugman has a point when he says that European living standards have largely kept pace with those in the US, despite flagging growth and innovation. But this will not remain true indefinitely: restoring Europe's ability to compete at the technological frontier remains essential to its future........

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