How Multinationals Shift Profits Across Borders
The legal architecture inside a multinational firm determines where taxable profit lands, a structural guide to transfer pricing and entity design.
WorldWhy Sanctions Always Spawn Grey Markets First
Economic sanctions create grey-market workarounds faster than enforcement can close them. The structural reason lies in the system's own design.
BusinessWhat Sovereign Bond Yield Spreads Really Signal
When a government says one thing and its bond market says another, the spread records the verdict. A guide to reading what the numbers actually mean.
BusinessPension Liabilities and the Debt Governments Don't Show
Public pension obligations can dwarf headline debt figures, yet most budget documents omit them. A look at the accounting choices that obscure the true picture.
BusinessShadow Bank Balance Sheets and Systemic Risk
A shadow bank's balance sheet conceals risks that conventional ratios miss. The structure itself reveals where systemic danger accumulates, and why it matters.
Long ReadsWhy Some Resource-Rich Nations Escape the Resource Curse
Commodity wealth hollows out Angola while leaving Norway intact. The difference is institutional sequencing, what existed before the money arrived.
BusinessCapital Controls: Do They Stop Currency Crises?
Capital controls can stabilize a currency under pressure or trigger the panic they meant to prevent. Timing, design, and credibility decide which.
BusinessWhy the Order of Economic Reforms Decides Everything
Sequencing economic reforms badly can turn growth into a decade of contraction. The order of liberalisation, stabilisation, and institutions shapes outcomes.
BusinessFiscal Multipliers in Open Economies: What the Models Miss
Fiscal multipliers shrink sharply in open economies. The mechanism, the math, and the persistent errors governments make on stimulus spending.
SecurityThe Quiet Professionalisation of Crypto Security Audits
Bug bounties grew up, audit firms consolidated, and exploits finally started trending down.
BusinessWhy Export-Led Growth No Longer Works as It Once Did
The strategy that lifted South Korea and Taiwan into prosperity keeps failing their successors. Structural shifts in automation, trade, and demand explain why.
BusinessBilateral Investment Treaties and the Shifting of Legal Risk
Bilateral investment treaties transfer legal risk from foreign corporations onto host states and their citizens, with measurable consequences for public policy.