Good public policy ensures governments effectively manage society’s resources while balancing conflicting objectives. This is no simple task, and our guidance of policy development uses economics to cut through what are often difficult issues.
Economics for a globalised world
Freeing up trade in goods and services has been a potent force for economic growth and development over the last few decades.
And the nature of trade is changing: from exchanging finished goods, nations are increasingly trading in specialist tasks in supply chains that span continents. This has made economies even more interconnected, and has expanded the range of issues with which policymakers and businesses need to engage.
Border measures such as tariffs are no longer the sole or even primary focus of trade negotiators. Increasingly, what matters are issues like intellectual property protection, or how to reconcile domestic regulation with concerns about avoiding unnecessary barriers to trade.