Economic Research Forum (ERF)

Jeffrey Frankel

Author

Jeffrey Frankel
Professor at Harvard Kennedy School

Jeffrey Frankel is Professor at Harvard Kennedy School. He serves on the Business Cycle Dating Committee of the National Bureau of Economic Research. His Economics PhD is from MIT. Before Harvard, he was Professor of Economics at the University of California, Berkeley. He served at the US President’s Council of Economic Advisers in 1983-84 and 1996-99.

Content by this Author

Rethinking the macroeconomics of resource-rich countries

After years of high commodity prices, a new era of lower prices, especially for oil, will be challenging for resource-rich countries, which must cope with the decline in income and the potential widening of internal and external imbalances. This column summarises a recent eBook in which leading economists examine the shifting landscape in commodity markets and explore the exchange rate, monetary and fiscal policy options, as well as the role of finance, including sovereign wealth funds and diversification.

A new exchange rate regime for oil-exporting countries

Currency pegs in the Gulf economies have forced monetary policy to be pro-cyclical, exacerbating the effects of swings in the oil market on the business cycle. This column proposes a new exchange rate regime for oil-exporting countries: one in which the currency is pegged to a basket that includes commodities along with currencies.

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The green transition in MENA economies: challenges and policy pathways

The economies of the Middle East and North Africa are at a critical turning point. Global decarbonisation pressures, energy market volatility and technological transformation are increasingly challenging hydrocarbon-based growth models. This column argues that the green transition is not only an environmental necessity but also a strategic economic imperative.

Beyond job creation: how can Egypt’s gender gap in work be closed?

More than 2 million jobs are needed each year to absorb new entrants into Egypt’s labour market and raise the country’s employment rate. The job challenge is even more acute for women, whose labour force participation remains low despite recent gains in education. This column reports on the second Development Dialogue, an ERF–World Bank Group joint initiative, which brought together students, scholars, policy-makers and private sector leaders at the American University in Cairo to consider how the country’s gender gap in work can be closed.

The political economy of algorithms in the Middle East

The Middle East is entering a new political-economic era – one in which algorithms, data and artificial intelligence may become as strategically important as oil once was. Across the region, governments are investing heavily in digital infrastructure, smart governance and AI-driven economic transformation. This column outlines how AI and algorithmic governance are reshaping power, inequality and state capacity in the region.

Digitalisation, global value chains and regional integration in MENA & SSA

Participation in global value chains is vital for countries pursuing structural transformation and inclusive economic development. This column summarises new evidence on how much production processes have been globalised in Africa and the Middle East relative to other regions; whether this process has taken place with partners within or outside the region; and whether it has taken place more in manufacturing or services.

How trade policy can reduce MENA’s cereal import vulnerability

Heavy dependence on imported cereals, combined with climate change, water scarcity and geopolitical uncertainty, continues to threaten food resilience across MENA. This column explains how an inclusive trade policy can play a key role in making the region’s food security less vulnerable to shocks.




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