Since the beginning of the COVID-19 crisis, funding health care has become a major topic. It requires rethinking the major funding systems and reviewing the concepts and controversies related to health care funding, international comparisons of current reforms, and analyses of the macroeconomics of health care funding.
For France, the debates on billing according to treatment, the role of complementary health insurance, and the implementation of preventive policies are reviewed.
Finally, public funding of health care and the pandemic is examined, as well as the resilience of our systems to rationing.
For decades emerging countries have been steadily increasing their sovereign borrowing. Debt issuance took off with the COVID crisis and should remain at a high level as long as governments are forced to take measures to deal with the drop in demand subsequent to the pandemic.
The pandemic crisis is worldwide, interest rates remain low, global debt has risen sharply, and the issue of emerging countries’ debt is still under debate.
The liquidity crisis tied to the COVID-19 pandemic could turn into a solvency crisis, forcing several countries to restructure their public debt. The evolution of financing tools and the emergence of new creditors require greater international coordination and a reinforcement of the existing structures.
Recent developments in financing show that investors and public issuers are interested by regional bond issuances.
One of the topics under debate concerns how debt cancellation can best be used to get the economy going again and to improve human development indicators.
This issue of the Revue d’économie financière also takes up the 2015 debt crisis in Argentina and the importance of the independence of the central bank in resolving the crisis.
This issue of the Revue d’Economie Financière is being published in collaboration with the journal Risques. It examines reactions to the Covid-19 crisis and provides a broad overview of the consequences for corporations, for the banking sector, and for insurance and asset management. It also looks at economic policy implications and how the crisis has completely transformed the understanding of the global economy. The special issue also addresses geopolitical consequences and lessons from the history of pandemics, bringing together thirty-eight academic contributions as well as analyses and reactions of financial, banking, asset management, and insurance players.
This issue of the Review deals with a rapidly growing branch of finance, climate finance. Under the pressure of recent developments, finance has indeed evolved considerably and quickly in recent years by including the need to take into account the consequences for the climate of various modes of financing. This issue of the Review provides a comprehensive overview of the changes at work in the finance sector and of the latest developments. The main issues and new practices are reviewed, from measuring and controlling risk to the practices of central banks and portfolio managers, including the questions of indicators as well as of corporate and investor behavior.
This issue of the Review proposes assessing financial deregulation, which began in the United States and the United Kingdom roughly forty years ago. It did away with the many regulations that had placed limits on the financial system and aimed to increase the efficiency of the economic system by offering a model based more on market financing. Two sections of this issue are devoted to the differing reasons behind this movement and the forms it took in the main economies, as well as the changes in the behavior of the various economic agents that it led to. A third section deals with the financial crises that followed and the new regulations put in place. Finally, a fourth section is devoted to the specific impacts of these reforms on international capital flows.