Public Debt Management in Wartime: Interview with Ukraine’s Yuriy Butsa

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Even in normal times, meeting a government’s funding needs through borrowing can be challenging. Wartime conditions – including suddenly increased borrowing needs, a loss of market confidence and operational difficulties – make it even harder. In this interview, Yuriy Butsa, Ukraine’s Government Commissioner for Public Debt Management, answers questions about the challenges Ukraine has faced to date as a result of Russia’s large-scale aggression and about his near-term expectations.

Blockchain knows no borders: How can global governance meet the challenge?

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The latest report from the OECD’s Global Blockchain Policy Forum underlines the opportunities for blockchain to support cross-border economic activity, and the need for international cooperation to realise these benefits and mitigate risks to global governance. OECD’s Oliver Garrett-Jones unpacks what this means for governments and industry, and where international efforts are headed.

Not-so-stable coins: a double-edged sword for decentralised finance and the key bridge linking DeFi to TradFi

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Institutional investors are increasingly participating in digital asset markets and this can pose investor risks at the micro-level while potentially creating channels of contagion between DeFi and traditional finance (TradFi). OECD’s Iota Nassr considers the multitude of potential risks involved in the growing crypto-asset and DeFi markets and the role policy makers can play to evaluate and address these risks.

Why are global FDI flows falling and what can governments do?

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Global flows of foreign direct investment (FDI) have been declining for several years, well before the pandemic hit in early 2020. While these flows can be cyclical, as with any other type of investment, they have been falling both in absolute amounts and relative to overall GDP for several years, causing many to wonder whether there has been a structural change in the global economy. OECD’s Stephen Thomsen takes a look at this worrying trend and at what governments can do about it.

Rising to the challenge of competition enforcement in digital markets

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Regulation and competition enforcement in digital markets are hot topics as regulators become increasingly concerned about the market power and growing influence of large digital platforms. Philip Marsden shares his thoughts on how best to deal with anticompetitive conduct and transactions in digital markets and the role the OECD can play in designing effective rules and enforcement initiatives.

From “DeFi summer” to “crypto winter”: leverage, liquidations and policy implications

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Decentralised Finance or ‘DeFi’ is the latest development in the crypto-asset space, and claims the potential to replicate the traditional financial system in an open, decentralised, permissionless and autonomous way, through applications built on the blockchain. Given the rapid growth of DeFi and commensurate risks, OECD’s Iota Nassr highlights why policy makers need to monitor this market closely and eventually take action to mitigate emerging risks.

The important role of competition authorities in promoting competitive neutrality

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The competition policy community often focuses on the actions of companies, but the state may also adopt measures that significantly distort the competitive landscape. In the run-up to the 2021 Global Forum on Competition, the OECD’s Jordi Calvet Bademunt and Sophie Flaherty analyse how state intervention can affect competitive neutrality and the main tools available to competition authorities to help ensure a level playing field.