If Russia initiates institutional reforms, the value of Russian assets could easily double.

As Russians voted for a new president on Sunday, their country was back in fashion with foreign investors.

Not long ago, the government had based its revenue and spending plans on an average oil price of $75. At that level, the budget deficit was supposed...

Despite the agreement earlier this week on raising the U.S. debt ceiling, the U.S. sovereign rating will likely be downgraded soon. But even so, it...

The theory that free trade and free capital flows are always good is increasingly under attack. Even at the International Monetary Fund, the old orthodoxy...