June 9, 2021

The natural interest rate in China

Share on twitter
Share on whatsapp
Share on facebook
Share on linkedin
Share on email
Share on reddit

Listen to our reports with a personalized podcasts through your Amazon Alexa or Apple devices audio translated into several languages

Originally published on by Bank of International Settlements . Link to original report

( < 1 min)

We estimate the natural interest rate in China. The natural interest rate averaged between 3 and 5 per cent between the late 1990s and 2010, but declined over the next decade to around 2 per cent. We attribute around two-thirds of the decline in China’s natural interest rate to a lower rate of potential output growth. As the decline in the natural interest rate in China mirrors that observed in many other economies, it is possible that global factors explain part of the decline in the natural rate not explained by lower growth.

Read Full Report

NIGERIA: Goodluck Jonathan’s potential comeback

( 3 mins) Rumors that former president Goodluck Jonathan (2010-2015) may soon be defecting from his People’s Democratic Party (PDP) to the All Progressives Congress (APC) to become the ruling party’s flagbearer for the 2023 presidential election may

Read More »

MACRO: Policy responses to Covid-19

( < 1 min) Below is our weekly summary table on the health and economic policies that selected governments around the world are implementing to counter the fallout from Covid-19. The updated table includes information about each country’s vaccination

Read More »


( 5 mins) This week, Argentina has a new cabinet after Vice-President Cristina Fernandez (CFK) flexed her political muscles in the wake of the 12 September mid-term primaries. In Brazil, a report from the Senate inquiry into the

Read More »


( 6 mins) Russian President Vladimir Putin’s party won the State Duma elections. Voters will go to the polls in Germany. Turkey’s central bank could start easing monetary policy. Meanwhile, China is defending its recent crackdown on tech

Read More »

How Arkansas implemented its computer science education program

( 4 mins) Computer science (CS) education helps students acquire skills such as computational thinking, problem-solving, and collaboration, among others. It has been linked with higher rates of college enrollment (Brown & Brown, 2020; Salehi et al., 2020), and a recent randomized control trial study also showed that lessons in computational thinking improved student response inhibition, planning, and coding skills (Arfé et., 2020). As these skills take preeminence in the rapidly changing 21st century, CS education promises to significantly enhance student preparedness for the future of work and active citizenship. CS education can also reduce skills inequality if education systems make a concerted effort to ensure that all students have equitable access to curricula that provide them with the needed breadth of skills, regardless of their gender, ethnicity, or socioeconomic status.

Based on prior analysis and expert consultation, we selected 11 country, state, and provincial CS-education case studies with lessons that can apply broadly to other education systems. These cases come from diverse global regions and circumstances and have implemented CS education programs for various periods and to different levels of success. As such, we have examined information to extract lessons that can lead to successful implementation. This study will focus on the development of CS education in Arkansas.
While this U.S. state is not typically known for technological advancement, the governor’s strong leadership has led to a rapid and inclusive expansion of CS education, drawing praise from media and advocacy groups alike (Nix, 2017). Code.org, the Computer Science Teachers’ Association (CSTA), and Expanding Computing Education Pathways (ECEP) Alliance even noted in their 2019 “State of Computer Science Education” report that Arkansas has the largest share of high schools that teach CS (89 percent) of any U.S. state (State of Computer Science Education, 2020). The state also received the Frank Newman Award for State Innovation from the Education Commission in 2020 for its CS education initiative (CS for All, 2020). Given this recognition, the state’s CS education programs deserve close examination as other education systems work toward similar outcomes.
An overview of CS education in Arkansas
With regular funding, bipartisan political support, and strong executive leadership, Arkansas has made considerable progress at improving CS education since the beginning of the Hutchinson gubernatorial administration in 2015. To help guide key policy decisions, Governor Hutchinson appointed task force groups that included representatives from teacher associations, businesses, and government agencies. These stakeholders gave policymakers influential advice on teacher recruitment and training, student engagement activities, and curriculum standards.
The state set up incentives for participation in CS education programs. Since the 2015-16 school year, students have been able to use CS courses to fulfill high school science and mathematics requirements, which has contributed to Arkansas’s growing enrollment and improving diversity of CS classes (State of Computer Science Education, 2019; Associated Press, 2021). Arkansas has also developed CS certification for in-service and preservice teachers that encourage educators to participate in training programs (Code.org, 2017; Lang, Galanos, Goode, Seehorn, Trees, Phillips, & Stephenson, 2013). This is one of the more important aspects of this case study, as research has shown teachers to be one of the most important school-side factors in student learning in core academic subjects (Chetty Friedman, & Rockoff, 2014; Rivkin, Hanushek, & Kain, 2005). We posit that this applies to CS as well.
Lessons learned

Political leadership and stakeholder support are key to securing legislative approval and funding for activities that expand quality CS education.
Clear certification pathways, financial incentives, and professional advancement opportunities give teachers incentives to attend teacher training.
A full-time staff of administrators collaborating with a task force of industry representatives, teachers, and parents can enable decisionmakers to account for stakeholder needs and accelerate CS program improvement.
Offering CS in every school and allowing elective CS courses to satisfy high school graduation and university admission requirements can encourage students to explore their interest in CS.
By offering CS education to children at an early age, education systems can enable students to develop a strong interest in the subject and prepare them for advanced courses in high school. This progression throughout grades K-12 can inspire the most interested students to specialize in CS.

Read the full case study»

Related Content

Read More »