Financial Stability: The New Target for Emerging Economies


The policy of quantitative easing led by advanced economies and the subsequent surge of capital flows to emerging economies (EMEs) after the global financial crisis together with their recent reversal have highlighted the need to tailor a macro approach for EMEs that incorporates financial stability as an explicit policy target. But what should the approach […]

Natural Disaster Insurance: Why Don’t More Countries Have It?


They are whipped by hurricanes, lashed by storms and crippled by earthquakes. A report compiled by the United Nations, taking into account exposure to natural events and a society’s response, found four nations of the region (Guatemala, Costa Rica, El Salvador, and Nicaragua) to be among the world’s 15 nations most at risk from natural […]

Revisiting Policymaking in a Troubled Region


During much of its recent history, Latin America has alternated between policies that are state-controlled and those that are market-centered. It has swung from the import-substitution model of the post war era to the liberalization of the Washington Consensus of the 1990s with a host of lesser variations in areas ranging from industry to trade. […]

Applications Open for the IDB-Columbia Executive Course for Policymakers


Applications are now open for the executive program on macro-financial policymaking in emerging markets, jointly organized by Columbia University and the Inter-American Development Bank (IDB). Policymakers from emerging economies worldwide are welcome to apply to the course that will take place in New York on April 24-28. The IDB will offer tuition waivers to up […]

Capitalizing on Teacher Satisfaction: Using Tutors to Energize Education

They labor in loud and unruly environments, with demanding and emotional people. They impose discipline constantly, and their wages are notoriously poor. Yet, according to data from a survey of 15 Latin American countries, an average of 98% of primary school teachers say they like their jobs. If this seems surprising, it shouldn’t. Careers that […]

Reforming Constitutions: A Pandora’s Box


In March 1990, some 2 million Colombians cast a symbolic vote during elections demanding a new constitution. The vote followed a harrowing year of guerrilla, paramilitary and drug trafficking violence. Three presidential candidates had been assassinated, and many people argued that only a new national charter, creating a more inclusive, representative and decentralized government, could […]

Public Information on Vaccines Can Be a Matter of Life and Death


Public information campaigns are a complex, delicate undertaking. Getting them right is crucial, as undoing the damage of misinformation is very difficult: once perceptions have been formed, it’s very hard to modify behavior. And when it comes to vaccination —an issue that has sparked controversy over the years and became news again this week— the repercussions […]

Natural Disasters: How Nations Build Resilience

In the aftermath of the devastating earthquake which struck Haiti in 2010, killing more than 220,000 people and leaving 1 million homeless, governments and multilateral organizations gathered in New York to pledge an unprecedented $10 billion in emergency aid and long-term reconstruction.   “Our goal is not to rebuild.  It is to build back better,” […]

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