Does it happen to you that you carry an umbrella almost always in case it rains, and never need to use it except -of course- when it’s raining, and it’s precisely then that you realize that you forgot it? Isn’t it the case on any given day walking outside, that we are willing to pay more for an umbrella when it is pouring than when it is sunny? The umbrella is a device that … [Read more...] about Are multilateral banks really supporting countries in times of need?
Arturo J. Galindo
Arturo José Galindo Andrade is a Principal Economist at the Research Department of the Inter-American Development Bank (IDB) in Washington DC. Prior to joining the Research Department in 2021 he was a member of the Board of Directors of the Central Bank of Colombia. Arturo has also been a researcher at Fedesarrollo a Colombian think tank, Chief of the Strategic Planning and Monitoring Division at the IDB, Chief of the Strategic Development Division and Regional Economic Advisor for the Andean Region at the same institution. Previous roles include Chief Economic Advisor of the Banking Association of Colombia, Advisor to the Ministry of Finance, Advisor to the Government of Colombia on Coffee Affairs, Professor of Economics at Universidad de los Andes in Bogotá, Colombia, Research Economist at the IDB, and Economist at the Central Bank of Colombia. Arturo holds a PhD in Economics from the University of Illinois at Urbana-Champaign. His academic research includes macroeconomics, monetary policy, financial economics, banking, development banking, public finance, international economics and development economics—fields in which he has published extensively.
The Challenge of Countercyclicality for Multilateral Development Banks
As established in the Addis Ababa Action Agenda (2015), Multilateral Development Banks (MDBs) are expected to provide lending in the event of financial or economic shocks. Economists call this countercyclical lending. However, a recent study shows that while the MDB system as a whole acts countercyclically, in other words, lends less to a country during its booms and more … [Read more...] about The Challenge of Countercyclicality for Multilateral Development Banks
How Do We Know if We Are Improving Lives? Multidimensional Poverty and Subjective Well-Being
The mission of the IDB is to work with the countries of Latin America and the Caribbean to improve the lives of their citizens. However, this process is not an exact science, so it is not always easy to ascertain whether that objective is being achieved. How can we know for certain that Bank-supported projects are helping people live more prosperously? Responding to this … [Read more...] about How Do We Know if We Are Improving Lives? Multidimensional Poverty and Subjective Well-Being
Measuring, learning, sharing
Measuring and evaluating our work allows us to stay on track, but sharing what we learn increases the reach of our work toward improving lives. For years we have worked at the IDB, with varying roles and responsibilities, but always in one way or another toward advancing development effectiveness. At the IDB we seek to improve lives and toward this purpose we seek to … [Read more...] about Measuring, learning, sharing
Timely thoughts on impact evaluations
Everyone has great ideas when it comes to designing development projects or policies. At the drawing board, and with a bit of ideological support, an abundance of ideas are born that could easily improve countless lives. However, these ideas, while sound in theory, don´t always work. If only there was a time machine to take us to the future to verify the effectiveness of … [Read more...] about Timely thoughts on impact evaluations