Since the outbreak of the COVID-19 pandemic, various studies have examined how large domestic and multinational firms respond to economic shocks, including health-related ones. But there has been less focus on how family-operated micro, small, and medium-sized enterprises (MSMEs) modify their business decisions when faced with such disruptions. Similarly, relatively little … [Read more...] about When Insurance for Small Businesses Provides Broad Social Gains
Education has long been considered a bulwark in hard times. Now new research shows that acquiring additional years of schooling can help prevent people from losing their jobs during economic downturns or recessions. But what makes acquiring education protective? Does it increase productivity? Does it enable workers to work in recession-proof sectors? Or does the economic … [Read more...] about How Education Protects Workers During Recessions
The COVID-19 pandemic has battered Latin American and Caribbean economies. Due to its large informal sectors, weak health systems, and fiscal restrictions, the region’s economy has been hit harder than any other declining by 7% last year—the largest GDP contraction since 1821. But unlike previous crises, where problems originated or were exacerbated in the financial sector, … [Read more...] about FINLAC: A New Initiative on Financial Inclusion to Boost Economic Recovery and Transform Lives
Digitalization might seem to be the solution to many ills facing society. From the virtual classrooms that provide education to children in remote areas, to the telemedicine that facilitates access to health care and crowdsourcing to promote citizen participation in policy debates, it might even seem like a panacea. But digitalization's effectiveness depends on the ability … [Read more...] about Digitalization of Public Services: A Panacea?
At the onset of the COVID-19 pandemic, governments around the world faced the challenge of providing effective financial support to help citizens weather the fallout from the accompanying economic crisis. That crisis unfolded at unprecedented speed, leaving many households vulnerable to sliding into poverty before governments could design and implement new social … [Read more...] about How an Existing Non-Contributory Pension Program Proved Critical During the COVID-19 Pandemic