Conditional cash transfers are powerful tools of social progress in Latin America and the Caribbean. They have reduced short-term poverty for tens of millions of people by providing a monthly stipend and have helped break the intergenerational transmission of poverty by linking financial assistance to behaviors that enhance human capital, like school attendance and health … [Read more...] about Protecting Conditional Cash Transfers
Politics and Institutions
How Political Polarization Holds Latin America Back
There are countries where there is a great deal of consensus on issues of national importance, and countries where that consensus is lacking, where the population is divided, distrustful of political opponents, and unwilling to compromise. The latter are polarized societies, and their cleavages lead to worse outcomes in a whole gamut of areas, ranging from greater insecurity … [Read more...] about How Political Polarization Holds Latin America Back
Can Government and Civil Society Unite to Combat Corruption?
Corruption is a public enemy. Brazil's ongoing Lava Jato scandal is only the most recent prominent example of what can happen when government expenditures are undertaken with insufficient transparency and accountability. Pointing out a problem is one thing. Learning how to solve it—or at least contain it—is a different issue altogether, and one that raises a variety of … [Read more...] about Can Government and Civil Society Unite to Combat Corruption?
When Politics Distorts Tax Reform
The voters of the United States will ultimately weigh in on the wisdom of the large $1.5 trillion tax cuts headed for a final vote before the end of the year in the U.S. Congress. They will make it clear in the November 2018 legislative elections whether they believe that steep reductions in corporate taxes and income taxes for the wealthy are a sound investment in economic … [Read more...] about When Politics Distorts Tax Reform
The Good, Bad and Unexpected of Fiscal Rules
Caribbean countries still face a delicate fiscal situation. While a number of Caribbean economies have reduced their debt burden, the majority face high sovereign debt levels that weigh on their prospects for strong and sustainable growth. In the context of weak fiscal stances and high dependence on foreign external conditions, it makes sense to implement fiscal rules that … [Read more...] about The Good, Bad and Unexpected of Fiscal Rules