At the end of the third quarter, the growth forecast for Latin America and the Caribbean was an estimated -0.6% for 2016. For the first time since 1982-83, the region is expected to post two consecutive years of negative growth. However, looking beyond the numbers there is some good news in this latest report. To begin with, things looked considerably worse earlier in the … [Read more...] about Latin America’s Macroeconomic Update: Looking Up
Politics and Institutions
Why Do Politicians Buy Votes?
Since the first exchange of a drachma for a vote in Athens more than two-and-a-half thousand years ago, politicians have practiced the well-honed, if crude, art of vote buying. Today their inducements range from liquor, gas and cash in the United States to cash, grain, and washing machines in large parts of Africa, Asia, Latin America and the Caribbean. Yet vote buying is not … [Read more...] about Why Do Politicians Buy Votes?
Democracy Does Not Cause Growth
Does democracy cause more economic prosperity and growth? This question dates back to Plato and Aristotle’s debate regarding which form of government brings more political and economic gain to society. However, after more than two millennia, there seems to be no clear consensus about whether democracy (in and of itself) delivers more economic growth than autocratic forms of … [Read more...] about Democracy Does Not Cause Growth
Release Information; Give Power to the People
In 2001, a coalition of academics and newspapers united in what was known as the Grupo Oaxaca to propose and advocate for a so-called Freedom of Information (FOI) law. Proponents argued that a FOI law, which would force the government to reveal virtually all but national security information, would usher in a new era of government transparency. People would be given the tools … [Read more...] about Release Information; Give Power to the People
Crime, Inequality and the Rio Olympics
Before and during the Olympics in Rio de Janeiro, two different visions of the city emerged, at least partly from portraits in the foreign press. There was a glamorous Rio with its well-to-do sports fans, elegant neighborhoods and nightclubbers fired up by Samba and caipirinhas. And there was a Rio of the slums or favelas, with their poverty, drug gangs and killings. To be … [Read more...] about Crime, Inequality and the Rio Olympics