Thirty years ago, as part of their development strategy, and after many years of protectionism, the countries of Latin America and the Caribbean embarked on a process of ambitious trade liberalization. This was only one of many different reforms made in the framework of the Washington consensus. But it was without question the most important one. Tariffs were eliminated, … [Read more...] about Ensuring that the Gains from Trade are Inclusive and Sustainable
With Colin Mayer, Saïd Business School, University of Oxford How can we deal with the fact that Latin America is the most unequal region of the world? How can we manage lackluster economic growth? And how can we transform our economies and make poverty and exclusion a thing of the past? To answer some of those questions, Colin Mayer, the Peter Moores Professor of … [Read more...] about Why Well-Governed, Socially Conscious Companies Thrive
"What keeps you up at night?" That was a question posed to a gathering of leaders from government institutions around Latin America and the Caribbean some 25 years ago. In asking that question, the Research Department at the Inter-American Development Bank (IDB) laid down a mission that it has zealously pursued ever since. It's not just asking government leaders what worries … [Read more...] about The Unique and Essential Mission of Multilateral Research Departments
By Julián Messina, Norbert Schady, and Joana Silva Meager economic growth and high inequality are the twin curses of Latin America. But inclusive growth that fights those curses by encompassing everyone, including marginalized and vulnerable populations, is possible. It just requires the right policies. We know, of course, that this is easier said than done. Economic … [Read more...] about Moving Towards Growth and Greater Inclusion in One of the World’s Most Unequal Regions
The crash on the New York stock exchange in 1929 brought depression to the world. That is probably why when the global financial crisis broke in 2008, some observers thought the contagion originating in New York would again spread south, causing a collapse in Latin America and the Caribbean. But that didn't happen. Why? The region's internal situation in 2008 was "lean and … [Read more...] about How Can Latin America and the Caribbean Avoid the Next Financial Crisis?