An uncomfortable reality lies behind Latin America’s poor growth performance: gains in productivity have been anemic over the last three decades. The costs in long-term GDP growth, as well as higher wages and living standards for Latin America's people, are steep. Over the last decades most Latin American nations adopted a broad agenda of economic liberalization and … [Read more...] about Reforming Regulations that Harm Productivity and Worker Welfare
Will Robots Really Harm Employment?
In science fiction films, artificial intelligence and robots are the bogeymen of the future, replacing us and rendering us useless as they impose their mechanical will upon us. Economists, though less apocalyptic, are sounding alarms too. In a study, economist Carl Benedikt Frey and machine learning expert Michael Osborne examine more than 700 occupations in the United States. … [Read more...] about Will Robots Really Harm Employment?
How Latin America Can Be Smarter on Crime
Latin America and the Caribbean confronts a paradox when it comes to guaranteeing the lives of its citizens. The region is wracked by organized crime, gangs, and street violence. It suffers a homicide rate (24 per 100,000) that is four times the world's average and spends a considerable portion of its total budget (5.4%) on citizen security. Yet, it continues to employ … [Read more...] about How Latin America Can Be Smarter on Crime
Examining the Interplay of Monetary and Fiscal Policies in Latin America
Latin American countries have wide-ranging experiences with economic policies and macroeconomic outcomes. The social and economic consequences have at times been adverse and dramatic. The Monetary and Fiscal History of Latin America project has produced systematic evidence using comparable datasets from these varied historical experiences to help build a knowledge base for the … [Read more...] about Examining the Interplay of Monetary and Fiscal Policies in Latin America
Banks and the Global Financial Crisis 10 Years On: Lessons from Latin America and the Caribbean
On Sept. 15 2008, Lehman Brothers filed for bankruptcy heralding the most serious financial crisis since the Great Depression. A couple of years after, I was at a conference and a senior (European) official gave a presentation entitled The Global Financial Crisis, Lessons for Latin America. I asked whether there was a typo. Shouldn’t that be lessons from Latin America?, I … [Read more...] about Banks and the Global Financial Crisis 10 Years On: Lessons from Latin America and the Caribbean