When residents of the Caribbean think of hurricanes, like Irma and Maria that whipped through the region last fall, they think not only of the loss of hundreds of human lives and homes, but of the widespread destruction of tourism assets like hotels, yachts and coral reefs. And they fear that the devastation is just a preview of what is to come. Tourism is the lifeblood of the … [Read more...] about Facing Climate Change’s Threat to Caribbean Tourism
Reducing Volatility from Cross-Border Banking Flows
How can emerging markets protect themselves from abrupt shifts in cross-border banking flows? That has been a fundamental question for economic policymakers in recent years, including those entrusted with banking supervision in regions like Latin America and the Caribbean. In a study made available online in May, Gabriel Cuadra and I examine the issue, focusing on how … [Read more...] about Reducing Volatility from Cross-Border Banking Flows
Failing to Exercise in a Region of World Cup Stars
In June and July, Latin Americans will gather around their televisions to admire the prowess of soccer superstars and cheer their national teams on to victory in the World Cup. The question is what they will do when each game ends. Will they get off the sofa and channel the thrill into starting their own pick-up game, playing some other sport, or even going for a jog? Sadly, … [Read more...] about Failing to Exercise in a Region of World Cup Stars
Can Latin America Ride the Wave of Artificial Intelligence?
Artificial intelligence (AI), with its self-teaching smart machines, will transform Latin America and the Caribbean. It will not happen immediately. But it is inevitable, and the region needs to ensure that legislation and regulations are in place so that AI increases productivity without harming privacy or abetting discrimination. There is no time to lose. AI in the region, … [Read more...] about Can Latin America Ride the Wave of Artificial Intelligence?
How Latin American Countries Became World Champions of Happiness
Consider two regions: one ranks high in GDP, equality, government transparency, and health care, the other one lags behind, sometimes by a wide margin. Where do you think people feel more upbeat? The answer is anything but intuitive. Many countries in Latin America knock out Western Europe and other advanced economies with their positive energy. In a recent study, Mariano … [Read more...] about How Latin American Countries Became World Champions of Happiness