As Borges famously remarked, “Reality is not always probable, or likely.” So it seems in Latin America and the Caribbean: of all possible outcomes the one we have lived through is not the one many would have predicted. Moreover, as we look to the future, current forecasts display marked differences across countries and are subject to very high uncertainty. As this year … [Read more...] about Living in the Age of Uncertainty
Behavioral Economics for Better Public Policies
Would you save more if 10% of your paycheck was automatically deposited into a separate account in your name? Would you feel more obliged to pay your taxes if you knew all the neighbors on your block had paid them? And would you use the hand dryer instead of a paper towel in a public bathroom if a notice reminded you of the environmental impact of cutting down trees? The … [Read more...] about Behavioral Economics for Better Public Policies
Latin America, the Caribbean and PISA: The Long Road Ahead
Over the last 25 years, Latin American and Caribbean nations have bet heavily on education as a route to more equitable and prosperous societies. Today, the region spends on average 3 percentage points more of its GDP on education than in the early 1990s, with spending fast approaching levels in the developed world. Enrollment in primary school has become nearly universal and … [Read more...] about Latin America, the Caribbean and PISA: The Long Road Ahead
Latin American Constitutions: The Struggle for Pluralism and Stability
Over the last four decades, Latin America has drafted an astounding number of new constitutions relative to most other regions of the world. Between 1978 and 2008, it generated 15 new constitutions and numerous constitutional reforms. Many of these transformations helped governments move beyond an authoritarian past or deepened already existing democratic systems. Some of them … [Read more...] about Latin American Constitutions: The Struggle for Pluralism and Stability
Latin America and Trump: the IDB’s Chief Economist Identifies Potential Opportunities for the Region
Latin America, like the rest of the world, cautiously awaits the beginning of Donald Trump's presidency in the United States. There is great anticipation to see if the president elect fulfills his campaign promises—many of them already played down—and how his government's policies affect the region. In an interview with the Spanish daily El País, the IDB's chief economist, José … [Read more...] about Latin America and Trump: the IDB’s Chief Economist Identifies Potential Opportunities for the Region