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
#Development
A Nobel Prize for Development: A Look From Inside the IDB
The awarding of the 2019 Nobel Prize in Economics to Abhijit Banerjee, Esther Duflo and Michael Kremer hits close to home for several reasons. First, in bringing "an experimental approach to alleviating global poverty," as the Nobel committee said in its Oct. 14 announcement of the prize, these distinguished economists have changed the way we do research at the Research … [Read more...] about A Nobel Prize for Development: A Look From Inside the IDB
Jumping to Higher Productivity and Income
How should Latin American countries invest in capabilities to boost their per capita incomes? Research at the IDB suggests that much of the gap in income per-capita levels between Latin American countries and the United States is due not to the amount of capital accumulated. Rather it is a result of drops in the region's productivity levels vis-à-vis the U.S. The trick is … [Read more...] about Jumping to Higher Productivity and Income
How the Rich Can Help Poor Countries
It's not always easy to be a billionaire. In the United States, resentment against the top 1%, with their immense share of national income, helped spur the Occupy Wall Street movement and its slogan "We are the 99%." And that resentment is even more intense for the one-tenth of 1% who are on the Forbes 400 list of wealthiest Americans and earn more than millions of families … [Read more...] about How the Rich Can Help Poor Countries
Reform and the Power of Party Platforms
For decades, analysis of political parties around the world focused on where they stood on the role of the state versus the markets in the economy; the need for high or low taxes; and the advantages or disadvantages of social-welfare spending. It focused, in other words, on the position of parties on the ideological spectrum of left to right. More recent analysis, however, … [Read more...] about Reform and the Power of Party Platforms