Latin American and Caribbean institutions moved forcefully to head off dangers in 2023. Central banks swiftly raised interest rates in the face of inflation, and governments imposed well-considered fiscal policies that brought average primary balances to a level superior to that before the COVID-19 pandemic. Along with strong financial regulation and supervision and resilient … [Read more...] about A New Report Stresses Reforms to Boost Productivity and Seize Markets in an Uncertain World
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Signaling Students’ Skills for Greater Fairness and Productivity
A degree from an elite university—like good grades and honors degrees—often serves as a signal of superior talent, a beacon that guides employers through a sea of candidates to the allegedly most desirable hire. Such bias in favor of the elite, however, can disadvantage highly skilled and talented people who attend less renowned schools or groups like migrants, who often … [Read more...] about Signaling Students’ Skills for Greater Fairness and Productivity
Productivity Growth at the Sectoral Level and the Road to Recovery from COVID-19
The COVID-19 pandemic has inflicted one the largest and most intricate economic disruptions in modern history. Latin America and the Caribbean, with 8% of the world's population but more than 25% of its deaths, was particularly hard hit, and unfortunately, the war against the virus is far from over. Even before the health crisis subsides, however, much work needs to be done. … [Read more...] about Productivity Growth at the Sectoral Level and the Road to Recovery from COVID-19
Moving Towards Growth and Greater Inclusion in One of the World’s Most Unequal Regions
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
When Lower Barriers to Firm Creation Translate Into More Resilient Economies
By Alan Finkelstein Shapiro and Victoria Nuguer Registering a business in Latin America is not for the faint of heart. Multiple procedures -- ranging from establishing by-laws and a legal structure to registering the company with authorities -- have to be carried out. Labyrinthine bureaucracies have to be negotiated. Lawyers and accountants are often hired to avoid … [Read more...] about When Lower Barriers to Firm Creation Translate Into More Resilient Economies