Inter-American Development Bank
facebook
twitter
youtube
linkedin
instagram
Abierto al públicoBeyond BordersCaribbean Development TrendsCiudades SosteniblesEnergía para el FuturoEnfoque EducaciónFactor TrabajoGente SaludableGestión fiscalGobernarteIdeas MatterIdeas que CuentanIdeaçãoImpactoIndustrias CreativasLa Maleta AbiertaMoviliblogMás Allá de las FronterasNegocios SosteniblesPrimeros PasosPuntos sobre la iSeguridad CiudadanaSostenibilidadVolvamos a la fuente¿Y si hablamos de igualdad?Home
Citizen Security and Justice Creative Industries Development Effectiveness Early Childhood Development Education Energy Envirnment. Climate Change and Safeguards Fiscal policy and management Gender and Diversity Health Labor and pensions Open Knowledge Public management Science, Technology and Innovation  Trade and Regional Integration Urban Development and Housing Water and Sanitation
  • Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer

Ideas Matter

  • HOME
  • CATEGORIES
    • Behavioral Economics
    • Environment and Climate Change
    • Macroeconomics and Finance
    • Microeconomics and Competitiveness
    • Politics and Institutions
    • Social Issues
  • Authors
  • Spanish

Taking Stock of Thirty Years of Research

October 24, 2024 by Eric Parrado Leave a Comment


The IDB’s Research Department has turned 30, and as I celebrate this birthday, I look back with immense pride on the three decades of critical contributions our department has made to evidence-based policymaking in Latin America and the Caribbean and forwards to the tough challenges we face in a rapidly changing world.

Having first joined the department more than 20 years ago as a research assistant under then-Chief Economist Ricardo Hausmann, and then returning five years ago as general manager and chief economist, I’ve been fortunate to work with the extremely talented economists that fill our department’s ranks. Their ability to marshal data, analysis, and research to help countries in the region build stronger, more resilient economies and advance on the path of sustainable development for the benefit of millions is nothing short of admirable.

But at 30, we are not going to rest on our laurels. Our department still has unlimited gas in the tank and a lot of work to do. We have the experience of decades of research on issues ranging from public spending, debt, and productivity to early childhood development, infrastructure, institutions, political economy, and inequality—disseminated in our flagship Development in the Americas (DIA) report series and many other reports and published papers. We’ve built the IDB’s most robust and skilled Research Department ever in which each of our economists work for the common goal of improving lives in our region. We’ve expanded into new disciplines like trust and behavioral economics, tackled issues like gender and diversity and financial inclusion, and delved deep into the social and economic impacts of the COVID-19 pandemic. And across these areas, we’ve collaborated closely with other departments and divisions to share insights and expertise. But we also know that we face a dizzying array of new challenges from, among others, the advent of artificial intelligence, climate change, crime, migration, competition, and shifting trade patterns. Today we remain full of energy and ambition and have no intention of slowing down.

In keeping with our commitment to the region, we recently took stock of some of the critical regional and global issues we face in a two-day conference, featuring a remarkable group of seven keynote speakers and 30 panelists and moderators from the top ranks of academia, think tanks, international lending institutions, and related organizations. Reviewing issues like innovation, productivity, fiscal policy, climate change, and human development, among many others, this group of global experts traversed themes we’ve been working on for a long time. And more than 8,000 people tuned in online to listen to their talks and panel discussions.

Most importantly, our guests provided new insights for research as we work to support countries and help improve lives. Philippe Aghion, for example, spoke to us about the challenges of boosting productivity growth. Emphasizing firm dynamics, he explored the need for governments to balance creative destruction and innovation with regulations that prevent monopolies. Carlos Végh examined different kinds of fiscal rules and the institutional and political challenges involved in combatting the tendency of emerging market economies, like those in Latin America and the Caribbean, to spend too much in good times and cut spending too much in hard times (fiscal procyclicality). And Esteban Rossi-Hansberg plumbed the many uncertainties involving climate change, exploring the spatial frictions involved in moving economic activity—goods, people, technology, and capital—in response to global warming while stressing the need for structural models to evaluate the economic cost of climate change.

We’ve done a lot of work at the Research Department on capital flows and the dangers of sudden stops, those crises where foreign financing to borrower countries suddenly dries up. So the insights of Enrique Mendoza on what countries can do in terms of managing capital flows and reserves to increase macroeconomic stability, and the supporting role international financial institutions can play, gave us much to think about. So did the ideas of Andrés Velasco on building state capacity and ensuring that economic policies have political support. Paul Collier was incisive in explaining the fate of places left behind and the crucial role of strong local leadership in helping struggling places move ahead. Sule Alan’s thoughts on human development were equally inspiring. Given the extensive work we’ve done on social cohesion, trust, and education in our region, her ideas on the use of schools to develop better social and emotional skills, behavioral norms, and social cohesion hit the mark.

Our previous chief economists Guillermo Calvo, Ricardo Hausmann, Santiago Levy, Eduardo Lora, and José Juan Ruiz shared their perspectives on our achievements and potential future directions. Their long-standing association with the Research Department allowed them to provide context and highlight trends that may inform our approach to evidence-based research in the coming years. We are truly grateful to all our speakers, panelists, and moderators for their contributions as we forge ahead in our mission to help generate prosperous, inclusive, and sustainable development in Latin America and the Caribbean. The IDB’s new institutional strategy puts ever greater emphasis on research and knowledge, and, with the talent and dedication of our researchers and the continuing support of our partners and collaborators, we look forward eagerly, energetically, and passionately to the challenge.


Filed Under: Uncategorized Tagged With: #research, IDB Research Department

Eric Parrado

Eric Parrado Herrera is Chief Economist and General Manager of the IDB’s Research Department since March 2019. Before joining the IDB, he was a professor of economics and finance at the ESE Business School of the Universidad de los Andes in Santiago, Chile. Mr. Parrado is a visiting professor at Oxford University and the Central European University, and a member of the World Economic Forum's Global Future Council on Financial and Monetary Systems. Throughout his professional career, Mr. Parrado has focused on monetary, fiscal and financial policy, advising central banks on managing inflation targeting regimes and implementing sovereign wealth funds in several countries. He has also written several academic articles on monetary policy, fiscal policy and sovereign wealth funds.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Follow Us

Subscribe

Search

Related posts

  • IDB Research Department Seeks Research Economist
  • Prestigious Fellowship Program for Talented Research Assistants
  • IDB Offers Opportunity for Talented and Ambitious Research Assistants
  • IDB Opens Doors to Promising Young Research Assistants
  • A Unique Opportunity at the IDB for Talented Research Assistants

About this blog

The blog of the IDB's Research Department shares ideas that matter on public policy and development in Latin America and the Caribbean.

Footer

Banco Interamericano de Desarrollo
facebook
twitter
youtube
youtube
youtube

    Blog posts written by Bank employees:

    Copyright © Inter-American Development Bank ("IDB"). This work is licensed under a Creative Commons IGO 3.0 Attribution-NonCommercial-NoDerivatives. (CC-IGO 3.0 BY-NC-ND) license and may be reproduced with attribution to the IDB and for any non-commercial purpose. No derivative work is allowed. Any dispute related to the use of the works of the IDB that cannot be settled amicably shall be submitted to arbitration pursuant to the UNCITRAL rules. The use of the IDB's name for any purpose other than for attribution, and the use of IDB's logo shall be subject to a separate written license agreement between the IDB and the user and is not authorized as part of this CC- IGO license. Note that link provided above includes additional terms and conditions of the license.


    For blogs written by external parties:

    For questions concerning copyright for authors that are not IADB employees please complete the contact form for this blog.

    The opinions expressed in this blog are those of the authors and do not necessarily reflect the views of the IDB, its Board of Directors, or the countries they represent.

    Attribution: in addition to giving attribution to the respective author and copyright owner, as appropriate, we would appreciate if you could include a link that remits back the IDB Blogs website.



    Privacy Policy

    Copyright © 2025 · Magazine Pro on Genesis Framework · WordPress · Log in

    Banco Interamericano de Desarrollo

    Aviso Legal

    Las opiniones expresadas en estos blogs son las de los autores y no necesariamente reflejan las opiniones del Banco Interamericano de Desarrollo, sus directivas, la Asamblea de Gobernadores o sus países miembros.

    facebook
    twitter
    youtube
    This site uses cookies to optimize functionality and give you the best possible experience. If you continue to navigate this website beyond this page, cookies will be placed on your browser.
    To learn more about cookies, click here
    X
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
    Non-necessary
    Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
    SAVE & ACCEPT