Trade has been a key driver of global growth, income convergence, and poverty reduction. Both developing countries and emerging market economies have benefited from opportunities to transfer technology from…
After a exponential rise in foreign exchange reserves accumulation by emerging markets from 2000 onwards, the tide seems to have turned south since mid-2014. Changes in capital flows and commodity prices have been major factors behind the inflection, with the new direction expected to remain, given the context of the global economy going forward. Although it is too early to gauge whether the on-going relative unwinding of such reserves defenses will lead to vulnerability in specific emerging markets, the payoff from strengthening domestic policies has broadly increased.
Webcast Recap Watch the full video here The debilitating political and economic crisis that engulfed Brazil in 2015 is bound to continue in the New Year regardless of…
Os prós e contras da CPMF, aposta do governo contra o deficit em 2016 Mariana Schreiber - BBC Brasil em Brasília 4 janeiro 2016 Direito de imagemABRImage captionVolta do imposto é impopular…
Fla-Flu político impede avanços na economia, diz diretor do FMI MARCELO NINIO DE WASHINGTON Folha de São Paulo A nomeação de Nelson Barbosa para o lugar de Joaquim Levy…
This paper studies the existence of middle-income growth traps in a two-period overlapping generations model of economic growth with two types of labor and endogenous occupational choices. It also distinguishes between “basic” and “advanced” infrastructure, with the latter promoting design activities, and accounts for a knowledge network externality associated with product diversification. Multiple steady-state equilibria may emerge, one of them taking the form of a low-growth trap characterized by low productivity growth and a misallocation of talent—defined as a relatively low share of high-ability workers in design activities. Improved access to advanced infrastructure may help to escape from that trap. The implications of other public policies, including the protection of property rights and labor market reforms, are also discussed.
Financial Times, December 9, 2015 DECEMBER 9, 2015 by: Otaviano Canuto and Cornelius Fleischhaker beyondbrics Brazil is undergoing its most severe recession in decades, with GDP expected to contract more…
REUTERS December 8, 2015 IMF rule change keeps Ukraine support; Russia complains WASHINGTON (Reuters) - The International Monetary Fund will change its lending rules to allow it to keep supporting…
Given Colombia’s recent economic success during years of war, what it could achieve in years of peace? Colombia’s inherited reputation for cocaine, drug-trafficking and conflict may not be entirely…
Armen Ovanessoff and Eduardo Plastino of the Accenture Institute for High Performance interview Otaviano Canuto as part of a research project on collaborative innovation. As part of the Accenture Institute…
This paper studies the existence of middle-income growth traps in a two-period overlapping generations model of economic growth with two types of labor and endogenous occupational choices. It also distinguishes between “basic” and “advanced” infrastructure, with the latter promoting design activities, and accounts for a knowledge network externality associated with product diversification. Multiple steady-state equilibria may emerge, one of them taking the form of a low-growth trap characterized by low productivity growth and a misallocation of talent—defined as a relatively low share of high-ability workers in design activities. Improved access to advanced infrastructure may help to escape from that trap. The implications of other public policies, including the protection of property rights and labor market reforms, are also discussed.
In September 2003, one of us was among the delegations of trade representatives from around the world that gathered in Cancun, Mexico, for one of the first Doha rounds…
Reuters BUSINESS NEWS NOVEMBER 29, 2015 IMF's yuan inclusion signals less risk taking in China Pete Sweeney, Krista Hughes SHANGHAI/NEW YORK (Reuters) - When the International Monetary Fund agrees on Monday to…
China’s shadow banking system thrived in the years after the global financial crisis, until reined in by regulators since 2013. Nevertheless, new forms of shadow banking are emerging.
Nicaragua is far more than just the newest and swankiest destination for world travelers. It is -and mark our words – on its way to becoming the latest success…