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How Nobel Ideas Inspired the IDB
Richard Thaler, the University of Chicago professor who fused psychological insights and economics to reveal how biases affect decision-making, was awarded Oct. 8 the 2017 Nobel Prize in economics....
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A Strong Party System and Peace in El Salvador
In January 1992, bitter enemies on El Salvador’s left and right met in a colonial era castle in Mexico City, shook hands and brought an end to a 12-year-long civil war that had claimed 75,000 lives...
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Macroeconomic Challenges for Latin America and the Caribbean
As the October 2017 meetings in Washington wind down, the good news is that Latin America and the Caribbean is out of recession and set to grow at 1.2% this year. Only three countries (Suriname,...
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For Latin American Learning, Money Isn’t the Problem
Does greater spending on education boost learning? Educators and policymakers worldwide have debated that question for years. When it comes to Latin America and the Caribbean, however, one thing seems...
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Behavioral Economics and the Messaging That Works
“Nothing can be said to be certain, except death and taxes,” said the United States’ Benjamin Franklin. And few things are less pleasurably anticipated. But at least when it comes to taxes, the...
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The FinTech Boom: China vs Latin America
Over the last five years, a new wave of upstarts has burst the confines of traditional finance. These are far from the hallowed institutions of classical pillars and marble. Rather they are children...
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Inequality and the Parent-Child Relationship
From the first words that parents exchange with their children to the games they play, the intellectual and emotional stimulation parents provide is critical. Especially in the early years, sustained...
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When Expectations Push a Country to Default
Countries have long relied on the issuance of debt to finance their expenditures and investments. However, it can be risky. Episodes such as the worldwide debt crisis of 1983, with its dramatic...
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Guatemala: The Crisis of Rule of Law and a Weak Party System
In mid-2015, tens of thousands of ordinary Guatemalans poured into the streets to protest against a multimillion-dollar corruption scheme at the highest levels of government and demand reform. By...
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Latin America: The Story Behind Falling Inequality
In the early 1800s, the Prussian scientist and explorer Alexander von Humboldt wandered the streets of Latin America and wrote of his astonishment at the misery and wealth; the “nakedness” and the...
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Promoting Competition to Boost Welfare Through Social Programs
Since the mid-1990s, governments in Latin America have used conditional cash transfers (CCTs) to reduce poverty, improve health, and boost school enrollment for tens of millions of people. But like...
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Dealing with Corporate Debt and Rising Interest Rates
They have risen bit by bit. But since the financial crisis in 2008, the Fed has kept interest rates in the United States exceedingly low. Now with healthier economic growth and employment in the...
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Stepping Up the Struggle Against Climate Change
The word out of Bonn, where the latest United Nations Climate summit came to an end Nov. 18, is hardly encouraging. Assuming that countries honor their commitments to reduce greenhouse gas emissions...
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Rethinking Inflation Targeting: What Do the UK and Latin America Have in Common?
On November 2, 2017, the Bank of England increased its policy interest rate from 0.25% to 0.5%. At the same time, it issued the sternest warning yet that Brexit would have a negative impact on the...
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The Good, Bad and Unexpected of Fiscal Rules
Caribbean countries still face a delicate fiscal situation. While a number of Caribbean economies have reduced their debt burden, the majority face high sovereign debt levels that weigh on their...
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When Politics Distorts Tax Reform
The voters of the United States will ultimately weigh in on the wisdom of the large $1.5 trillion tax cuts headed for a final vote before the end of the year in the U.S. Congress. They will make it...
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Can Government and Civil Society Unite to Combat Corruption?
Corruption is a public enemy. Brazil’s ongoing Lava Jato scandal is only the most recent prominent example of what can happen when government expenditures are undertaken with insufficient transparency...
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How Political Polarization Holds Latin America Back
There are countries where there is a great deal of consensus on issues of national importance, and countries where that consensus is lacking, where the population is divided, distrustful of political...
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Can Small Farmers Adapt to Climate Change Shocks?
When researchers consider the economic costs of climate change, they often estimate models based on historical temperature and economic data. But it can be difficult to account for adaptation....
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The Big Adjustment: Fiscal Challenges for Latin America and the Caribbean
An old Irish joke has a tourist in the rural west of Ireland asking a local if he knows how to get to Dublin. After a long pause and considerable thought, the local replies, “yes, but I wouldn’t start...
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