Ideas to Action:

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Multimedia

CGD's weekly Global Prosperity Wonkcast, event videos, whiteboard talks, slides, and more.

Impacto de decradación (CNN en Espanol)

8/9/11

Senior fellow Liliana Rojas- Suarez discusses the U.S. credit rating downgrade and its effects. She emphasizes that the fundamental problems behind the 2008 financial crisis – namely the deeply troubled mortgage markets - have not been solved, and that this downgrade, together with the ongoing European crisis, are indicative of an impending long period of very low global growth. Rojas-Suarez predicts that there will be no quick economic recovery for the United States resulting in stagnant growth and unemployment rates.

Avoiding a Credit Bubble in Latin America (Wonkcast)

6/20/11

CLAAF 2011

For now, the future for Latin America looks bright. Confidence is high throughout the region after a strong rebound from the global financial crisis. But large and possibly volatile inflows of capital could lead to a credit bubble if regulators don’t take steps now to slow the large flood of hot money. In this edition of the Wonkcast I interview three members of the Latin American Shadow Financial Regulatory  Committee (CLAAF), a group prominent South American economists who meet twice yearly to offer advice to the region’s regulators and policymakers. Our focus is the group’s latest statement, which urges unconventional measures for extraordinary times.

Macroprudential Regulation and Developing Countries: Liliana Rojas-Suarez

3/7/11

Liliana Rojas-Suarez

Regulators at the Bank for International Settlements in Basel, Switzerland, are hard at work designing regulatory standards to avoid future financial meltdowns like the global financial crisis of 2008. Joining them for two months is Liliana Rojas Suarez, a CGD senior fellow and the founding chair of the Latin American Shadow Financial Regulatory Committee.

I spoke with Liliana just before she left for Basel about macroprudential regulation—an approach that focuses on the systemic risks arising from the interaction among banks and other financial institutions. (Liliana had spoken about this at a recent CGD Research in Progress staff meeting; her slides are a useful adjunct to our Wonkcast discussion.)

Liliana Rojas-Suarez on the European Crisis (CNN en Espanol)

1/20/11

Senior Fellow Liliana Rojas-Suarez made comments on the sovereign debt auctions held recently by several European governments. She thinks the so-called success of these auctions is relative for two reasons. First, it is important to remember that before this auction took place, the European Central Bank intervened to buy sovereign bonds in order to lower spreads in the market, which at the time were sky-high. Second, an important proportion of these bonds have been bought by local investors. It is, therefore, worrisome that the liquidity that the European Central Bank has injected into a number of European banks might be channeled (at least partly) to the purchase of sovereign bonds. The concern is that in the event of sovereign debt defaults, banking crises would also ensue.

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