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CGD hosted a book presentation by William Easterly, author of The Elusive Quest for Growth: Economists' Adventures and Misadventures in the Tropics in discussion with Ricardo Hausmann, Professor of Economic Development, Kennedy School of Government, Harvard University.
In recent years, Latin American countries have undertaken major fiscal consolidation measures in an effort to reduce their deficits and accumulation of debt. Despite improvements in fiscal position throughout the region, the rate of inequality reduction has slowed, capital spending (in terms of GDP) has fallen to its lowest levels since 2007 and fiscal revenues remain insufficient to finance achievement of the Sustainable Development Goals (SDGs).
Amid an uncertain macroeconomic context and fiscal consolidation, this slowdown requires a fine-tuning of policy measures. This event launches the new CEPAL Publication Fiscal Panorama of Latin America and the Caribbean, 2019, examining the role of tax policy in achieving the Sustainable Development Goals (SDGs). The paper analyses the constraints of domestic resource mobilization caused by fiscal incentives and how these incentives could, instead, be geared towards investment to foster sustainable and inclusive development.
Over the last 25 years, Mexico has benefited from robust trade and financial integration with North America and strong domestic macroeconomic and financial stability, although much remains to be done on the socioeconomic front.
Against this backdrop, the economy is currently facing strong domestic and external headwinds. At home, the economy has slowed since last year, with real GDP contracting 0.2% in 1Q2019, reflecting low productivity in Mexico and softer growth in the United States. President Andrés Manuel López Obrador (AMLO) has announced protectionist policies, which are not supportive of private investment. From the external side, the lingering uncertainties about Trump’s tariffs on Mexico's imports could have a major negative impact.
How should Mexico deal with these challenges? The Latin American Committee on Macroeconomic and Financial Issues (CLAAF) will discuss central questions on a) the best policy responses to market uncertainties, b) the best way to deal with the immigration flood, which is playing a key role in Trump's new tariff threats, c) what Mexico’s policymakers can learn from the recent experiences in Argentina and Brazil, and d) the most pressing reforms needed to restore investors’ confidence and Mexico's economic growth.
A light breakfast and coffee will be available at 9:30 a.m.
Over the past two decades tremendous progress has been made to improve girls’ access to schooling. Data on learning similarly shows that gender gaps are closing or largely closed. Yet education systems are still failing to meet one important objective: achieving gender equality and women’s empowerment in terms of adult life outcomes. Against the backdrop of improvements in schooling and learning, women still bear the brunt of inequalities in female income, political participation, exposure to gender-based violence and reproductive autonomy. The panel will attempt to answer a key question: how can girls’ education improve adult life outcomes for women?
In this new World Bank Policy Research Report, Moving for Prosperity: Global Migration and Labor Markets, Çağlar Özden attempts to address the tension between the academic research and the public discourse on migration by focusing on the economic evidence. The report suggests a labor market–oriented, economically motivated rationale as an alternative to the political opposition to migration. Global migration patterns lead to high concentrations of immigrants in certain places, industries, and occupations. These geographic and labor market concentrations of immigrants lead to increased anxiety, insecurity, and potentially significant short-term disruptions among native-born workers.
Understanding (and empathizing with) these legitimate economic concerns is critical to informed and effective policymaking. The goal should be to ease the costs of short-term dislocations of native-born workers and distribute more widely the economic benefits generated by labor mobility. Proactive interventions to ease the pain and share the gain from immigration are essential to avoid draconian restrictions on immigration that will hurt everybody. Ignoring the massive economic gains of immigration would be akin to leaving billions of hundred-dollar bills on the sidewalk.