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Since the early 2000s, Latin America has become increasingly integrated with the global economy, liberalizing trade and opening its capital account. These initiatives were prompted by the assumption that advanced economies would not impose barriers to the cross-border movement of goods and services. But today, a rising wave of protectionism not seen since the Great Depression challenges this assumption.
With this new reality as the backdrop, the Latin American Committee on Macroeconomic and Financial Issues (CLAAF) will be meeting in Washington, DC to discuss how to tackle these emerging global economic challenges. Members of this committee include former finance ministers, former central bank governors, and other high-level economic officials and academics from across Latin America.
On Tuesday, April 10th the Committee will host a forum to debate and discuss these important questions:
If protectionist threats materialize, should Latin America follow suit, or reassert its determination to move towards global integration?
Entering a period of greater financial volatility associated with a dangerous combination of protectionism and higher international interest rates, should Latin America reassess its relatively orthodox macroeconomic stance and favor more heterodox policies (e.g., controls on capital flows)?
What is the role of regional institutions and the IMF in supporting Latin America’s financial stability in a changing world?
Laura Alfaro, Warren Albert Professor, Harvard Business School and Former Minister of National Planning and Economic Policy, Costa Rica
Guillermo A. Calvo, Professor of Economics, International and Public Affairs, Columbia University and Former Chief Economist, Inter-American Development Bank
Alberto Carrasquilla, Senior Partner, Konfigura Capital and Former Minister of Finance and Public Credit, Colombia
Augusto de la Torre, Former Chief Economist for Latin American and the Caribbean, World Bank and Former Governor, Central Bank of Ecuador
Roque BenjamínFernández, Director, Fund for the Promotion of Research, CEMA University and Former Minister of Finance, Argentina
Pablo Guidotti, Professor of Economics, School of Government, University Torcuato Di Tella and Former Vice Minister of Finance, Argentina
Liliana Rojas-Suarez (Committee Chair),Senior Fellow, Center for Global Development and Former Chief Economist for Latin America, Deutsche Bank
Ernesto Talvi, Director, Global-CERES Economic and Social Policy, Latin America Initiative, Brookings Institution and Academic Director, CERES, Uruguay
Indian agriculture remains vulnerable to the vagaries of weather, and the looming threat of climate change may expose this vulnerability further. Using district-level data on temperature, rainfall and crop production, Siddharth Hari’s paper first documents a long-term trend of rising temperatures, declining average precipitation and increase in extreme precipitation events. One key finding is that the impact of temperature and rainfall are felt only in the extreme: when temperatures are much higher, rainfall is significantly lower, and the number of “dry days” greater is than normal. He also finds that these impacts are significantly more adverse in unirrigated areas (and hence rainfed crops) compared to irrigated areas. Can policy makers react to the challenges of climate change and find ways to get “more crop for every drop?"
Estimating intergenerational mobility in developing countries is difficult because matched parent-child income records are rarely available and education is measured very coarsely. In particular, there are no established methods for comparing educational mobility for subsamples of the population when the education distribution is changing over time.
In their recent paper, Sam Asher and coauthors present new methods and new administrative data to overcome this gap, and study intergenerational mobility across groups and across space in India. They find that the intergenerational mobility for the population as a whole has remained constant since liberalization, but cross-group changes have been substantial. Rising mobility among historically marginalized "Scheduled Castes" is almost exactly offset by declining intergenerational mobility among Muslims, a comparably sized group that has few constitutional protections. These findings contest the conventional wisdom that marginalized groups in India have been catching up on average. The paper also explores heterogeneity across space, generating the first high-resolution geographic measures of intergenerational mobility across India, with results across 5600 rural subdistricts and 2300 cities and towns.
AidEx is a two day event, which encompasses a conference, exhibition, meeting areas, awards and workshops. Its fundamental aim is to engage the sector at every level and provide a forum for aid & development professionals to meet, source, supply and learn. AidEx was created to help the international aid and development community engage the private sector in a neutral setting, drive innovation and support the ever-growing need for emergency aid and development programmes.