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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
How are beliefs about gender differences formed, and how do they affect children’s aspirations and academic performance? In this talk, Alex Eble will discuss recent work (co-authored with Feng Hu of the University of Science and Technology Beijing) on perceived gender gaps in mathematics in Chinese middle schools.
In a recent paper, Kate Ambler and coauthors studied the impact of one-season cash transfers for agricultural investment in Senegal and Malawi, using data from a randomized control trial (RCT) in each country. They found evidence that transfers reduced both the number of decision makers and female decision making in Senegal in the short-run, particularly for measures directly related to agriculture. However, the effects disappeared two years after the transfers. Conversely, the authors find transfers in the Malawi program led to robust transitory increases in these measures, seeing a greater impact related to the number of decision makers in the household persisting after two year period. Join us for the latest CGD Invited Research Forum to discuss these opposing findings on the effects of cash transfers on household decision making.
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?"