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Views from the Center

CGD experts offer ideas and analysis to improve international development policy. Also check out our Global Health blog and US Development Policy blog.

 

Lagarde and the Dragon: The IMF’s New Head Confronts a Rapidly Changing World

Judging from her first public speech since taking office last July, Christine Lagarde is all that her many supporters say she is: tough-minded, articulate, charming.  In a talk hosted by the Woodrow Wilson Center in Washington’s Ronald Reagan International Trade Center, she deftly laid out key challenges facing the global economy: “an anemic and bumpy recovery with unacceptably high unemployment” in the high-income countries, the debt crisis in Europe, and mounting public debt in the United States.

Got a Favorite CGD Research Output in 2008? Tell Eldis!

Eldis, the online aggregator of development policy, practice and research at the Institute of Development Studies in Sussex, is conducting a survey to identify "the most significant new piece of development research of 2008." This strikes me as having roughly the same statistical validity as American Idol does for when it comes to finding new singing talent. Still, as with Idol and other talent shows, the entertainment value of a popularity contest is hard to dispute!

Bail, Baby, Bail: What General Motors can Teach us about Policy Distortions

This is a joint posting with David Wheeler and Robin Kraft

When countries in Latin America or Africa descend into crisis, economists in Washington take a harsh view. Governments are forced to reduce spending in return for IMF rescue packages and in some instances, countries are even put on a cash-only budget. In the United States, we have a very different approach designed to minimize hardship of any kind -- the bailout.

U.S. Financial Crisis Will Mean Slower Growth, Rising Inequality in Developing World (Development Impacts of Financial Crisis)

For many developing countries, the U.S. credit crisis will mean slower growth and rising inequality. The effects will be protracted, and not all will show up at the same time. And the nature and degree of impact will vary widely. Some countries, notably those with extensive foreign exchange reserves and strong fiscal positions, will be much better able to cope than others. But overall the crisis is very bad news for developing countries and especially for the poor.