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Views from the Center

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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.

Clemens's Place Premium Tells Incredible Tale of Global Non-Market in Labor

Most economists who saw it no doubt reacted with skepticism to the recent assertion (by an organization pushing for stricter enforcement of migration restrictions) that undocumented workers are leaving the United States in record numbers because of increased Citizenship and Immigration Services enforcement. A far more likely cause is the housing market debacle and the resulting decline of jobs in construction and other housing-related sectors, where immigrant jobs are concentrated.