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Blog Post
November 08, 2023
Koldo Echebarria’s fascinating paper explores the long and tragic story of Haiti’s struggle to achieve both political stability and economic prosperity. Despite mostly good intentions—at least in recent decades—and periodic surges in aid, one would have to conclude that the international community h...
Blog Post
November 07, 2023
For all of the well-advertised risks of overdependence on subsoil assets, they are an important source of government revenues and well-renumerated employment for a number of low- and middle-income countries. But a global economy moving towards low-carbon production is going to dramatically shift dem...
Blog Post
November 02, 2023
International finance is under considerable pressure: originally prioritized toward economic growth in poorer countries, it is now meant to deliver broad-based sustainable development including global public goods such as climate and pandemic response—to say nothing of refugee hosting costs. In a fu...
Blog Post
October 30, 2023
Our new paper forecasts global structural transformation over the next thirty years. It shouldn’t come as a great surprise that it suggests the planetary shift toward services employment and out of both agriculture and manufacturing will continue. But it does suggest something many find might novel ...
Blog Post
October 13, 2023
World Bank president Ajay Banga’s declared strategy is to lead with a better bank before pushing for a bigger bank. I hope it works. His shoutout to the dribs of finance offered by Germany and the US toward guarantees and hybrid capital in his Annual Meetings speech today only served to emphasize ho...
Blog Post
October 13, 2023
In fundamental ways, this era differs from the final decades of the last century. Climate change has set many parts of the world on fire and sharply raised risks from underinvestment in mitigation, adaptation and resilience (both climate and health). War on a large scale has returned to Europe, re-e...
Blog Post
October 12, 2023
As the World Bank and IMF meetings wrap up in Morocco, hopes for an imminent revolution in multilateral finance look forlorn. A dollar of capital can support five dollars of lending at the IBRD and the costs of subsidized finance for the poorest countries through IDA are shared amongst more than fif...