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Michael Kremer is a non-resident fellow at the Center for Global Development, the University Professor in Economics and Director of the Development Innovation Lab at the University of Chicago, a senior fellow at the Brookings Institution, and a 2019 co-recipient of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. He is a fellow of the American Academy of Arts and Sciences, a recipient of a MacArthur Fellowship and a Presidential Faculty Fellowship, and was named a young global leader by the World Economic Forum. Kremer’s recent research examines education and health in developing countries, immigration, and globalization. He and Rachel Glennerster published Strong Medicine: Creating Incentives for Pharmaceutical Research on Neglected Diseases, which won the Association of American Publishers Award for the Best Professional/Scholarly Book in Medical Science in 2004. He is a 2005 recipient of the International Health Economics Association’s Kenneth J. Arrow Award for best paper in health economics. In 2006, Scientific American named him one of the 50 researchers of the year.
CGD non-resident fellow Lant Pritchett argues in a new, bound-to-be-controversial book that increased labor mobility would do more for poor people in developing countries than aid, successful trade reform, and debt relief combined. Let Their People Come: Breaking the Gridlock on Labor Mobility will change the way you think about migration and development.
Critics allege that the World Bank is deeply flawed. Yet the world needs a strong World Bank to help manage development and the related global challenges of the 21st century. Do the Bank's shortcomings put its future at risk? If so, can the Bank be rescued? Rescuing the World Bank, a new book that includes a CGD working group report and selected essays edited by CGD president Nancy Birdsall, offers timely perspectives on challenges that are crucial to the Bank’s future success.
Donors are considering committing in advance to purchase vaccines against diseases concentrated in low-income countries to spur research and development on vaccines for neglected diseases. How much money is needed? The authors of this paper find that a commitment comparable in size to the average sales of recently launched commercial products (adjusted for lower marketing costs)—about $3 billion per disease when products are at a relatively early stage in development —would be a highly cost-effective way to address major killers, such as malaria, tuberculosis and HIV/AIDS. The paper includes a link to a Web-based spread sheet for readers to conduct their own sensitivity analysis.Learn more
As the Cote d’Ivoire standoff moves into Day Ten, pressure is mounting on Laurent Gbagbo who lost the election to Alassane Ouattara but refuses to stand down. The African Union and ECOWAS have suspended the country, and the United States and Europe have each threatened Gbagbo with financial sanctions, asset freezes, and travel bans unless he relents.
As cash becomes scarce and the junta more desperate, Gbagbo and his inner circle might try to quickly borrow money or start a fire sale. This would not only provide fuel for potential conflict, but also saddle the Ouattara government with new debts once they get in the seat. One additional way of squeezing Gbagbo and avoiding this outcome is contract sanctions, as proposed in the recent report of CGD’s Prevention of Odious Debt Working Group led by John Williamson, Michael Kremer, and Seema Jayachandran.