The United States will be changing how it admits foreign farm workers. Done right, this presents a big opportunity to meet clear goals of the current administration: to reduce unauthorized migration and create US jobs. Three core tenets to keep in mind: non-seasonal work, visa portability, and bilateral cooperation.
CGD Policy Blogs
Three weeks ago, the European Commission published its initial proposal for the EU’s budget from 2021 to 2027. The headlines? Overall spending would rise despite the loss of the UK, and development spending and ‘external action’ could see increases. But both agriculture and regional spending would be cut. This blog post is the first in a series analyzing the Commission’s proposals for its “long-term budget” and looks specifically at the agriculture budget and its global development impact.
With few systematic studies of its impact on program beneficiaries, the debate on Aadhaar has, so far, seen more heat than light, but this is changing. The State of Aadhaar Report looks into many dimensions, including beneficiaries’ views of the new digital delivery systems, and the impact of the new approach—which combines financial inclusion (Jan Dhan accounts) Aadhaar, and mobiles (the so-called JAM trinity)—as well as financial inclusion and digital payments.
The Center for Global Development is pleased to announce the launch of its new website! The modernized site brings you more of the same great research and analysis, with a renewed focus on how CGD’s research relates to current events and global development debates—and with a sleek updated design of course.
Basel III & Unintended Consequences for Emerging Markets and Developing Economies - Part 5: Effects on Capital Market Development and the Real Economy
While the immediate and direct effects of implementing Basel III regulatory reforms in emerging markets and development economies (EMDEs) are in these countries’ banking systems, there might also be effects beyond them on other segments of the financial system. In this blog post, I will focus on two specific areas of concern—risk management and capital market development, and spill-overs from banking structural reforms in advanced countries.
Is it time to ring the alarm bell on a declining US commitment to global health security? For most of the past year, I would have said no. But after the last few weeks, I’m starting to think so. And the simultaneous news of a new Ebola outbreak in the Democratic Republic of Congo underscores the stakes at play here.
Basel III & Unintended Consequences for Emerging Markets and Developing Economies - Part 4: Challenges on Infrastructure and SME Lending
The adoption of Basel III by developing countries raises the question of what the impact of such regulatory reform will be on volume, cost, and composition of domestic credit in these economies and for the development of financial systems more generally. This is against the background of many emerging markets not yet having fully exploited the potential for financial development and inclusion in their economies.
A recent blog post by Ricardo Hausmann caught my eye because it addresses issues that I’ll be focusing on during my visiting fellowship here at the Center for Global Development. Hausmann—a former Venezuelan minister of planning—discusses the difficulty of closing the infrastructure gap in developing countries, and highlights the dilemma of whether governments should finance infrastructure projects through public-private partnerships or through their national budgets. He’s right about the dilemma, but his solution isn’t workable for fragile and low-income countries where infrastructure needs are greatest.
Basel III & Unintended Consequences for Emerging Markets and Developing Economies - Part 3: An Unlevel Playing Field Between Domestic and Foreign Banks Might Increase Governments’ Funding Costs
Responding to the latest assessment of Mexico’s implementation of the Basel III recommendations, the Mexican authorities argued that regulations for countries hosting foreign banks’ subsidiaries and for the parent countries of the subsidiaries should be aligned “in order to prevent distortions due to the asymmetric treatment of similar risk exposures by home and host jurisdictions,” which could result in an unlevel playing field between foreign subsidiaries and domestic banks.
The world’s poorest people have been getting richer recently. But they remain incredibly poor. The 10 percent of the world’s population still consuming $1.90 or less a day are subsisting on a small fraction of the resources available to people at the US poverty line. So you’d hope that the governments of the countries where they live would be trying to raise their consumption levels. But the reality is more complex.