Development

Eduardo Cavallo, Andrew Powell, 19 April 2018

The rate of economic growth in Latin America and the Caribbean in coming years is predicted to be below that of the rest of the world and substantially below that of the fast-growing countries of emerging Asia. This column looks at the drivers behind these growth gaps. To converge more rapidly to higher-income status, the region needs not only to boost investment but critically to raise investment efficiency.

Thorsten Beck, Maria Soledad Martinez Peria, Maurice Obstfeld, Andrea Presbitero, 12 April 2018

Research has shown that financial inclusion is closely linked to economic development and growth. However, more work is needed to establish the magnitude and channels of this effect and to pinpoint the types of financial services that have a stronger payoff without threatening financial stability. This column tackles these questions by presenting new evidence from a recent IMF-DFID conference on financial inclusion. It also suggests avenues for future research on the topic.

Carl-Johan Dalgaard, Nicolai Kaarsen, Ola Olsson, Pablo Selaya, 10 April 2018

Although spatial differences in economic development tend to be highly persistent over time, this is not always the case. This column combines novel data on Roman Empire road networks with data on night-time light intensity to explore the persistence and non-persistence of a key proximate source of growth – public goods provision. Several empirical strategies all point to the Roman road network as playing an important role in the persistence of subsequent development.

Julia Cagé, Valeria Rueda, 17 March 2018

HIV prevention in sub-Saharan Africa is often shaped by the influence of Christian churches, tending to focus on abstinence rather than safer sexual behaviour. This column investigates the relationship between historical Christian missionary activities and HIV prevalence today. Regions close to missions in general tend to exhibit higher HIV prevalence, an effect that is driven by Protestant missions. Regions close to missions that specifically invested in health, however, exhibit lower HIV prevalence today.

Ravi Kanbur, 09 March 2018

Gunnar Myrdal’s “Asian Drama” was published 50 years ago. On the face of it, the book, framed in terms of the realities of an economically stagnant Asia, appears to have little to offer the modern development economist. This column argues, however, that the issues Myrdal raised are fundamental ones not only for development but for our discipline of economics and for the broader terrain of political economy.

Other Recent Articles:

Events

CEPR Policy Research