Ilan Goldfajn, Eduardo Levy Yeyati, 20 December 2021

The impact of the Covid-19 pandemic in Latin America highlighted the challenge of long-standing fiscal and social deficits in a context of overstretched public sector resources. And it deepened a growing discontent with the economic status quo and the political system. A new CEPR eBook collects a series of conversations with distinguished Latin American researchers and policymakers aimed at trying to map a possible future for Latin America, with a focus on avoiding the next crisis, policies for sustainable growth, social challenges, and the future of democracy.  

Debora Revoltella, Rolf Strauch, 24 May 2021

Jump-starting investment after Covid-19 is a crucial challenge for the sustainability of the recovery. This column highlights that incentives to re-launch investment remain crucial. Viable and new firms need to have access to additional new financing as we emerge from the crisis. Debt finance cannot be the only option. Incentives for recapitalisation of companies and access to equity or equity-type finance become increasingly important. The legacies of the pandemic in the financial sector need to be worked out quickly. European and government support complementing post-pandemic bank and capital market financing will be critical to a strong and sustained recovery. 

Eduardo Levy Yeyati, Federico Filippini, 12 May 2021

The long-term social and economic consequences of Covid-19 are uncertain. This column provides a preliminary assessment of the variation in costs across countries and regions, and suggests that developing economies will suffer the most lasting damage. The pandemic has exposed the differential capacity of governments to mitigate health and economic crises and to allocate scarce resources efficiently, while some labour market structures have inhibited government efforts to attenuate the pandemic’s impact – impediments that will also shape comparative recoveries. 

Philippe Aghion, Patrick Artus, Miquel Oliu-Barton, Bary Pradelski, 31 March 2021

With the pandemic continuing now for over a year, it has become clear that there is no trade-off between health and wealth. Successful pandemic management has relied on aiming for and protecting Covid-free green zones. This column argues that by choosing a swift elimination strategy, several countries around the world have gained control over the virus. They did this by minimising fatalities and uncertainty, and are now already rebuilding their economies. By contrast, most European countries have followed a stop-and-go logic that turned out to be more restrictive, more dangerous, and more damaging to the economy.

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