Development

Martin Guzman, Argentina’s former Minister of Economy, explains how the role of power should be central to economic research – especially when it comes to sovereign debt.

Over half of all developing countries in the world are either currently in, or headed toward debt distress.

People are waking up to discover that another international debt crisis of enormous proportions looms on the horizon of a scale not seen since the early 1980s, after which Latin America and Africa slogged through a “lost decade.” Implosions of this magnitude can wipe out years of progress in health, education, and social stability. Yet not many people understand why and how this is happening.

As a new crisis gains momentum, economist Martin Guzman, former Minister of the Economy of Argentina and co-president of Columbia University’s Initiative for Policy Dialogue offers his perspective on what has gone wrong and what can be done to address it. In his view, you can’t understand debt crises without confronting the power dynamics at play.

Martín Guzmán, ex ministro de Economía de Argentina, explica cómo el rol del poder debe ser central en la investigación económica, especialmente cuando se trata de deuda soberana.

Más de la mitad de todos los países en desarrollo del mundo están actualmente en crisis de deuda o se dirigen hacia ella.

La gente está despertando para descubrir que otra crisis de deuda internacional de enormes proporciones se avecina en el horizonte a una escala no vista desde principios de la década de 1980, después de la cual América Latina y África sufrieron una "década perdida". Implosiones de esta magnitud pueden eliminar años de progreso en salud, educación y estabilidad social. Sin embargo, no muchas personas entienden por qué y cómo está sucediendo esto.

A Balance-of-Payments Constrained Growth Perspective

A model that captures key vulnerabilities and structural weaknesses of developing countries' trade and production structures.

Our new INET working paper began as a background study for UNCTAD’s Trade and Development Report 2022. Since then, the world has evolved, but this essay has the same purpose as the original: To assess from the perspective of the Balance of Payments Constrained Growth (BPCG) model, the key current challenges to developing countries that spring from two broad types of factors they cannot control. These are, first, global shocks that affect the world economy at large and, second, major macro or trade policy changes in developed countries. The BPCG perspective helps to identify to what extent these challenges are rooted in or conditioned by the developing countries' financial vulnerabilities and structural weaknesses linked to their roles in international trade and capital markets.

Vera Songwe, Chair of the Liquidity and Sustainability Facility, and former Executive Secretary of the UN Economic Commission for Africa, on the multiple crises facing African countries.

Songwe is co-chair of the Independent High-Level Expert Group on Finance for Climate Action, a member of the Global Financial Alliance for Net Zero (GFANZ), and a nonresident senior fellow at the Brookings Institution. Songwe was previously Under-Secretary-General at the United Nations and Executive Secretary of the United Nations Economic Commission for Africa. Recognized as one of Africa’s 100 most influential people in 2022 and recipient of the All Africa Continental Leadership Award, Songwe was named one of the nominees for Forbes Africa 50 Top Women in 2023. She recently co-authored a book entitled Regional Integration in West Africa: Is There a Role for a Single Currency? She has spent the last three years championing the cause for additional liquidity for emerging markets and the need for a new global financial architecture fit for the 21st century’s development challenges.

Honorary Vice President at IMANI Center for policy and education, Bright Simons, on the challenges Ghana is facing

Bright Simons is honorary Vice President at IMANI Center for policy and education, a think tank dedicated to policy and research on rule of law, market growth and development, individual rights, and human security and institutional development. He previously served on the World Economic Forum's Africa Strategy Group.

If primary commodities and mid-to-high-tech manufacturing products are produced by industries with different wage shares, there are distributive implications of deepening trade integration with certain regions with respect to others.

How can we quantify the wage share implied by varying degrees and types of participation to Global Value Chains?

A stable labor share has long been a stylized fact of advanced capitalist development (Kaldor, 1961). A key premise was that productivity increases would accrue to labor through real wage increases, which would tend to hold constant the share of wages in net output.

...the platform exposes even beginner programmers to the gender-biases of technical communities.

The post Gender Bias and Reputation on Stack Overflow appeared first on Zeldman on Web and Interaction Design.

China’s successful technological development path stands in contrast to the corporate financialization model in the United States