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financial crisis

The G20 tries to get hip

Ryan Hahn's picture

Usually, the term 'G20' induces images of interminable meetings and high-minded but vaguely worded communiques. But the G20 is trying to get hip. It is sponsoring a competition to crowdsource ideas for one of the perennial problems of development (and one greatly exacerbated by the financial crisis) -- access to finance by SMEs. Here are the details:

Re-reading Keynes

Editor's Note: Nadia Piffaretti is assistant and advisor to the Senior Vice President and Chief Economist, Development Economics.

“The world has been slow to realize that we are living in the shadow of one of the greatest economic catastrophes of modern history”. This could be the opening to any one of the dozens of Op-Eds appearing since the start of the crisis, but they are the words of J. M. Keynes from his 1930 piece The Great Slump of 1930.

A road network for private firms

Ryan Hahn's picture

F. Halsey Rogers, a World Bank economist in the Development Research Group, has put together a helpful summary of the impact of the crisis on development thinking. Clearly, financial markets in rich countries went haywire. What should this mean for the role of markets in developing countries?

Keynesian stimulus according to Taleb

Ryan Hahn's picture

I just realized that what is called "Keynesian stimulus" works differently when the government is starting off a situation of deficit. The math would produce different results, which makes me wonder why economists cannot spot it (I inject more perturbations and see massive fragility). In one case, to make an analogy to an individual, you can invest money you have on the side(assuming you've had suspluses [sic] from the past). In the other, you fragilize yourself by borrowing, and transfer the liabilities cross-generations.

How to compete and grow

Ryan Hahn's picture

Last month Jaana Remes, a senior fellow at the McKinsey Global Institute, came to the World Bank to discuss the findings of a new report called How to Compete and Grow: A Sector Guide to Policy. Remes spoke on a topic that has not been a traditional strong suit of the Bank, viz. competitiveness policies for particular sectors of the economy.

Job Creation and the Global Financial Crisis

David McKenzie's picture

Each new jobs report in the U.S. reignites the debate about whether the government is succeeding in stemming job losses and doing enough to help stimulate the creation of new jobs.

The U.S. has been far from alone in pursuing active labor market policies during the crisis. In a new note, David Robalino and I take stock of what labor market interventions countries have put in place during the recent crisis and summarize what we know about their effectiveness to date, as well as discuss the emerging issues countries are facing as they adapt these policies to a recovery period.


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