A few months ago, I attended the World Bank's conference on Diaspora for Development, hosted by Dilip Ratha, lead economist at the World Bank. The general feeling at that time was that remittance flows would contract significantly this year, but, paradoxically, would become a more important source of external financing in many countries, as foreign direct investment had dropped by up to 50 percent.
Nouriel Roubini is back at it, delivering the latest battle call in his war against complacent optimism.
Back in grade school, I was the kind of kid who got excited about things like fractal geometry. I even went so far as to attend math camp one summer on the Eastern Shore.
The comments section is down. We have sent a note to the powers that be, and it should be remedied soon.
A previous post by Pablo on the political cost of market reforms suggests that the incentive to reform depends on the impact of such reforms on the re-election chances of the incumbent government, and how much the president or party in power cares about re-election relative to other (enlightened) objectives.
China looks set to see a boom in access to finance since the passage in 2007 of the Property Rights Law. Last week, the Financial Times reported on the newfound ability of farmers to monetise their land. Some farmers are selling to larger, more efficient companies, while others are taking advantage of the opportunity to use their land as collateral:
Has the regulatory burden for Belarusian businesses decreased? According to a new World Bank Country Note on Running a Business in Belarus, progress has indeed been made over time. For example, the number of visits or required meetings with tax officials has significantly decreased from 2005 to 2008: from 3.2 to just 1 visit per year. Also, the percentage of firms reporting incidence of bribes with these tax officials decreased as well.