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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.

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