That's my main takeaway from just-released data based on surveys of over 1,800 firms in eastern Europe. In mid-July 2009, firms in six countries were asked whether they had seen an increase, decrease, or no change in sales from the previous year. The numbers then were not pretty—75% of firms reported a decrease in sales (based on an average of country-level data).
Considerable effort and attention has been devoted to market-oriented reforms in the manufacturing and financial sectors and in physical infrastructure. While these are undoubtedly important sectors, there is very little by way of research on agricultural market reforms—loosely defined as deregulation of agricultural markets.
No, I don't mean investing in health systems, education, sanitation, etc. I'm talking about taking an equity stake in the future earnings of poor people.
Back in December, I asked whether the World Bank ought to consider offering its staff phones that can run apps that utilize new augmented reality tech
No, I'm not referring to Tiger Woods's recent return to golf. George Soros is trying to rebuild the economics profession from the ground up at the Institute for New Economic Thinking. The site has a ton of interesting videos, including the one below by Nobel laureate George Akerlof (of The Market for Lemons fame).
Editor's Note: Yara Salem is a Private Sector Development Specialist with the Doing Business project and manages the Starting a Business indicator.
So says Owen Barder. Money quote:
So we may be on the brink of a collapse of the entire “business model”, as traumatic as the closure of newspapers in the United States (the UK is a year or so behind). Perhaps we should see this as an opportunity, rather than a threat. Collapse may be the appropriate response, an opportunity to build a new system from the bottom up.
"Are markets simply casinos for betting?" Asli recently asked this question on the All About Finance blog. She argues that financial markets do a lot more than that, and I agree. But there are some markets that come very close to being casinos. Surprisingly, in the wake of the financial crisis, the U.S.
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