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​Open skies over the Middle East

Russell Hillberry's picture
Thirty years ago, most international travel was routed through national “gateway” airports in cities like New York, London or Tokyo.  Someone travelling between secondary cities such as Atlanta and Manchester would typically make two plane changes en route.  Due in part to changes in international aviation policies, travelers from those same secondary cities now have direct flights to many more international locations.
 

Love, money, and old age in China

L.Colin Xu's picture
Love is supposed to be pure and unconditional. A recent study by Ginger Jin, Fali Huang and I suggests that love is complicated: the amount of love achieved may depend on whether you or your parents found your spouse, and whether you are part of a family where old age support needs to be provided by children.

The Social Observatory Field Notes: Documenting the stories of Self-Help Group (SGH) leaders

Shruti Majumdar's picture

Location: Sarfuddinpur, Bihar
December 2014
 
In June this year, I was in Sarfuddinpur, a village in Muzaffarpur district in north-central Bihar. This was my tenth round of qualitative data collection in this village and I wanted to document the stories of a few Self-Help Group, or SHG, leaders; Shakuntala Devi was one of them. I first observed her presiding over an SHG meeting under the village peepal tree in July 2013. She was expertly facilitating a discussion with other SHG members around loans, but also around child health issues and the challenges faced by women in the marketplace. She disciplined free riders and rewarded contributors with a respected leader’s ease. Since then, I have seen her conduct many other meetings.
 

Can Government spending Encourage Entrepreneurship?

Asif Islam's picture
A fairly robust finding is that total government spending is negatively correlated with entrepreneurship. The proposed rationale for this relationship falls under either one of two categories. The first is that government spending is a proxy for government size. Under this scenario high level of government spending implies high levels of government involvement both in terms of burdensome regulations and crowding out of the private sector; both factors considered to be detrimental towards entrepreneurship.

How to Reverse the Post-Crisis Slowdown of Growth in Emerging Economies?

Aristomene Varoudakis's picture
Growth in emerging economies has slowed over the past three years, something being discussed with urgency at the G20 meetings in Istanbul, Turkey. Part of the slowdown is cyclical, but a significant part reflects sluggish potential growth. Using new empirical evidence, this column argues that ambitious structural reforms can fully offset the slowdown of potential growth in emerging economies. Reforms that remove barriers to open markets and improve access to finance play a key role in revitalizing total factor productivity growth and boosting private investment.

Friday Round up: Basu on big trends in development economics, Pritchett skewers aid, Krozer on inequality, legal identity as development goal

LTD Editors's picture
In a discussion hosted by Ideas for India, titled ‘Big and small ideas in development economics: Theory, evidence and practice,’ Kaushik Basu says some of the extreme thinking in the economics profession that was ideologically rooted without having enough grounds has become very weak.

Latin American Corporate Finance: Is There a Dark Corner?

Otaviano Canuto's picture

Since last year there has been much talk of possible financial stress stemming from increased debt leverage in non-financial corporates of emerging markets economies. A recent study has brought to light some key evidence on the Latin American case (Bastos et al, 2015).

EME non-financial corporate debt has been on the rise 

Back in 2013, I called attention to new features of international long-term private debt finance in developing countries that arose since the global financial crisis. While global cross-border bank lending with maturities at or beyond five years slowed down after 2008, bond issues have more than filled the void, explaining a rise in total flows since then. While banks in advanced economies – especially in Europe – were deleveraging, unconventional monetary policies and hype about emerging and frontier markets comprised a favorable backdrop for a massive surge in the latter’s bond issuance (Chart 1).
 

How the Business Community Can Help Fight Corruption

Kaushik Basu's picture

This blog appeared originally in The Times of India

The control of corruption is commonly treated as the responsibility of government. The presumption is that people, firms and corporations will be what they are. So if corruption flourishes in a country, it reflects a failure of government. In informal discussions in the bazaar and angry public forums, the demands are invariably for greater honesty among government servants, tougher laws, and better enforcement. The public outrage against corruption is understandable for corruption is among the biggest obstacles to economic development. At the same time, the solutions offered in popular discourses are often naïve. 

Estimating the Economic Cost of Ebola

Mark Roland Thomas's picture
Recent news of declining numbers of new Ebola cases in Guinea, Liberia, and Sierra Leone suggest encouraging progress toward ending the epidemic. The human cost has been tragic and until we reach zero cases the threat to human lives remains the main risk and so the public health response must remain our focus. Yet, as Guinea, Liberia, and Sierra Leone glimpse – we hope – light at the end of the tunnel, thoughts also need to turn to their needs for reconstruction and development.

Mind, Society, and Behavior – and Financial Inclusion

Douglas Randall's picture

This is an except from a post that appeared originally on The World Bank Group's 'Private Sector Development' blog.

Like many World Bankers, I took some time recently to look through the newly released 2015 World Development Report “Mind, Society, and Behavior.” From my perspective, in the Finance and Markets Global Practice, one thing jumped out immediately: The report is packed with insights that are directly relevant to our work on financial inclusion.

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