Found 135 article(s) for author 'Ricardo Hausmann'

Ricardo Hausmann on Growth, Inequality and Preventing the Next Financial Crisis

Ricardo Hausmann on Growth, Inequality and Preventing the Next Financial Crisis December 2015. GrowthPolicy staff member Devjani Roy interviewed Harvard Kennedy School Professor Ricardo Hausmann, focusing on three key questions motivating the GrowthPolicy website. Below is an edited version of Professor Hausmann’s comments. Click here for more interviews like this one. What are the challenges […]

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The Import of Exports

The Import of Exports. Ricardo Hausmann, November 26, 2015, Opinion. “Should a country’s development strategy pay special attention to exports? After all, exports have nothing to do with satisfying their people’s basic needs, such as education, health care, housing, power, water, telecoms, security, the rule of law, and recreation. So why give precedence to satisfying the needs of distant foreign consumers? That, in a nutshell, is what many opponents of free trade and economic globalization – as well as many on the right who believe that all industries should be treated equally – want to know. But there are no right answers to wrong questions…Link

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Don’t Fear the IMF

Don’t Fear the IMF. Ricardo Hausmann, September 28, 2015, Opinion. “The International Monetary Fund is, in many places, the organization that everybody loves to hate. According to some, the IMF is bad for the poor, women, economic stability, and the environment. Joseph Stiglitz, whose influence is amplified by his Nobel Prize, blames the IMF for causing and then worsening the economic crises it was called on to resolve. The IMF purportedly does so to save capitalists and bankers, not ordinary people. Though untrue, this belief does enormous harm and limits the potential good that the IMF can do…Link

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Development Policy Strategy

Development Policy Strategy. Ricardo Hausmann, Fall 2015, Syllabus. “This is a capstone course that integrates a variety of analytical tools to assess the development challenges faced by countries. The course will develop the tools to diagnose growth constraints, structural transformation possibilities, macroeconomic imbalances, fiscal policy, labor market performance, the sources of inequality and volatility, and relate them to policy issues. The course will be applied in the sense that it starts from observations and explores how different theories make sense of the facts. Students will be required to make assessments of these…Link

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Does Capitalism Cause Poverty?

Does Capitalism Cause Poverty? Richard Hausmann, August 21, 2015, Opinion. “Capitalism gets blamed for many things nowadays: poverty, inequality, unemployment, even global warming. As Pope Francis said in a recent speech in Bolivia: ‘This system is by now intolerable: farm workers find it intolerable, laborers find it intolerable, communities find it intolerable, peoples find it intolerable. The earth itself – our sister, Mother Earth, as Saint Francis would say – also finds it intolerable.’ But are the problems that upset Francis the consequence of what he called “unbridled capitalism”? Or are they instead caused by capitalism’s surprising failure…” Link

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Fighting Corruption Won’t End Poverty

Fighting Corruption Won’t End Poverty. Ricardo Hausmann, July 24, 2015, Opinion, “Countries are poor because governments are corrupt. And, unless they ensure that public resources are not stolen, and that public power is not used for private gain, they will remain poor, right?  It certainly is tempting to believe so. Here, after all, is a narrative that neatly aligns the promise of prosperity with the struggle against injustice. As Pope Francis said on his recent trip to Latin America: ‘corruption is the moth, the gangrene of a people.’ The corrupt deserve to be ‘tied to a rock and cast into the sea.’ Perhaps they do. But that won’t necessarily make their countries more…” Link

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The Education Myth

The Education Myth. Ricardo Hausmann, May 31, 2015, Opinion. “In an era characterized by political polarization and policy paralysis, we should celebrate broad agreement on economic strategy wherever we find it. One such area of agreement is the idea that the key to inclusive growth is, as then-British Prime Minister Tony Blair put in his 2001 reelection campaign, “education, education, education.” If we broaden access to schools and improve their quality, economic growth will be both substantial and equitable…Link

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New Growth Projections Predict the Rise of India, East Africa and Fall of Oil Economies

New Growth Projections Predict the Rise of India, East Africa and Fall of Oil Economies. Ricardo Hausmann, May 7, 2015, Paper. “South Asia and East Africa top the list, while oil-driven economies face the sharpest fall in new growth projections and rankings of productive dynamism for 128 countries, as presented by researchers at the Center for International Development at Harvard University (CID). Using their own measure of economic complexity that captures the productive capabilities embedded in a country’s exports, CID researchers paint a new picture of the economic growth landscape, which foresees growth in emerging markets to continue to outpace developed countries. They also predict important reversals among growth leaders, with India expected to overtake China.” Link

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Moving to the Adjacent Possible: Discovering Paths for Export Diversification in Rwanda

Moving to the Adjacent Possible: Discovering Paths for Export Diversification in Rwanda. Ricardo Hausmann, May 2015. “How can Rwanda, which currently has one of the lowest levels of income and exports per capita in the world, grow and diversify its economy in presence of significant constraints? We analyze Rwanda’s historical growth and trade performance and find that Rwanda’s high transportation costs and limited productive knowledge have held back greater export development and have resulted in excessive rural density. Three basic commodities–coffee, tea, and tin–made up more than 80 percent of the country’s exports through its history and still drive the bulk of export growth today...” Link

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Secular Stagnation for Free

Secular Stagnation for Free. Ricardo Hausmann, March 27, 2015, Opinion. “Something is definitely rotten in the state of capitalism. Despite unprecedentedly low interest rates, investment in most advanced countries is significantly below where it was in the years prior to the 2008 crisis, while employment rates remain stubbornly low. And even investment in the pre-crisis period was unimpressive, given low prevailing interest rates. For some reason, achieving a level of investment that would generate full employment seems to require negative real (inflation-adjusted) interest rates, which is another way of saying that people have to be paid to invest…” Link

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