Does the sequence of trade liberalisations matter and do historical trade barriers impact trade today? This column argues that this is indeed the case due to the first-mover advantages of incumbent firms. Such incumbency effects can explain up to 25% of countries’ domestic expenditure shares (the ‘home share’) in international trade. The authors further discuss […]
Economic growth is crucial for realising developmental goals, eradicating poverty, and ensuring the sustainability of debt burdens. Over the last two decades, the world has faced two large recessions, both of which have had a long-tail of dampened growth. This column uses a new dataset of potential growth measures to illustrate that potential growth has […]
What to do with Russia’s foreign reserves, immobilised since Russia’s full-scale invasion of Ukraine, is primarily a matter of decision for the European Union, where most of these reserves are held. The EU should keep giving Ukraine the financial support it needs for its defence and other government expenditures but, in the present circumstances, should […]
In late October 2023, the coastal city of Acapulco, Mexico, faced the devastating force of Hurricane Otis. The Category 5 storm wreaked havoc, leaving a trail of destruction in its wake. Sadly, the impact of the hurricane was not limited to physical damage; it also claimed casualties, adding a sad note to the city’s recovery […]
Disadvantaged adolescents often struggle to transition successfully from school to work. This column shows that mentoring programmes can strongly improve this transition. Results from a field experiment indicate that a German mentoring programme markedly boosts school the achievement, patience, and labour market orientation of students from highly disadvantaged backgrounds. Three years after programme start, mentoring […]
As climate change accelerates, the World Bank is ramping up its support for Green, Resilient, and Inclusive Development (GRID) to help countries become more climate resilient. This includes a specific focus on Indigenous Peoples who are among the most vulnerable to climate shocks, and also play a critical role in sustainably managing natural resources; Much of […]
Antonia is a Salvadoran chef who had the opportunity to work for 6 months in the United States with a work visa, called H-2B; a program that allows employers to bring foreign nationals to the US to fill temporary jobs. Thanks to the employment intermediation provided by the El Salvadoran government and the United States Agency for […]
Amidst the ebb and flow of life, Felix and Cris, an elderly couple in their mid-90s in Pinilla Trasmonte, a remote village in Spain, find themselves at a pivotal moment. Even the simplest of tasks feel like mountains to climb, highlighting the undeniable truth of their aging journey. However, finding an affordable care facility remains […]
On December 5th, the Organization for Economic Cooperation and Development (OECD) released the results of the 2022 Programme for International Student Assessment (PISA)—the most comprehensive cross-country comparison of children’s learning outcomes in basic education. Even more than usual, educators and policymakers eagerly anticipated the results since this was the first PISA release after the COVID-19 […]
Morocco has made significant economic progress in the last two decades, increasing per capita income and reducing poverty. In our paper, Exports to Jobs: Morocco’s Trade Patterns and Local Labor Market Outcomes, we tackle the questions of whether trade policies, such as signing Regional Trade Agreements (RTAs), improved trade flows; whether an increase in exports improved […]
