News

When should we hit the road again?

September 7, 2020

Financial Times

...That business travel was necessary for business success appeared clear before the Covid crisis. The Growth Lab, a research unit at Harvard’s Center for International Development, looked at international travel spending by holders of corporate credit and debit cards between 2011 and 2016. It found that where there was business travel, there were measurable benefits in growth and employment, both in the countries the travellers came from, but particularly in the countries they travelled to.

The transfer of knowledge was vital to business...

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How should world channel aid to Lebanon in wake of blast?

August 13, 2020

Ricardo Hausmann in Anadolu Agency News

How should the world channel aid to Lebanon in wake of blast? Given the huge humanitarian and economic fallout from the deadly blast, one thing is clear: Lebanon will have to get a large injection of international aid. But with its government in tatters, how, and through whom?

Speaking to Anadolu Agency, Ricardo Hausmann, founder and director of the Growth Lab at Harvard's Center for International Development, said there is no easy solution for doing this without effective government.

Harvard researchers discover a surprising reason why Zoom and Skype won’t kill business travel

August 12, 2020

Fast Company

Business travel: Turns out it does more than just fill up the front half of the airplane.

It might actually do some good for the world, says a new study out of the Harvard Kennedy School’s Growth Lab, which finds a direct link—of causation, not correlation—between a country’s incoming business travel and its economic growth. The more business travelers a country received, the better its industrial ventures fared...

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‘This Has Changed Everything’: Saudi Economy Shaken by Oil Crash

April 21, 2020

Ricardo Hausmann in Bloomberg

The meltdown in oil markets is turning back the economic clock for Saudi Arabia, putting it on track for the deepest contraction in two decades.

Already under lockdown to contain the spread of the coronavirus pandemic, the world’s largest crude exporter is bracing for a second impact from the oil rout and unprecedented production cuts negotiated by OPEC and its allies. Both will slash government revenue, and in turn derail a fragile economic recovery. Brent crude traded at under $19 a barrel on Tuesday -- a quarter of the level...

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Sri Lanka’s economic recovery from coronavirus

April 17, 2020

Ricardo Hausmann in the Daily Mirror

The purpose of this article is to suggest how Sri Lanka can undertake significant structural reforms in the aftermath of this global pandemic and place herself in a position of increased economic strength.

Apart from the money the government will have to spend towards the medical management of the virus, it will have to spend a significant sum of money on social welfare and also support the corporate sector in the coming months. Economists are unable to estimate the sum of money that will be required for this purpose...

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Nature: How India is attempting to slow the coronavirus

April 10, 2020

Ricardo Hausmann in Nature

Like many nations, India does not have enough kits to test most of its population for the new coronavirus. The country is instead relying on people power: thousands of health-care workers are fanning out across the country to trace and quarantine people who might have had contact with those with COVID-19. People are typically only tested if they develop symptoms.

...

However, further lockdowns could have dire consequences. Strict social-distancing measures mean that people must stay at home, so many cannot work —...

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BBC: Conseguir dinero toma tiempo y esfuerzo, así que centremos la discusión del manejo de esta crisis donde está el dinero: el FMI

April 6, 2020

Ricardo Hausmann interview in BBC

Así lo afirma el economista venezolano Ricardo Hausmann, director del Laboratorio de Crecimiento del Centro de Desarrollo Internacional de la Universidad de Harvard y docente de dicha institución.

"Los países que supuestamente han tenido éxitos iniciales en la lucha contra el coronavirus, como Dinamarca, Japón y Corea del Sur, deben preocuparse por qué tan exitosos han sido el resto de los países en controlar la pandemia", le dice a...

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Financial Times: Threat of catastrophe stalks developing world

April 3, 2020

Ricardo Hausmann in Financial Times

Governments are fighting to keep the coronavirus pandemic at bay and their economies afloat

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Still, Ricardo Hausmann, a Venezuelan development economist at Harvard University, is not holding out great hope. “The situation in the advanced economies is likely to be much more benign than what developing countries are facing.”

Mr Hausmann says developing economies have been left in the lurch both in terms of their ability to fight the pandemic and to counter its economic impact. Even in the best of times...

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Business Day: Lockdowns are not sustainable, says economist Hausmann

April 2, 2020

Ricardo Hausmann in Business Day

A lockdown is not sustainable and can bankrupt economies, especially those without fiscal space, says renowned economist Ricardo Hausmann.

Fiscal space generally refers to the availability of budgetary room that enables a government to provide resources for a desired purpose without compromising its ability to finance its operations and other obligations such as debt servicing.

Harvard researchers studied 9 million people to discover the surprising secret to career success

January 16, 2020

Frank Neffke - Fast Company

A Harvard study has pinpointed the secret to career success: choosing the right coworkers. The researchers looked at everyone in Sweden (then nine million people) over 10 years, tracing their educations, jobs, and coworker histories. They found that coworkers with complimentary skills and educations earned higher wages, and that those wages rose even further for workers with teammates who had few skills similar to their own. “...

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