News

The pandemic dealt a blow to global trade and revived an old dream: Self-reliance

December 23, 2020

The Atlas of Economic Complexity in The Washington Post

When the pandemic hit, Ghana called on companies to change gears. Shirtmakers switched to cotton masks. A cosmetics lab churned out hand sanitizer. Dress sewers crafted face shields.

Those goods normally came from Chinese factories, but China had largely closed for business. Beijing’s shipments to Ghana plunged by nearly 50 percent in March, sending the West African nation of 31 million scrambling for backups.

 

Venezuelan oil could become world’s biggest stranded asset, say experts

November 18, 2020

Financial Times

Once a wealthy oil exporter, Venezuela’s hopes of reviving its shattered economy are pinned on huge investment in extracting one of the world’s most carbon-heavy blends of crude.

But concerns about climate change are upending energy markets worldwide, and some experts believe much of the country’s most valuable asset will remain stranded in the ground.

Some insist that Venezuela’s oil has not yet lost its allure. Ricardo Hausmann, a former Venezuelan planning minister in the 1990s now at Harvard University’s Centre for...

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Zoom and Gloom

October 8, 2020

The Economist

...Recent research by Michele Coscia of the University of Copenhagen, and Frank Neffke and Ricardo Hausmann of Harvard University, finds that a permanent shutdown of international business travel would shrink global gross product by an astonishing 17% by hindering flows of knowledge across borders. The shift in favour of remote work also looks curiously like an anglosphere phenomenon; workers in mainland Europe have been swifter to return to the office than those in Britain and America.

Nonetheless, the shift will lead to significant...

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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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