Cambridge, Massachusetts – The economic pole of global growth has moved over the past few years from China to neighboring India, where it is likely to stay over the coming decade, according to new growth projections presented by researchers at the Center for International Development at Harvard University (CID). Growth in emerging markets is predicted to continue to outpace that of advanced economies, though not uniformly. The projections are optimistic about new growth hubs in East Africa and new segments of Southeast Asia, led by Indonesia and Vietnam. The growth projections are based on measures of each country’s economic complexity, which captures the diversity and sophistication of the productive capabilities embedded in its exports and the ease with which it could further diversify by expanding those capabilities.
In examining the latest 2015 global trade data, CID researchers find a clear turn in trade winds, as 2015 marks the first year for which world exports have fallen since the 2009 global financial crisis. This time around, the decline in trade was driven largely by the fall in oil prices. High oil prices had driven a decade of rapid growth in oil economies, outpacing expectations. Since the decline in oil prices in mid 2014, growth in oil economies ground to a halt, where it is likely to stay, according to the projections, given little progress on diversification and complexity.... Read more about New 2025 Global Growth Projections Predict China’s Further Slowdown and the Continued Rise of India
Last Wednesday, June 7, 2017, Dr. Ricardo Hausmann, Director of the Center for International Development and Professor of the Practice of Economic Development at Harvard University participated as keynote speaker at the Rafael del Pino Foundation in Madrid, Spain. His presentation, entitled, “Us and Prosperity” analyzed the relation between economic development and the sense of identity, the belonging to a group, community or society.
CAMBRIDGE – Investing often creates moral dilemmas over goals: Should we aim to do well or to do good? Is it appropriate to invest in tobacco companies? Or in companies that sell guns to drug gangs?
The recent popularity of so-called impact investment funds, which promise to deliver decent returns while advancing social or environmental goals, is based on this unease. Foundations often find that these investment vehicles help them to do good both with the money...
Large influxes of migrants into foreign labor forces can often harm the fortunes of native workers, particularly those in low-skilled positions. A 2015 study, for instance, documented the wage losses suffered by native-born Americans in Miami as a result of the Mariel boatlift in 1980, during which as many as 125,000 Cubans immigrated to south Florida. But a new research study focusing on an entirely different set of migrants during a more recent period suggests there may be benefits to local workers when previous migrants return to work at home.... Read more about Unique Research Study Identifies Benefits of ‘Return Migration’ for Native Workers
It is not just because I am from Venezuela that I see Sri Lanka with admiration and envy. The island has made more progress in human development than any other in South Asia. It has reduced poverty in a pretty dramatic way. It has many reasons to be proud of its achievements. But anything that is worth doing, is worth doing better. The Center for International Development at Harvard University is collaborating with the Government of Sri Lanka to work on a strategy to make progress faster, more sustainable and more inclusive.
Ricardo Hausmann — Harvard development economist, former Venezuelan minister of planning and long-time friend and adviser to SA’s Treasury — visited SA last week and says he fears the country is heading towards making a mistake. He served on the International Panel on Growth, which provided a rich set of recommendations to the Treasury in 2008.
Looking back at their report, compiled by 20 of the world’s top economic thinkers from Harvard and the Massachusetts Institute of Technology, it is distressing to see how determinedly that advice...
As part of its economic diplomacy role, the Ministry of Foreign Affairs has undertaken a unique initiative to design and implement an online Economic Diplomacy Course catering to Sri Lanka's specific economic needs and challenges.
This Course is a result of the Foreign Ministry's collaboration with the Department of Commerce and Harvard University, one of the most prestigious Universities in the world.
The ceremonial launching of the Course was held today, 7th March 2017 at the Ministry of Foreign Affairs presided over by the Acting Minister of Foreign Affairs Harsha de Silva. Also participating at the event were Mrs. Sonali Wijeratne, Director General, Department of Commerce; Professor Matt Andrews, Senior Lecturer, Harvard University Center for International Development (HCID), invited guests and officials selected to take part in the Course.