New research shows that the global economy is making a major turn toward rapid economic growth, and will continue trending in that direction over the coming years.
That’s according to the Center for International Development (CID) at Harvard University, which recently released their projections for the fast growing economies in the next decade. After analyzing global trade data from 2015 — the most recently available data — the CID concluded that the global economy trending upward.
Ricardo Hausmann profile in IMF's Finance and Development
In nearly 40 years of navigating government, academia, and international financial institutions, Ricardo Hausmann has been on a quest to discover what makes some countries succeed and others fail. He likes to think of development as a game of Scrabble. “The process of development is really the process of accumulating letters and figuring new words that can be put together. And that’s the arrow of development,” he explains, sitting in his sun-filled office at Harvard’s Kennedy School of Government....
Ricardo Hausmann joins Cardiff Garcia to discuss the historical foundation of Venezuela's current macroeconomic and humanitarian crisis, what may happen with its debt and what the future holds for the country.
Ricardo Hausmann is interviewed by the Council of Foreign Relations
The misguided policies of President Nicolas Maduro and his predecessor, Hugo Chavez, along with falling oil prices, have destabilized Venezuela’s economy and triggered shortages of vital supplies, says Ricardo Hausmann, a professor at Harvard Kennedy School and a former minister of planning in Venezuela.
Hausmann argues that it will almost certainly take new leadership in Caracas to introduce the market reforms and debt restructuring he says are needed. “A recovery...
An Interview with Dr. Milena Harito, Minister of Innovation and Public Administration of Albania
If you were a citizen of the Republic of Albania in need of a moderately complex public service in 2014, you were almost certain to enter a maze of public bureaucracy: dark and messy offices, long lines, vague instructions and procedures, and little opportunity for citizen feedback or tolerance for criticism. It’s no wonder that the uncertainty around these services forced most...
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.